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 the U.S. and redefined beauty retail by bringing together All Things