Ulta Beauty, Inc. Quarterly report [Sections 13 or 15(d)]

Quarterly report [Sections 13 or 15(d)]

Segment reporting

Segment reporting

3 Months Ended

May 03, 2025

Note 13. Segment reporting

The Company has one reportable segment, which includes retail stores, salon services, and e-commerce. Within the reportable segment, there are significant expense categories included in the measure of the segment’s net income as shown below:


	13 Weeks Ended
	May 3,		May 4,
(In thousands, except per share data)	2025		2024
Net sales	$	2,848,367	$	2,725,848
Less:
Cost of sales (1)		1,734,148		1,656,068
Associate expenses (2)		387,150		356,269
Advertising expense, net (3)		90,609		85,707
Pre-opening expenses		1,829		2,919
Other segment expenses (1) (4)		232,854		223,937
Interest income, net		(3,547)		(6,900)
Income tax expense		99,644		94,735
Equity net loss of affiliate		628		—
Net income	$	305,052	$	313,113

(1)

Included within cost of sales and other segment expenses is depreciation and amortization expense of $72,033 and $64,739 for the 13 weeks ended May 3, 2025 and May 4, 2024, respectively.

(2)

Associate expenses include salaries, wages, bonus, and other forms of compensation related to associates.

(3)

Advertising expense, net consists of print, digital and social media, and television and radio advertising, net of vendor income that is a reimbursement of specific, incremental, and identifiable costs.

(4) Other segment expenses include other corporate overhead and store opening expenses within SG&A expenses.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details