Quarterly report pursuant to Section 13 or 15(d)

Business and Basis of Presentation

 v2.3.0.11
Business and Basis of Presentation
 6 Months Ended
Jul. 30, 2011
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 July 30, 2011, the Company operated 415 stores in 42 states, as shown in the table below:
                     
    Number of       Number of
State   stores   State   stores
Alabama
    7     Mississippi     3  
Arizona
    23     Missouri     4  
Arkansas
    3     Nebraska     2  
California
    36     Nevada     6  
Colorado
    11     New Hampshire     1  
Connecticut
    3     New Jersey     12  
Delaware
    1     New Mexico     1  
Florida
    30     New York     13  
Georgia
    18     North Carolina     16  
Idaho
    1     Ohio     12  
Illinois
    35     Oklahoma     7  
Indiana
    8     Oregon     5  
Iowa
    4     Pennsylvania     18  
Kansas
    3     Rhode Island     1  
Kentucky
    4     South Carolina     6  
Louisiana
    3     Tennessee     5  
Maine
    2     Texas     54  
Maryland
    6     Utah     3  
Massachusetts
    5     Virginia     11  
Michigan
    12     Washington     6  
Minnesota
    9     Wisconsin     5  
 
                   
 
          Total     415  
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 three and six months ended July 30, 2011 are not necessarily indicative of the results to be expected for the fiscal year ending January 28, 2012, 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 fiscal year ended January 29, 2011. All amounts are stated in thousands, with the exception of per share amounts and number of stores.