The US beauty market is recovering! Ulta Beauty's revenue in Q3 exceeded expectations!

It is learned that according to foreign media reports, Ulta Beauty, the largest one-stop beauty product retailer in the United States, recently announced its third quarter earnings (Q3) of 2021. In this quarter, Ulta's net sales reached 2 billion US dollars, a year-on-year increase of 25.8%, and net income accounted for 10.8% of total sales, an increase from 74.8 million US dollars last year to 215 million US dollars.

Ulta Beauty CEO Dave Kimbell said that what is more exciting than the increase in sales is that Ulta's profit margin this quarter is as high as 40%, which has more room for growth compared to last year (35%). In short, Ulta's revenue in the third quarter was quite strong. In addition, Ulta Beauty's annual sales performance in 2021 may hit a record high, between US$8.5 billion and US$8.6 billion.

According to reports, in the third quarter, Ulta also opened 92 new stores (including physical stores and Ulta Beauty Target online stores), and the number of corporate members reached 35.9 million, a year-on-year increase of 13%. In the first nine months of fiscal 2021, Ulta's net sales reached US$5.9 billion, up from US$4 billion in the previous year. Net income also increased significantly from US$4.3 million in 2020 to US$696.5 million this year.

Dave Kimbell said that driven by new product launches and promotions this quarter, all major categories including perfume, hair care and skin care achieved double-digit growth. Among them, the three categories of eye, face and lip products grew fastest, with false eyelashes, eyelash growth serum, eye shadow sticks, tinted moisturizer, blush, lipstick, lip gloss and other products selling very well.

It is learned that according to a survey by market research firm Placer.ia, the number of visits to Ulta on Black Friday this year increased by 10.3% compared with the same period in 2019. As the epidemic has dealt a severe blow to the US market, the beauty industry has grown much faster than other categories such as electronics and clothing, and is expected to grow further in 2022.

Editor ✎ Nicole/

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