×
6 261
Fashion Jobs
HEAD OFFICE
Cyber Security Lead – Incident Response
Permanent · BRACKNELL
MATCHES FASHION
Accounts Receivable Manager
Permanent · LONDON
NEXT
Sales Manager - Southampton Hedgeend
Permanent · SOUTHAMPTON
WAITROSE
Chilled Warehouse First Line Manager – Nights
Permanent · AYLESFORD
MATCHES FASHION
Stock Coordinator
Permanent · LONDON
HOLLISTER CO. STORES
Hollister CO. - Graduate Manager in Training, George Street
Permanent · Edinburgh
HOLLISTER CO. STORES
Hollister CO. - Graduate Manager in Training, Braehead
Permanent · Renfrew
JOHN LEWIS
Section Manager Warehouse
Permanent · WEYBRIDGE
HARRODS
Concessions HR Manager
Permanent · LONDON
HARRODS
Stock Operative
Permanent · LONDON
HARRODS
Restaurant General Manager
Permanent · LONDON
HARRODS
CRM Executive Customer Data
Permanent · LONDON
OYSHO
New Store Opening - Oysho White City - General Manager
Permanent · LONDON
HARRODS
Uniformed Security Officer
Permanent · LONDON
HARVEY NICHOLS HEAD OFFICE
Ecommerce Director
Permanent · LONDON
NEXT
Sales Coordinator - Galashiels
Permanent · HUDDERSFIELD
SPORTS DIRECT
Loss Prevention Supervisor
Permanent · LEICESTER
SPORTS DIRECT FITNESS
Assistant General Manager - Everlast Fitness
Permanent · BURY ST EDMUNDS
SPORTS DIRECT FITNESS
General Assistant - Everlast Gyms
Permanent · BURY ST EDMUNDS
SPORTS DIRECT FITNESS
General Manager - Everlast Fitness
Permanent · RUGBY
EVERLAST GYMS
General Manager - Everlast Fitness
Permanent · STOKE-ON-TRENT
HEAD OFFICE
Merchandise Planner – Food & Grocery Merchandising
Permanent · BRACKNELL
Ads
Published
May 29, 2020
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Ulta Beauty sales plummet 33%

Published
May 29, 2020

American cosmetics retailer Ulta Beauty, Inc. announced a 32.7% decrease in first-quarter sales on Thursday, leading the company to topple into loss as disruptions related to the ongoing Covid-19 pandemic took their toll on its operations.


Ulta Beauty temporarily closed all of its stores in March - Instagram: @ultabeauty

 
For the first quarter ended May 2, 2020, the Bolingbrook, Illinois-based retailer reported net sales of $1.17 billion, compared to $1.74 billion in the prior-year period. Comparable sales fell 35.3%, compared to a 7.0% rise in the first quarter of 2019.
 
Due to the coronavirus crisis, Ulta temporarily closed all of its stores on March 19. The retailer launched curbside pickup in select locations on April 23, but has only been reopening stores since May 11. Currently 333 of the company’s locations are open to customers, while 840 are offering curbside pickup.

Ulta’s quarterly net loss came to $78.5 million, or $1.39 per diluted share, compared to net income of $192.2 million, or $3.26 per diluted share, in the first quarter of fiscal 2019.
 
“The rapid escalation of Covid-19 resulted in significant disruption to our operations,” said Ulta Beauty CEO Mary Dillon in a release. “For much of the first quarter, Ulta Beauty operated as a digital-only business, and while e-commerce sales exceeded our expectations, it was not enough to fully offset the impact of our store closings.”
 
Due to the prolonged store closures, Ulta furloughed a number of its store and salon associates on April 19, and has also implemented a range of other cost-saving measures in order to preserve its operations during and after the coronavirus crisis.

The company has, for example, suspended new hires, deferred merit increases and reduced marketing, travel and other discretionary expenses. Ulta’s capital expenditure plan for the current fiscal year has also been scaled down, with the retailer now expecting capital expenditure to total between $200 million and $210 million in fiscal 2020.
 
Having opened 11 new stores over the course of the first quarter, Ulta now operates a total of 1,264 retail locations, but has reduced its opening and relocation plans due to the coronavirus. The company now expects to open between 30 and 40 new stores and complete approximately three relocation projects this year.
 
In light of the rapidly evolving situation surrounding the Covid-19 epidemic, Ulta has not provided financial guidance for the second quarter or the full fiscal year.

Copyright © 2022 FashionNetwork.com All rights reserved.