New Update On Ulta Beauty ($ULTA): Comments On October’s Investor Day

On July I wrote a (long) deep-dive about Ulta Beauty (ULTA) called “ULTA: Waiting for Strategic Clarification” (paywall lifted for the next week). In that article I detailed the reasons why I preferred to stay in the sidelines and wait for additional clarification about the company’s growth plans, that would probably be provided in the August’s earnings call or the Investor Day planned for October. On August, after the earnings call, I published an update with similar conclusions: let’s wait for more clarification on the Investor Day. Now, the Investor Day has finally passed and I’m publishing a new update, and guess what? There is again no relevant news to change my mind and be really excited about this company.

Anyway, let’s go through the comments provided in the Investor Day in relation with the main uncertainties stated in my previous article: