BOLINGBROOK, Ill.--(BUSINESS WIRE)--Mar. 18, 2013--
Ulta Beauty (NASDAQ: ULTA) (the “Company”) today announced that its
Board of Directors has authorized a stock repurchase program pursuant to
which the Company may repurchase up to $150 million of the Company’s
common stock. The stock repurchase program is effective immediately and
will be funded from available working capital.
The stock repurchases may be made from time to time in the open market,
in privately negotiated transactions, or otherwise, at prices that the
Company deems appropriate and subject to market conditions, applicable
law and other factors deemed relevant in the Company’s sole discretion.
The repurchase program does not obligate the Company to repurchase any
dollar amount or number of shares of common stock, and may be suspended
or discontinued at any time.
About Ulta Beauty
Ulta Beauty is the largest beauty retailer that provides one-stop
shopping for prestige, mass and salon products and salon services in the
United States. Ulta Beauty provides affordable indulgence to its
customers by combining unmatched product breadth, value and convenience
with the distinctive environment and experience of a specialty retailer.
Ulta Beauty offers a unique combination of over 20,000 prestige and mass
beauty products across the categories of cosmetics, fragrance, haircare,
skincare, bath and body products and salon styling tools, as well as
salon haircare products. Ulta Beauty also offers a full-service salon in
all of its stores. As of February 2, 2013, Ulta operates 550 retail
stores across 45 states and also distributes its products through the
Company’s website: www.ulta.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended, and the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995, which reflect our current views with
respect to, among other things, future events and financial performance.
You can identify these forward-looking statements by the use of
forward-looking words such as “outlook,” “believes,” “expects,” “plans,”
“estimates,” or other comparable words. Any forward-looking statements
contained in this press release are based upon our historical
performance and on current plans, estimates and expectations. The
inclusion of this forward-looking information should not be regarded as
a representation by us or any other person that the future plans,
estimates or expectations contemplated by us will be achieved. Such
forward-looking statements are subject to various risks and
uncertainties, which include, without limitation: the impact of weakness
in the economy; changes in the overall level of consumer spending;
changes in the wholesale cost of our products; the possibility that we
may be unable to compete effectively in our highly competitive markets;
the possibility that our continued opening of new stores could strain
our resources and have a material adverse effect on our business and
financial performance; the possibility that new store openings and
existing locations may be impacted by developer or co-tenant issues; the
possibility that the capacity of our distribution and order fulfillment
infrastructure may not be adequate to support our recent growth and
expected future growth plans; the possibility of material disruptions to
our information systems; weather conditions that could negatively impact
sales; our ability to attract and retain key executive personnel; our
ability to successfully execute and implement our common stock
repurchase program; and other risk factors detailed in our public
filings with the Securities and Exchange Commission (SEC), including
risk factors contained in our Annual Report on Form 10-K for the fiscal
year ended January 28, 2012. Our filings with the SEC are
available at www.sec.gov.
The Company does not undertake to publicly update or revise its
forward-looking statements, whether as a result of new information,
future events or otherwise.
Source: Ulta Beauty
Ulta Beauty
Company Contacts:
Scott Settersten, 630-410-4807
Chief
Financial Officer
Laurel Lefebvre, 630-410-5230
Vice
President, Investor Relations
or
Media Contact:
DKC
Juliet
Horn, 212-981-5221