Ulta Beauty Inc (NAS:ULTA)

$ 394.78 0.72 (0.18%) Market Cap: 18.60 Bil Enterprise Value: 20.05 Bil PE Ratio: 15.84 PB Ratio: 7.95 GF Score: 94/100

Ulta Beauty Inc at Morgan Stanley Global Consumer & Retail Conference Transcript

Dec 05, 2023 / 04:00PM GMT

Release Date Price: $481.42 (-1.10%)

Transcript 10-Q8-K

Simeon Ari Gutman

Morgan Stanley, Research Division - Executive Director

Okay. We're at time. Hi, everyone. I'm Simeon Gutman, Morgan Stanley's hardline, broadline, and food retail analyst. It is our pleasure to welcome Ulta management to this conference for a return presentation, represented by Dave Kimbell, CEO; and Scott Settersten, CFO, Treasurer, and Assistant Secretary.

I don't have my disclosure sheet, but I think I remember. Please see www. morganstanley.com/disclosures for important disclosures. Make a quick intro, sit down. I'm going to turn it to Dave for a minute.

Everyone knows we're talking about reversion in retail, tough consumer, this business. And this management team has largely bucked all these trends by staying prudent, by staying conservative, and making good investments in the business.

We're coming off an investment period, which should buoy this margin structure as we look forward. And this category has not been one of over consumption. It looks like it's been steady consumption, started a little bit later in the cycle, but a steady build throughout.

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