Ulta Beauty Experiences Strong Sales Growth Amid Challenges in Q2 Earnings Call

Ulta Beauty reported Q2 net sales of $2.8 billion, a 9.3% increase YoY, with strong growth in loyalty program members and the fragrance category. The company also expanded internationally, entering the UK market and opening its first store in Mexico. However, operating margin declined by 50 basis points to 12.4%, and SG&A expenses rose by 15% due to strategic investments. Ulta remains focused on executing its strategic priorities to ensure sustainable growth.