Ulta Beauty Q2 revenue +8.9% to $3.04B, net income +8.1%; comp sales slow to 3.8%, buybacks accelerate

Filed August 27, 2026 · Period ending August 1, 2026 · Compared to 10-Q Aug 28, 2025 · ~1 min read

Key Changes

• high

  Comparable sales growth decelerated to 3.8% from 6.7% prior year, driven entirely by average ticket (+3.9%) with no disclosed transaction growth, suggesting weaker traffic trends.

  MD&A: Comparable Sales verify on EDGAR →
• high

  Share repurchases nearly doubled to $798.6M (1.44M shares) in the first half vs $472.4M prior year, leaving $1.0B of the October 2024 $3.0B authorization remaining.

  MD&A: Capital Allocation verify on EDGAR →
• medium

  Net interest swung from $1.4M income to $3.7M expense as credit facility borrowings rose to $339.6M from $289.1M, reflecting higher working capital and capital allocation needs.

  MD&A: Interest Expense verify on EDGAR →