Ulta 2014 Annual Report Download - page 36

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Item 6. Selected Financial Data
The following table presents our selected consolidated financial data. The table should be read in conjunction
with Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” and
Item 8, “Financial Statements and Supplementary Data,” of this Annual Report on Form 10-K.
Fiscal year ended(1)
January 31,
2015
February 1,
2014
February 2,
2013
January 28,
2012
January 29,
2011
(In thousands, except per share and per square foot data)
Income statement:
Net sales(2) .......................... $3,241,369 $2,670,573 $2,220,256 $1,776,151 $1,454,838
Cost of sales ......................... 2,104,582 1,729,325 1,436,582 1,159,311 970,753
Gross profit ........................ 1,136,787 941,248 783,674 616,840 484,085
Selling, general and administrative
expenses .......................... 712,006 596,390 488,880 410,658 358,106
Pre-opening expenses .................. 14,366 17,270 14,816 9,987 7,095
Operating income ................... 410,415 327,588 279,978 196,195 118,884
Interest (income) expense, net ............ (894) (118) 185 587 755
Income before income taxes ............. 411,309 327,706 279,793 195,608 118,129
Income tax expense .................... 154,174 124,857 107,244 75,344 47,099
Net income ........................ $ 257,135 $ 202,849 $ 172,549 $ 120,264 $ 71,030
Net income per common share:
Basic ........................... $ 4.00 $ 3.17 $ 2.73 $ 1.96 $ 1.20
Diluted .......................... $ 3.98 $ 3.15 $ 2.68 $ 1.90 $ 1.16
Weighted average common shares
outstanding:
Basic ........................... 64,335 63,992 63,250 61,259 58,959
Diluted .......................... 64,651 64,461 64,396 63,334 61,288
Dividends declared per common share ..... $ — $ — $ 1.00 $ — $ —
Other operating data:
Comparable sales increase:(3)
Retail and salon comparable sales ....... 8.1% 6.1% 8.8% 10.9% 11.0%
E-commerce comparable sales ......... 56.4% 76.6% 30.7% 37.8% 76.8%
Total comparable sales increase ........ 9.9% 7.9% 9.3% 11.5% 11.9%
Number of stores end of year ............ 774 675 550 449 389
Total square footage end of year .......... 8,182,404 7,158,286 5,847,393 4,747,148 4,094,808
Total square footage per store(4) ......... 10,572 10,605 10,632 10,573 10,526
Average total square footage(5) .......... 7,690,742 6,555,960 5,315,653 4,413,236 3,811,597
Net sales per average total square foot(6) . . . $ 421 $ 407 $ 418 $ 402 $ 382
Capital expenditures ................... 249,067 226,024 188,578 128,636 97,115
Depreciation and amortization ........... 131,764 106,283 88,233 75,931 64,936
Balance sheet data:
Cash and cash equivalents ............... $ 389,149 $ 419,476 $ 320,475 $ 253,738 $ 111,185
Short-term investments ................. 150,209————
Working capital ....................... 900,761 735,886 568,257 415,377 241,032
Property and equipment, net ............. 717,159 595,736 483,059 376,985 326,099
Total assets .......................... 1,983,170 1,602,727 1,275,249 957,217 730,488
Total stockholders’ equity ............... 1,247,509 1,003,094 786,942 584,704 402,533
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