Ulta Beauty — Dec 4, 2025 release

​ Fiscal 2025 Outlook The Company is revising its previous guidance for fiscal 2025 as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Prior Fiscal 2025 Outlook ​ Updated Fiscal 2025 Outlook Net sales ​ ​ $12.0 billion to $12.1 billion ​ Approximately $12.3 billion Comparable sales ​ ​ 2.5% to 3.5% ​ 4.4% to 4.7% New stores, net ​ ​ approximately 63 ​ no change Store remodel and relocation projects ​ ​ 43-48 ​ no change Operating margin ​ ​ 11.9% to 12.0% ​ 12.3% to 12.4% Diluted earnings per share ​ ​ $23.85 to $24.30 ​ $25.20 to $25.50 Share repurchases ​ ​ approximately $900 million ​ no change Interest expense, net ​ ​ approximately $4 million ​ no change Effective tax rate ​ ​ approximately 24.5% ​ no change Capital expenditures ​ ​ $425 million to $500 million ​ no change Depreciation and amortization expense ​ ​ approximately $300 million ​ no change ​ Conference Call Information ​ A conference call to discuss third quarter of fiscal 2025 results is scheduled for today, December 4, 2025, at 4:30 p.m. Eastern Time / 3:30 p.m. Central Time. Investors and analysts who are interested in participating in the call are invited to register for the live event at https://q3-2025-ulta-beauty-earnings-conference-call.open-exchange.net/. A replay will be available on the company's Investor Relations website at https://www.ulta.com/investor. There will also be an archived webcast available for a limited time thereafter. ​ About Ulta Beauty Ulta Beauty (NASDAQ: ULTA) is the largest specialty beauty retailer in the U.S. and a leading destination for cosmetics, fragrance, skin care, hair care, wellness and salon services. Since opening its first store in 1990, Ulta Beauty has grown to 1,500 stores across