Ulta Beauty Unleashed: Q1 2026 Sees Strong Sales Growth and Continued Expansion
Ulta Beauty has kicked off its fiscal year 2026 with impressive results, driven by the strength of its core U.S. business and strategic initiatives to scale new businesses.
In a conference call on June 2nd, Kecia Steelman, Chief Executive Officer, and Chris DelOrefice, Chief Financial Officer, shared highlights from the company's first quarter performance, which saw net sales growth of 11.1%, comparable sales growth of 5.3%, and 15.5% diluted EPS growth.
The company's core U.S. business continued to fuel overall performance, with a relentless focus on delighting guests through every interaction and building on new go-to-market approaches, marketing leadership, and merchandising innovation. Stores delivered solid sales performances, supported by successful execution of key promotional and marketing events, including 21+ Days of Beauty and Spring Haul.
During the quarter, Ulta Beauty executed more than 40,000 in-store events, highlighting newness from brands like Coach, Cécred, Live Tinted, and holding workshops to support education for brands like Redken, Rare Beauty, and Lancôme. The company's e-commerce momentum also continued, with sales performance driven by investments made over the last several years to elevate infrastructure and ongoing enhancements such as expanded same-day delivery options through Uber Eats and new buy now, pay later options through Klarna.
"Our core U.S. business is fundamentally strong in delivering healthy sales growth," said Kecia Steelman during the conference call. "We are exercising financial discipline and working thoughtfully to optimize our cost and investments to position our business to deliver consistent double-digit earnings growth."
Ulta Beauty's focus on capitalizing on strengths of its model and executing its Ulta Beauty Unleashed strategy positions the company well for long-term profitable growth and value creation. With continued execution and a keen eye on the macro landscape, Ulta Beauty remains confident in delivering fiscal 2026 expectations.
As the beauty category continues to show healthy growth, despite increasingly value-focused consumers, Ulta Beauty's diverse assortment, omnichannel convenience, and compelling loyalty rewards program uniquely position it to meet evolving guest needs. The company will continue to stay focused on driving engagement, education, and excitement in stores, while also staying true to its commitment to capitalizing on strengths of its model.
With these strong first-quarter results, Ulta Beauty has set a solid foundation for the rest of fiscal 2026, positioning itself for continued success and growth in the competitive beauty landscape."
