Ulta Beauty Inc

ULTA: XNAS (USA)

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Ulta Beauty Earnings: Lovely Results but Outlook Less Alluring; Valuation Unattractive

David Swartz

Aug 29, 2025

Ulta Beauty posted 6.7% comparable sales growth in 2025's second quarter. Its gross margin increased 90 basis points to 39.2% on higher merchandise margin and reduced theft, but its operating margin fell 50 basis points to 12.4% on greater compensation and other costs.

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Ulta Beauty Inc

Ulta Beauty Earnings: Lovely Results but Outlook Less Alluring; Valuation Unattractive

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