Ulta Beauty is certainly the most-loved beauty brand by consumers, as is evident in its latest financial report for the fiscal year 2021. The financial report exhibited a net sales increase of 40.3%, and its net profit was $985.8 million compared to last year at $175.8 million, up 461%. Ulta Beauty’s gross margin was 39% in 2021, compared to 31.7% last year. The brand had a strong performance for the full year, especially in the fourth quarter (Q4). Ulta Beauty has Target as its strategic partner and also showcased singer Rihanna’s brand Fenty Beauty on its shelves recently. The brand follows a six-pillar strategy to grow its business. The brand added new assortments, expanded its omnichannel presence, and attracted beauty shoppers. Ulta Beauty also augmented its operational excellence with optimization and sustainability efforts.
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