# Ulta Beauty (ULTA) Recent Events ## Filings that contain financial statements Ulta furnishes its quarterly results as Exhibit 99.1 to Form 8-K. Each release below includes condensed consolidated statements of income, a condensed balance sheet and a statement of cash flows (year-to-date), unaudited unless noted. - Form 8-K filed August 27, 2026, accession 0001104659-26-102438: second quarter of fiscal 2026 (13 and 26 weeks ended August 1, 2026), with prior-year comparatives. - Form 8-K filed June 2, 2026, accession 0001104659-26-069464: first quarter of fiscal 2026 (13 weeks ended May 2, 2026). - Form 8-K filed March 12, 2026, accession 0001104659-26-027061: fourth quarter and full fiscal 2025 (13 and 52 weeks ended January 31, 2026). - Form 8-K filed December 4, 2025, accession 0001104659-25-118457: third quarter of fiscal 2025 (13 and 39 weeks ended November 1, 2025). - Form 8-K filed August 28, 2025, accession 0001558370-25-011803: second quarter of fiscal 2025 (13 and 26 weeks ended August 2, 2025). ## Earnings and guidance - **August 27, 2026 (0001104659-26-102438), second quarter of fiscal 2026.** Net sales rose 8.9% to $3,035.7 million, comparable sales rose 3.8%, operating income rose 10.1% to $379.6 million and diluted EPS rose 13.3% to $6.55. Gross margin was 39.1% versus 39.2%, which the company attributed to Space NK business mix. Ulta raised fiscal 2026 guidance: net sales growth to 6.7%-7.2% (from 6%-7%), comparable sales growth to 3.2%-3.7% (from 2.5%-3.5%), operating income growth to 8.3%-9.3% (from 6.5%-9%), and diluted EPS to $28.70-$29.00 (from $28.36-$28.80). Capital expenditures guidance of $400-$450 million was unchanged. The release headline states the fiscal 2026 repurchase plan was increased to $1.8 billion from $1.5 billion; $791.1 million was repurchased in the first six months, and the company expects to use the remaining $1.0 billion of the $3.0 billion authorization (announced October 2024) by the end of fiscal 2026. Short-term debt was $339.6 million and cash $158.5 million at quarter end. - **June 2, 2026 (0001104659-26-069464), first quarter of fiscal 2026.** Net sales rose 11.1% to $3,163.9 million, comparable sales rose 5.3%, operating income rose 11.6% to $448.3 million and diluted EPS rose 15.5% to $7.74. Ulta repurchased 958,323 shares for $555.0 million. It raised guidance for operating income growth to 6.5%-9% (from 6%-9%) and diluted EPS to $28.36-$28.80 (from $28.05-$28.55); net sales and comparable sales guidance were unchanged. - **March 12, 2026 (0001104659-26-027061), fourth quarter and fiscal 2025.** Fiscal 2025 net sales rose 9.7% to $12,392.8 million, comparable sales rose 5.4% and diluted EPS was $25.64 (fourth quarter: net sales up 11.8%, EPS $8.01). Ulta repurchased 2.0 million shares for $890.5 million in the year and had $1.8 billion remaining under the $3.0 billion authorization. Initial fiscal 2026 guidance: net sales growth 6%-7%, comparable sales growth 2.5%-3.5%, operating income growth 6%-9%, diluted EPS $28.05-$28.55, capital expenditures $400-$450 million. - **December 4, 2025 (0001104659-25-118457), third quarter of fiscal 2025.** Net sales were $2,857.6 million (versus $2,530.1 million) and diluted EPS was $5.14, unchanged from the prior year. Fiscal 2025 guidance was raised: net sales to approximately $12.3 billion (from $12.0-$12.1 billion), comparable sales to 4.4%-4.7% (from 2.5%-3.5%), operating margin to 12.3%-12.4% (from 11.9%-12.0%) and diluted EPS to $25.20-$25.50 (from $23.85-$24.30). Short-term debt was $551.7 million. - **August 28, 2025 (0001558370-25-011803), second quarter of fiscal 2025.** Net sales rose 9.3% to $2,788.5 million and diluted EPS was $5.78 (versus $5.30). Fiscal 2025 guidance was raised: net sales to $12.0-$12.1 billion (from $11.5-$11.7 billion) and diluted EPS to $23.85-$24.30 (from $22.65-$23.20). Results include Space NK from its July 10, 2025 acquisition. Short-term debt was $289.1 million, drawn on the revolving credit facility mainly to fund that acquisition. ## M&A and partnerships - **Space NK (closed July 10, 2025).** The Form 10-K filed March 26, 2026 (0001104659-26-035243) states that on July 10, 2025 Ulta acquired 100% of Space NK Limited, a U.K. and Ireland luxury beauty retailer, funded with cash on hand and revolving credit facility borrowings, and recorded goodwill of $213.8 million. The company describes the deal as not material to its consolidated financial statements. Ulta did not file a Form 8-K under an acquisition item (Item 1.01 or 2.01) for the signing or closing; the transaction appears in the August 28, 2025 earnings release (0001558370-25-011803) and in later periodic reports. - **Target partnership to end (August 14, 2025, 0001104659-25-078160).** Ulta and Target agreed not to renew the Ulta Beauty at Target shop-in-shop partnership when the agreement concludes in August 2026. Ulta said the conclusion is not expected to be material to fiscal 2025 results or its long-term financial targets. ## Management and board - **June 24-25, 2025 (0001558370-25-009003).** Christopher Lialios, Senior Vice President and Controller, became Interim Chief Financial Officer effective June 24, 2025, after CFO Paula Oyibo left the company. - **July 25, 2025 (0001558370-25-009612).** Ulta disclosed a July 21, 2025 separation agreement with Ms. Oyibo providing two years of base salary ($754,000 per year), a fiscal 2025 bonus at target and other benefits. - **August 21, 2025 (0001558370-25-011702).** The board expanded from ten to twelve directors and appointed Martin Brok and Stephenie Landry, effective September 1, 2025. - **October 16, 2025 (0001104659-25-099926).** Christopher DelOrefice, previously CFO of Becton Dickinson, was appointed Chief Financial Officer effective December 5, 2025, at a $980,000 base salary. - **December 18, 2025 (0001104659-25-122603).** The company adopted an Executive Severance Plan on December 15, 2025 for its executive officers, providing two times base salary plus bonus-linked and benefit payments on a qualifying termination. - **June 9, 2026 (0001104659-26-071896).** At the annual meeting, stockholders approved the 2026 Incentive Award Plan (5,001,201 shares available, including 3,500,000 newly authorized) and certificate amendments providing officer exculpation and exclusive forum provisions. - **July 14, 2026 (0001104659-26-083524).** Director Kelly Garcia was named Chief Technology Officer effective August 31, 2026 and will resign from the board on that date. - **August 17, 2026 (0001104659-26-097497).** Brieane Olson, CEO of PacSun, was appointed an independent director effective August 31, 2026. ## Routine items The June 13, 2025 Form 8-K (0001558370-25-008584) reported 2025 annual meeting results; directors were elected, Ernst & Young was ratified and executive compensation was approved in an advisory vote.