The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

Ulta Beauty Full-Year 2022 Revenue Tops $10 Billion

The American beauty retailer’s sales for 2022 increased 18.3 percent to $10.2 billion, from $8.6 billion in 2021 and $7.4 billion in 2019, pre-pandemic.

Ulta Beauty store in Herald Square. (Ulta Beauty)

Joan Kennedy

10 March 2023

The American beauty retailer’s sales for 2022 increased 18.3 percent to $10.2 billion, from $8.6 billion in 2021 and $7.4 billion in 2019, pre-pandemic. Net income rose nearly 30 percent year-over-year to $1.2 billion from $985 million in 2021, and profit was up 20 percent to $4 billion from $3.4 billion in 2021. The company chalked up its strong performance to beauty resilience in the face of economic turbulence, price increases, the introduction of new brands and decreased Covid limitations.

Results for the fourth quarter of 2022 ended Jan. 28 were in line with the company’s full-year performance: Net sales for the quarter rose 18.2 percent year-over-year to $3.2 billion. Net income was up 17.8 percent year-over-year to $341 million, from $298 million in 2021.

Learn more:

Beautycounter Enters Ulta Beauty

The move marks Beautycounter’s first big retail presence since doing a pop-up concept with Sephora in 2020.

About the author

Joan Kennedy

Joan Kennedy is Editorial Associate at The Business of Fashion. She is based in New York and covers beauty and marketing.

In This Article

Topics

Beauty

Buyout Giant CVC Seeks €1.25 Billion in Long-Awaited IPO

The firm has been working on a listing since at least 2022, with previous attempts buffeted by volatile markets.

How to Launch a Black Beauty Brand

In a three-part series, The Business of Beauty explores how Black founders Monique Rodriguez, Danessa Myricks and more built, launched and scaled their multi-million-dollar businesses. In part one, a look at how these entrepreneurs found their niche and harnessed early lessons that were critical to their growth

How Should We Feel About Tweens at Sephora?

There’s something both innocent and concerning about 13-year-olds’ obsession with skincare. Kids will always want to find new ways to express themselves, but the beauty industry has a responsibility to protect its youngest customers.

Why Puig’s IPO Timing Couldn’t Be Better

The family-owned Spanish conglomerate has confirmed it will pursue a public offering in the coming months. After a fairly fast transformation, the company now has a bold diversification strategy and a strong mix of brands in place, making it more ready than it has ever been for the European markets.