Quarterly report pursuant to Section 13 or 15(d)

Business and Basis of Presentation

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Business and Basis of Presentation
 3 Months Ended
Apr. 28, 2012
Business and Basis of Presentation [Abstract]  
Business and basis of presentation
1. Business and basis of presentation

Ulta Salon, Cosmetics & Fragrance, Inc. (Company or Ulta) was incorporated in the state of Delaware on January 9, 1990, to operate specialty retail stores selling cosmetics, fragrance, haircare and skincare products, and related accessories and services. The stores also feature full-service salons. As of April 28, 2012, the Company operated 467 stores in 44 states, as shown in the table below:

 

             

State

   Number of
stores		  

State

   Number of
stores

Alabama

   9   Missouri   6

Arizona

   23   Montana   1

Arkansas

   3   Nebraska   2

California

   42   Nevada   6

Colorado

   11   New Hampshire   1

Connecticut

   3   New Jersey   13

Delaware

   1   New Mexico   1

Florida

   31   New York   16

Georgia

   20   North Carolina   17

Idaho

   1   North Dakota   1

Illinois

   37   Ohio   15

Indiana

   9   Oklahoma   7

Iowa

   4   Oregon   5

Kansas

   3   Pennsylvania   18

Kentucky

   6   Rhode Island   1

Louisiana

   5   South Carolina   6

Maine

   2   Tennessee   7

Maryland

   8   Texas   59

Massachusetts

   6   Utah   5

Michigan

   18   Virginia   11

Minnesota

   11   Washington   8

Mississippi

   3   Wisconsin   5
           

 
        Total   467

The accompanying unaudited financial statements and related notes have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial information and with the instructions to Form 10-Q and the U.S. Securities and Exchange Commission’s Article 10, Regulation S-X. In the opinion of management, the accompanying financial statements reflect all adjustments, which are of a normal recurring nature, necessary to fairly state the financial position and results of operations and cash flows for the interim periods presented.

The Company’s business is subject to seasonal fluctuation. Significant portions of the Company’s net sales and net income are realized during the fourth quarter of the fiscal year due to the holiday selling season. The results for the 13 weeks ended April 28, 2012 are not necessarily indicative of the results to be expected for the fiscal year ending February 2, 2013, or for any other future interim period or for any future year.

These interim financial statements and the related notes should be read in conjunction with the financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended January 28, 2012. All amounts are stated in thousands, with the exception of per share amounts and number of stores.