Ulta 2015 Annual Report Download - page 33

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 30,
2016
January 31,
2015
February 1,
2014
February 2,
2013
January 28,
2012
(In thousands, except per share and per square foot data)
Income statement:
Net sales(2) . . . . . . . . . . . . . . . . . . . . . . . . . . $3,924,116 $3,241,369 $2,670,573 $2,220,256 $1,776,151
Cost of sales . . . . . . . . . . . . . . . . . . . . . . . . . 2,539,783 2,104,582 1,729,325 1,436,582 1,159,311
Gross profit . . . . . . . . . . . . . . . . . . . . . . . . 1,384,333 1,136,787 941,248 783,674 616,840
Selling, general and administrative
expenses .......................... 863,354 712,006 596,390 488,880 410,658
Pre-opening expenses . . . . . . . . . . . . . . . . . . 14,682 14,366 17,270 14,816 9,987
Operating income . . . . . . . . . . . . . . . . . . . 506,297 410,415 327,588 279,978 196,195
Interest (income) expense, net . . . . . . . . . . . . (1,143) (894) (118) 185 587
Income before income taxes . . . . . . . . . . . . . 507,440 411,309 327,706 279,793 195,608
Income tax expense . . . . . . . . . . . . . . . . . . . . 187,432 154,174 124,857 107,244 75,344
Net income . . . . . . . . . . . . . . . . . . . . . . . . $ 320,008 $ 257,135 $ 202,849 $ 172,549 $ 120,264
Net income per common share:
Basic . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 5.00 $ 4.00 $ 3.17 $ 2.73 $ 1.96
Diluted . . . . . . . . . . . . . . . . . . . . . . . . . . $ 4.98 $ 3.98 $ 3.15 $ 2.68 $ 1.90
Weighted average common shares
outstanding:
Basic . . . . . . . . . . . . . . . . . . . . . . . . . . . 63,949 64,335 63,992 63,250 61,259
Diluted . . . . . . . . . . . . . . . . . . . . . . . . . . 64,275 64,651 64,461 64,396 63,334
Dividends declared per common share . . . . . $ — $ — $ — $ 1.00 $ —
Other operating data:
Comparable sales increase:(3)
Retail and salon comparable sales . . . . . . . 10.0% 8.1% 6.1% 8.8% 10.9%
E-commerce comparable sales . . . . . . . . . 47.5% 56.4% 76.6% 30.7% 37.8%
Total comparable sales increase . . . . . . . . 11.8% 9.9% 7.9% 9.3% 11.5%
Number of stores end of year . . . . . . . . . . . . 874 774 675 550 449
Total square footage end of year . . . . . . . . . . 9,225,957 8,182,404 7,158,286 5,847,393 4,747,148
Total square footage per store(4) . . . . . . . . . 10,556 10,572 10,605 10,632 10,573
Average total square footage(5) . . . . . . . . . . 8,724,581 7,690,742 6,555,960 5,315,653 4,413,236
Net sales per average total square foot(6) . . . $ 450 $ 421 $ 407 $ 418 $ 402
Capital expenditures . . . . . . . . . . . . . . . . . . . 299,167 249,067 226,024 188,578 128,636
Depreciation and amortization . . . . . . . . . . . 165,049 131,764 106,283 88,233 75,931
Repurchase of common shares . . . . . . . . . . . 167,396 39,923 37,337 — —
Balance sheet data:
Cash and cash equivalents . . . . . . . . . . . . . . . $ 345,840 $ 389,149 $ 419,476 $ 320,475 $ 253,738
Short-term investments . . . . . . . . . . . . . . . . . 130,000 150,209 ———
Working capital(7) . . . . . . . . . . . . . . . . . . . . 978,946 900,761 735,886 568,257 415,377
Property and equipment, net . . . . . . . . . . . . . 847,600 717,159 595,736 483,059 376,985
Total assets . . . . . . . . . . . . . . . . . . . . . . . . . . 2,230,918 1,983,170 1,602,727 1,275,249 957,217
Total stockholders’ equity . . . . . . . . . . . . . . . 1,442,886 1,247,509 1,003,094 786,942 584,704
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