Ulta Beauty is seeing the benefits of people emerging from lockdown life, with increases across the board in the first quarter of fiscal 2022, according to a company press release.
The beauty brand reported net sales of $2.3 billion for the three months ending April 30, up 21% from the same time in 2021, while comparable sales increased 18% year over year. The company raised its outlook for fiscal 2022 after a strong first quarter.
“Solid execution of our strategies, paired with strong guest demand, fueled our financial performance and continued market share gains as we delighted our guests with exciting brand launches within our one-of-a-kind assortment and differentiated guest experiences,” said Dave Kimbell, chief executive officer.
Ulta opened 10 new stores in the first quarter of fiscal 2022 and relocated six others. At the end of April, the company had 1,318 stores totaling 13.9 million square feet.
Buoyed by its first-quarter performance, Ulta boosted its outlook for fiscal 2022, including raising its net sales projection from $9.05 billion to $9.35 billion.
Related: Beauty Sector Ready for Digital Closeup
PYMNTS research found that the digital makeover of the beauty industry attracted more online consumers in 2021 than at the start of the pandemic in 2020 and shows no signs of slowing down.
In PYMNTS’ “Beauty And Wellness Digital Payments Tracker,” 12% of respondents said they shopped more online in 2021 for beauty and wellness products. The survey showed that 36% of non-Amazon sites selling beauty and wellness merchandise offer a feedback tool, giving consumers a fast way to ask questions and resolve issues.
