Research Desk Line-up: Zumiez Post Earnings Coverage

LONDON, UK / ACCESSWIRE / September 14, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Ulta Beauty, Inc. (NASDAQ: ULTA), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=ULTA, following the Company's reporting of its financial results on August 24, 2017, for the second quarter fiscal 2017. The Company's net revenue increased 20.6% on a y-o-y basis. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Get more of our free earnings reports coverage from other constituents of the Specialty Retail, Other industry. Pro-TD has currently selected Zumiez Inc. (NASDAQ: ZUMZ) for due-diligence and potential coverage as the Company reported on September 07, 2017, its financial results for Q2 2017 which ended on July 29, 2017. Register for a free membership today, and be among the early birds that get access to our report on Zumiez when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on ULTA; also brushing on ZUMZ. With the links below you can directly download the report of your stock of interest free of charge at:

http://protraderdaily.com/optin/?symbol=ULTA

http://protraderdaily.com/optin/?symbol=ZUMZ

Earnings Reviewed

For three months ended July 29, 2017, Ulta Beauty's net revenue increased 20.6% to $1.29 billion from $1.07 billion in Q2 FY16. Net revenue surpassed analysts' expectations of $1.28 billion.

For the reported quarter, the Company's salon revenue increased 15.3% to $68.00 million from $59.00 million in Q2 FY16. During Q2 FY17, Ulta Beauty's Ecommerce revenue increased 72.3% to $96.30 million from $55.90 million in Q2 FY16. During Q2 FY17, the Company's comparable sales growth was 11.7% compared to 14.4% in Q2 FY16. For the reported quarter, Ulta Beauty had 1,010 stores compared to 990 stores in Q1 FY17.

During Q2 FY17, Ulta Beauty's gross profit increased 22% to $469.33 million from $384.84 million in Q2 FY16. During Q2 FY17, the Company's gross margin increased 40 basis points to 36.4% of revenue from 36.0% of revenue in Q2 FY16. The increase was due to improvements in merchandise margins and leverage in fixed store costs.

During Q2 FY17, Ulta Beauty's selling, general, and administrative (SG&A) expenses decreased 10 basis points to 22% of revenue from 22.1% of revenue in Q2 FY16.

For the reported quarter, the Company's operating income increased 25.1% to $179.80 million from $143.77 million in Q2 FY16. For the reported quarter, Ulta Beauty's operating margin increased 50 basis points to 14.0% of revenue from 13.5% of revenue in Q2 FY16.

During Q2 FY17, Ulta Beauty's tax rate was 36.7% compared to 37.5% in Q2 FY16.

During Q2 FY17, Ulta Beauty's net income increased 26.9% to $114.19 million on a y-o-y basis from $90.00 million in Q2 FY16. For the reported quarter, the Company's diluted EPS increased 28% to $1.83 on a y-o-y basis from $1.43 in Q2 FY16. The diluted EPS surpassed analysts' expectations of $1.78.

During Q2 FY17, the Company repurchased 462,421 shares totaling $126.5 million.

Balance Sheet

As on July 29, 2017, Ulta Beauty's cash and cash equivalents decreased 52.2% to $92.86 million from $194.08 million in Q2 FY16.

During Q2 FY17, the Company's net receivable increased 20.1% to $67.59 million from $56.00 million in Q2 FY16.

During Q2 FY17, the Company's net merchandise inventories increased 22.6% to $1.14 billion from $930.21 million in Q2 FY16.

During Q2 FY17, Ulta Beauty's accounts payable increased 9.9% to $313.48 million from $285.24 million in Q2 FY16.

For the reported quarter, the Company's total assets increased 16.9% to $2.70 billion from $2.31 billion in Q2 FY16.

During H1 FY17, Ulta Beauty's cash provided by operating activities was $219.99 million compared to $219.63 million in the same period last year.

Outlook

For Q3 FY17, Ulta beauty expects net revenue to be in the range of $1.33 billion to $1.35 billion, and estimates comparable sales growth to be in the range of 9% to 11%.

For FY17, the Company projects diluted EPS to be in the range of $1.63 to $1.68.

Stock Performance

At the close of trading session on Wednesday, September 13, 2017, Ulta Beauty's stock price marginally declined 0.21% to end the day at $226.41. A total volume of 713.46 thousand shares were exchanged during the session. The Company's shares are trading at a PE ratio of 30.13. At Wednesday's closing price, the stock's net capitalization stands at $14.13 billion.

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SOURCE: Pro-Trader Daily