Ulta Beauty posts 3Q results
BOLINGBROOK, Ill. — Ulta Beauty posted a double-digit gain in third-quarter sales and net income and bolstered market share across all of its major product categories, the beauty retailer announced on Thursday.
For the quarter ended Oct. 27, net sales rose 22.4% to $505.6 million from $413.1 million in the year-ago period. Same-store sales rose 8.4%.
Net income rose 42.5% to $38.2 million for the quarter. Income per diluted share rose 40.5% to 59 cents per share compared with 42 cents per share in the year-ago period.
During the quarter, Ulta opened 49 stores, increasing its store base by 10% during a single quarter, and completed most of the previously announced prestige brand boutiques. It ended the quarter with Lancôme boutiques in 79 of its stores and Clinique boutiques in 42 stores. The company ended the third quarter with a total of 537 stores.
Looking ahead to next year, Ulta expects to exceed its long-term plans for 15% to 20% annual store growth and currently plans to open approximately 125 stores in 2013, representing 22% square footage growth, the company stated.
Former Unilever exec named EVP, CFO of Regis
MINNEAPOLIS — Former Unilever Group executive has been appointed EVP and CFO of Regis, a provider of beauty salons, hair restoration centers and cosmetology education.
Joining Regis, effective Dec. 3, is Steven Spiegel, who most recently served as VP finance and corporate controller of Unilever (formerly Alberto Culver) from 2010 to May 2012; as VP commercial finance of Americas, Asia Pacific and Africa of Alberto Culver from 2007 to 2010; and VP of commercial finance, U.S. Branded Beauty of Alberto Culver from 2005 to 2007. Unilever acquired Alberto Culver in May 2011.
Brent Moen will step down as CFO but will continue his employment with Regis through Jan. 4 to facilitate a smooth and orderly transition.
Walgreens unveils Los Angeles flagship store at iconic location
DEERFIELD, Ill. — Walgreens is welcoming the public on Dec. 1 to the official opening of its 8,000th store nationwide and its first flagship store on the West Coast, located in Los Angeles at the iconic corner of Sunset and Vine. (To see extensive photos of the new store and the star-studded, red carpet grand opening event, click here.)
Walgreens continues to raise the bar as the store, which is the original location of Schwab’s drug store where Hollywood stars like Lana Turner were first discovered at the soda fountain, features an extensive collection of innovative offerings, products and services unexpected from a traditional drug store.
“We are thrilled to locate our milestone 8,000th store and latest flagship store at such a famous intersection as we bring a format unlike any traditional drug store to the Hollywood community,” said Joe Magnacca, Walgreens president of daily living products and solutions. “Walgreens aims to be America’s first choice for health and daily living, and we look forward to providing an exceptional experience for our customers as we help them get, stay and live well.”
“I’m very proud that Walgreens has chosen Los Angeles for its milestone 8,000th store, and is providing Hollywood residents with more access to pharmacy, health and wellness services. This flagship location brings not only a unique retail offering to this community, but also additional jobs and economic investment that help build a vibrant neighborhood,” Los Angeles Mayor Antonio Villaraigosa added.
The store’s expanded features include a LOOK Boutique beauty department with dozens of prestige and niche cosmetic, skin care and hair care brands not typically found in drug stores. As part of it, Britain’s leading skin care brand, No7, created by Boots, will be available in a Walgreens store for the first time. No7 is well-known for its range of anti-aging beauty serums, all independently scientifically tested.
The availability of No7 products at this Walgreens follows the strategic partnership between Walgreens and Alliance Boots, an international pharmacy-led health and beauty group. Last June, Walgreens and Alliance Boots entered into a strategic transaction designed to create the first global pharmacy-led, health and well-being enterprise.
The LOOK Boutique also will be staffed with specially trained beauty advisors, including a No7 beauty advisor. Expert shaping and grooming services will be available at the Eyebrow Bar.
The store also includes:
An enhanced pharmacy designed to encourage greater interaction between pharmacists and patients. Team member “health guides” will help pharmacy customers navigate a wide range of health-and-wellness products, services and resources, including immunizations and health tests. The pharmacy also features an “Ask Your Pharmacist” desk, consultation rooms and Express Rx kiosks for swift checkout;
A wide variety of fresh hand-rolled sushi and sashimi prepared daily;
An Upmarket Cafe offering a barista preparing fresh brewed coffee, espressos, as well as iced and frozen options;
A juice and smoothie bar featuring fresh fruits and vegetables. Customers also can enjoy eight flavors of self-serve frozen yogurt accompanied by a toppings bar;
Hundreds of fresh food items, including produce and on-the-go meal options, such as wraps, sandwiches and salads made fresh daily;
A best-in-class wine selection boasting more than 700 wines that will pair well with the store’s assortment of artisan and brie cheeses, as well as specialty meats, chocolates and more — a Beverage Wizard kiosk provides food and beverage pairing recommendations; and
A Coca-Cola Freestyle machine dispensing 130 varieties of Coca Cola fountain drinks.
During the flagship and 8,000th store ribbon-cutting ceremony, Walgreens will acknowledge World AIDS Day and the company’s involvement in treating and preventing HIV/AIDS by presenting a $10,000 donation to Charles Drew University in recognition of its HIV-related programming and outreach.