Our brand awareness and loyalty program reached all-time highs, and our transformational initiatives are on track. The Ulta Beauty team delivered strong performance again this quarter, with sales, gross profit and EPS all exceeding our internal expectations. Now let's talk about our third quarter performance. And I am excited that Paula will bring her business-first mindset, influence and energy to the executive team. I am grateful to Scott for being intentional and thoughtful in ensuring we have a seamless plan for this critical leadership role. This announcement represents another great succession story for Ulta Beauty. Paula will be a great addition to our dynamic executive team, and I look forward to partnering with her as we continue our growth journey. Her deep understanding of our business, experience leading large finance organizations and strong commitment to nurturing talent with an inclusive culture make her the ideal person to serve as Ulta Beauty's next CFO. Since joining the company in 2019, she has established herself as a trusted partner and visionary leader. Paula is a dynamic finance executive with broad industry experience, and I am confident she is the right leader for this next chapter of Ulta Beauty's growth. With Scott's retirement, I'm very pleased to announce that Paula Oyibo will be our next Chief Financial Officer. He has been an exceptional partner to me and an inspirational leader for our team across the company. I want to express my sincere gratitude to Scott for his partnership and his remarkable contributions to our business. He's been a passionate steward of our business and the strong and constant shareholder returns achieved during his tenure are a testament to his leadership and disciplined approach to driving profitable growth. From his early days helping take Ulta Beauty public, and throughout the last 10 years as CFO, Scott's impact on Ulta Beauty has been tremendous. After nearly 20 years with Ulta Beauty and more than a decade as CFO, Scott Settersten, has shared with us his decision to retire, effective April 1, 2024. Starting with the succession plans we announced this afternoon. Then Scott will review the financial results and our outlook. I'll start today with comments about our CFO transition plans and then discuss our third quarter performance. We appreciate your interest in Ulta Beauty. Thank you, Kiley, and good afternoon, everyone. As always, the IR team will be available for any follow-up questions after the call. We respectfully ask that you limit your time to one question and one follow-up question. To allow us to accommodate as many questions as possible during the hour scheduled for this call. ![]() We'll begin this afternoon with prepared remarks from Dave and Scott, and then open up the call for questions. We have no obligation to update or revise our forward-looking statements, except as required by law, and you should not expect us to do so. We caution you not to place undue reliance on these forward-looking statements, which speak only as of today, November 30, 2023. Actual future results may differ materially from those projected in such statements due to a number of risks and uncertainties, all of which are described in the company's filings with the SEC. The statements contained in our conference call, which are not historical facts, may be deemed to constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Hosting our call today are Dave Kimbell, Chief Executive Officer and Scott Settersten, Chief Financial Officer Kecia Steelman, President and Chief Operating Officer, will join us for the Q&A session Paula Oyibo, Senior Vice President of Finance, is also on the call with us today.īefore we begin, I'd like to remind you of the company's safe harbor language. Good afternoon, everyone, and thank you for joining us for a discussion of Ulta Beauty's results for the third quarter of fiscal 2023. Kiley Rawlins, Vice President of Investor Relations. (Operator Instructions) As a reminder, this conference is being recorded. Good afternoon, and welcome to Ulta Beauty's Conference Call to discuss results for the third quarter of fiscal 2023. ![]() Oliver Chen MD & Senior Equity Research Analyst TD Cowen, Research Division Presentation Michael Charles Binetti Senior MD Evercore Inc. ![]() Michael Lasser MD and Equity Research Analyst of Consumer Hardlines UBS Investment Bank, Research Division Altschwager Senior Research Analyst Robert W. Lorraine Corrine Maikis Hutchinson MD in Equity Research BofA Securities, Research Division Krisztina Katai Research Analyst Deutsche Bank AG, Research Division
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