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Ulta 3Q

Executive Summary

Beauty retailer recorded a 69% jump in profit in the third quarter (ended Oct. 31) to $8.46 mil. Quarterly sales increased 11.5% to $284 million. For the nine-month period, net sales advanced 11.2% to $826.4 million while net income grew 47% to $19.1 million. President and CEO Lyn Kirby says Ulta is well-positioned heading into the fourth quarter. "Because we expect the holiday season to be challenging, we have developed a very dynamic marketing and merchandising program with several new and exciting first-ever strategies to drive the top line," she states in a recent release. The firm plans to open 37 new stores and cut expenses by $18 mil. in the fourth quarter
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