Ulta Beauty Announces 60+ New Stores and 40+ Remodels in 2024

JOHN TRAV-ULTA

Ulta Beauty Announces 60+ New Stores and 40+ Remodels in 2024 (Read More)

Ulta Beauty continues its expansion journey with new store openings and international ventures.

• Domestic Expansion: Plans 60-65 net new stores and 40-45 remodels/relocations in 2024.

• Q4 Earnings and Revenue: Net income increased 15.7% to $394.4 million in Q4.

• Net Sales Growth: Achieved a 10.2% increase in net sales, reaching $3.55 billion.

• Comparable Sales: Reported a 2.5% rise in comparable sales for the quarter.

• 2023 Store Activity: Opened 33 new stores, relocated 7, and remodeled 18.

• Total Store Count: Ended the year with 1,385 stores across 14.5 million square feet.

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NET LEASE NUGGIES

• Interest Rates "Unlikely" to Return Pre-Pandemic Levels US Treasury Secretary Janet Yellen stated market interest rates are unlikely to revert to pre-pandemic levels. Yellen, in comments to reporters, explained the higher interest rate projections in the $7.3 trillion fiscal 2025 budget proposal align with private sector forecasts, veering from prior year estimates. (Read More)

• House approves 100% Bonus Depcreciation Bill The newly passed Tax Relief for American Families and Workers Act of 2024 awaits the Senate for approval. President Biden's potential signature or veto would trigger the 2025 business tax relief extension, offering a temporary 100% bonus depreciation for express car washes and combination fuel and convenience stores. (Read More)
  

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