Ulta Beauty, Inc. (NASDAQ:ULTA) Q3 2023 Earnings Call Transcript

As I said, we’re gaining share in many parts of our business. And so, we’re pinpointed in how we want to leverage our promotional intensity. We don’t want to wildly swing back when we have confidence that it’s not just promo that will return to share growth, it’s the collective strategies and actions, the long-term efforts around assortment and execution that will drive share growth over time. And so we’ll leverage promo in the short term, we have been. But as we’ve said earlier, we in no way have turned back to 2019, which is one indicator. We’re not just going to swing wildly. We’ll be thoughtful, strategic and have clear actions and long-term actions that get us to sustain share growth. And I say that from a position of confidence given our track record of gaining share consistently for many years, and we’re confident we’ll be able to do that well into the future.

Dave Kimbell: All right. So, thank you for that question, Michael, and thanks for all of you for your engagement. I want to close by thanking our more than 53,000 Ulta Beauty associates for delivering another strong quarter for our shareholders while also successfully executing against our strategic priority. And once again, I want to thank Scott for his partnership and tremendous impact on Ulta Beauty, and I want to congratulate Paula as I know she is going to be an outstanding CFO for our company. We wish you all a happy and healthy holiday season. I hope you get out and shop at Ulta Beauty often. And we look forward to speaking to you again when we report results for fiscal 2023 on March 14th. Hope you have a good evening.

Operator: And this concludes today’s conference, and you may disconnect your lines at this time. Thank you for your participation.