Ulta Beauty (ULTA) 10-K Summary — Year Ended Jan 28, 2023
Ulta Beauty is the largest specialty beauty retailer in the United States, offering a wide assortment of products and services through stores and digital channels. The company reported increased revenue and positive operating income, net income, and operating cash flow for the fiscal year.
Key takeaway
Year ended Jan 28, 2023 · FY2024 10-K
Ulta Beauty is the largest specialty beauty retailer in the United States, offering a wide assortment of products and services through stores and digital channels. The company reported increased revenue and positive operating income, net income, and operating cash flow for the fiscal year.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$10.2B
Revenue reported for the fiscal year.
Operating income
$1.6B
Income from operations reported for the year.
Net income
$1.2B
Net income reported for the year.
Operating cash flow
$1.5B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jan 29, 2022 | $8.6B | n/a |
| Jan 28, 2023 | $10.2B | +18.3% |
Business overview
Ulta Beauty operates as a specialty beauty retailer with over 1,350 stores and more than 350 shop-in-shops within Target locations, offering over 25,000 products from more than 600 brands. The company provides a one-of-a-kind assortment spanning prestige and mass categories, along with salon services and digital experiences through its website and mobile apps.
Financial performance
Revenue increased compared to the prior period, and the company reported operating income, net income, and operating cash flow. The financial results reflect the company's scale and market position in the beauty retail sector.
Material risks
The filing references a risk factors section but does not provide specific risk descriptions in the supplied excerpt. Therefore, no material risks are explicitly stated in the available context.
Liquidity and capital
The company funds its operations and growth primarily through cash from operations, and its working capital needs peak before the holiday season. It believes its liquidity sources, including cash and a credit facility, are sufficient to meet both short-term and long-term requirements.
What to watch
Monitor the number of Ulta Beauty at Target shop-in-shops and the overall store count in the next filing.