Quarterly report pursuant to Section 13 or 15(d)

Business and basis of presentation

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Business and basis of presentation
 9 Months Ended
Nov. 02, 2013
Accounting Policies [Abstract]  
Business and basis of presentation
1. Business and basis of presentation

Ulta Salon, Cosmetics & Fragrance, Inc. was incorporated in the state of Delaware on January 9, 1990, to operate specialty retail stores selling cosmetics, fragrance, haircare and skincare products, and related accessories and services. The stores also feature full-service salons. As of November 2, 2013, the Company operated 664 stores in 46 states, as shown in the table below. As used in these notes and throughout this Quarterly Report on Form 10-Q, all references to “we,” “us,” “our,” “Ulta” or the “Company” refer to Ulta Salon, Cosmetics & Fragrance, Inc. and its consolidated subsidiary, Ulta Inc.

Number of Number of

State

 stores

State

 stores

Alabama

 11 Montana 4

Arizona

 23 Nebraska 3

Arkansas

 5 Nevada 7

California

 69 New Hampshire 4

Colorado

 13 New Jersey 16

Connecticut

 6 New Mexico 2

Delaware

 1 New York 22

Florida

 43 North Carolina 21

Georgia

 24 North Dakota 1

Idaho

 4 Ohio 26

Illinois

 44 Oklahoma 8

Indiana

 13 Oregon 8

Iowa

 6 Pennsylvania 23

Kansas

 4 Rhode Island 2

Kentucky

 8 South Carolina 12

Louisiana

 10 South Dakota 2

Maine

 3 Tennessee 10

Maryland

 12 Texas 72

Massachusetts

 8 Utah 7

Michigan

 34 Virginia 18

Minnesota

 11 Washington 12

Mississippi

 5 West Virginia 2

Missouri

 15 Wisconsin 10

Total 664

The accompanying unaudited financial statements and related notes have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial information and with the instructions to Form 10-Q and the U.S. Securities and Exchange Commission’s Article 10, Regulation S-X. These consolidated financial statements were prepared on a consolidated basis to include the accounts of the Company and its wholly owned subsidiary. All significant intercompany accounts, transactions and unrealized profit were eliminated in consolidation. In the opinion of management, the accompanying financial statements reflect all adjustments, which are of a normal recurring nature, necessary to fairly state the financial position and results of operations and cash flows for the interim periods presented.

The Company’s business is subject to seasonal fluctuation. Significant portions of the Company’s net sales and net income are realized during the fourth quarter of the fiscal year due to the holiday selling season. The results for the 13 and 39 weeks ended November 2, 2013 are not necessarily indicative of the results to be expected for the fiscal year ending February 1, 2014, or for any other future interim period or for any future year.

These interim financial statements and the related notes should be read in conjunction with the financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended February 2, 2013. All amounts are stated in thousands, with the exception of per share amounts and number of stores.