Ulta 2008 Annual Report Download - page 20

requirements and allowable claims. The labeling of cosmetic products is subject to the requirements of the
FDC Act, the Fair Packaging and Labeling Act and other FDA regulations.
The government regulations that most impact our day-to-day operations are the labor and employment and
taxation laws to which most retailers are typically subject. We are also subject to typical zoning and real estate
land use restrictions and typical advertising and consumer protection laws (both federal and state). Our salon
business is subject to state board regulations and state licensing requirements for our stylists and our salon
procedures.
In our store leases, we require our landlords to obtain all necessary zoning approvals and permits for the site
to be used as a retail site and we also ask them to obtain any zoning approvals and permits for our specific
use (but at times the responsibility for obtaining zoning approvals and permits for our specific use falls to us).
We require our landlords to deliver a certificate of occupancy for any work they perform on our buildings or
the shopping centers in which our stores are located. We are responsible for delivering a certificate of
occupancy for any remodeling or build-outs that we perform and are responsible for complying with all
applicable laws in connection with such construction projects or build-outs.
Associates
As of January 31, 2009, we employed approximately 3,900 people on a full-time basis and approximately
5,900 on a part-time basis. We have no collective bargaining agreements. We have not experienced any work
stoppages and believe we have good relationships with our associates.
Available Information
Our principal website address is www.ulta.com. We make available at this address under investor relations (at
http://ir.ulta.com), free of charge, our proxy statement, annual report to shareholders, annual report on
Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, and all amendments to those reports
as soon as reasonably practicable after such material is electronically filed with or furnished to the SEC.
Information available on our website is not incorporated by reference in and is not deemed a part of this
Form 10-K. In addition, our filings with the SEC may be accessed through the SEC’s Electronic Data
Gathering, Analysis and Retrieval (EDGAR) system at www.sec.gov. You may read and copy any filed
document at the SEC’s public reference rooms in Washington, D.C. at 100 F Street, N.E., Washington, D.C.
20549 and at the SEC’s regional offices in New York at 233 Broadway, New York, New York 10279 and in
Chicago at Citicorp Center, 500 W. Madison Street, Suite 1400, Chicago, Illinois 60661. Please call the SEC
at 1-800-SEC-0330 for further information about the public reference rooms. All statements made in any of
our securities filings, including all forward-looking statements or information, are made as of the date of the
document in which the statement is included, and we do not assume or undertake any obligation to update any
of those statements or documents unless we are required to do so by law.
Item 1A. Risk Factors
Investment in our common stock involves a high degree of risk and uncertainty. You should carefully consider
the following risks and all of the other information contained in this Form 10-K before making an investment
decision. If any of the following risks occur, our business, financial condition, results of operations or future
growth could suffer. In these circumstances, the market price of our common stock could decline, and you may
lose all or part of your investment. The risks described below are not the only ones facing our company.
Additional risks not presently known to us or which we currently consider immaterial also may adversely
affect our company.
Continued turbulence in global economic conditions and prolonged declines in consumer spending may
adversely affect our liquidity and financial condition.
Recent global market and economic conditions have been unprecedented and challenging with tighter credit
conditions and recession in most major economies continuing into 2009. Continued concerns about the
systemic impact of potential long-term and wide-spread recession, energy costs, geopolitical issues, the
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