Ulta Beauty has announced consolidated financial results for the third quarter and first nine months ended November 1, 2025, compared to the same periods ended November 2, 2024, respectively.
Q3 Net Sales Increased 12.9% to $2.9B
Net sales for Q3 2025 increased 12.9% to $2.9 billion compared to $2.5 billion, primarily due to increased comparable sales, the acquisition of Space NK and net new store contribution.
Comparable sales increased 6.3% compared to 0.6%, driven by a 3.8% increase in average ticket and a 2.4% increase in transactions. Net income was $230.9 million compared to $242.2 million in 2024 in the same quarter, and diluted earnings per share was flat at $5.14.
9-Months 2025 Net Sales Increased 8.8% to $8.5B
At the nine months in 2025, net sales increased 8.8% to $8.5 billion compared to $7.8 billion, primarily for the same reasons listed in Q3.
Comparable sales increased 5.2% compared to 0.3%, driven by a 3.0% increase in average ticket and a 2.2% increase in transactions, while net income was $796.8 million compared to $807.8 million.
Diluted earnings per share increased 4.3% to $17.65, compared to $16.93, which included a $0.10 benefit due to income tax accounting for stock-based compensation.
Ulta Beauty Unleashed
Cash and cash equivalents at the end of the third quarter of fiscal 2025 totaled $204.9 million. During the third quarter of fiscal 2025, the company repurchased 426,914 shares of its common stock at a cost of $224.7 million. During the first nine months of fiscal 2025, the company repurchased 1.7 million shares of its common stock at a cost of $693.0 million.
Notable is the revised fiscal guidance for 2025, where prior net sales were at $12.0 billion to $12.1 billion. Net sales have been adjusted to reflect their growth at approximately $12.3 billion.
Kecia Steelman, president and CEO, said, “Our third quarter results exceeded our expectations, reflecting the steady progress and momentum our team is building as we execute our Ulta Beauty Unleashed Strategy."
She said, "Exciting assortment newness, improved in-store and digital experiences and bold marketing efforts are resonating with our guests and drove strong sales results, market share gains and growth across all categories and channels, with notable strength in ecommerce."
She added, “As we look ahead to the all-important holiday season, we know many consumers’ wallets are pressured, and they are seeking value. We are confident in our plans, and our teams are ready to make Holiday Happen Here at Ulta Beauty, driving excitement and delivering for our guests and their loved ones, now and into the new year.”
