Ulta Beauty Plans Canada Launch, Its First International Move

Ulta Beauty is going international. The Bolingbrook, Ill.-based business said Thursday that it had plans to open its first non-U.S. locations, in Canada. “Our first step in becoming a global beauty retailer will be to prepare to launch operations in Canada,” said chief executive officer Mary Dillon in a statement. The expansion news came at the same time as the company’s first-quarter earnings. Dillon said the company’s “results reflect a healthy balance of traffic and ticket growth, and double-digit comparable sales growth in mass cosmetics, skin care and fragrance, tempered by continued mixed performance in prestige cosmetics.” For the quarter, Ulta’s net sales increased 12.9 percent to $1.74 billion, up from $1.54 billion in the prior-year period. Net income was up 16.9 percent year-over-year, to $192.2 million, from $164.4 million. Diluted earnings per share were up 20.7 percent, to $3.26. Ulta plans to open 80 stores in 2019. The company said it expects sales to increase in the low double-digits percentage range.

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