Dafinchi AI

ULTA

Consumer

Capital expenditures totaled $77 million, primarily for new and remodeled stores, with depreciation up 9% to $71 million.
Comparable sales grew 6.7%, driven by a 3.7% increase in transactions and a 2.9% increase in average ticket size.
Diluted earnings per share increased 9.1% to $5.78, including a $0.03 tax benefit from stock-based compensation.
Gross margin expanded by 90 basis points to 39.2%, aided by lower inventory shrink and merchandise margin expansion.
Inventory rose to $2.4 billion from $2 billion, reflecting new brand launches, store growth, and the Space NK acquisition.
Net sales increased 9.3% to $2.8 billion in Q2 2025 compared to $2.6 billion last year.
Operating profit rose 4.8% to $345 million, representing 12.4% of sales, down 50 basis points from 12.9% last year.
SG&A expenses increased 15% to $742 million, or 26.6% of sales, due to higher incentive compensation, payroll, and corporate overhead.

PFGC

Consumer

Adjusted EBITDA increased 19.9% to $546.9 million in Q4, surpassing guidance.
Convenience segment achieved double-digit profit growth for the full year and 4.8% adjusted EBITDA growth in Q4.
Diluted EPS and adjusted EPS growth reflect strong margin and operational improvements across segments.
Gross profit increased 14.6% in Q4, with a $0.17 increase in gross profit per case year-over-year.
Net income for Q4 was $131.5 million; adjusted diluted EPS rose 6.9% to $1.55.
Operating cash flow for 2025 was $1.2 billion with free cash flow of approximately $704 million after $506 million CapEx.
PFG's total net sales grew 11.5% in Q4 2025, boosted by acquisitions of José Santiago and Cheney Brothers.
Specialty segment saw a 9% adjusted EBITDA growth rebound in Q4 with 4.1% net sales increase.

Consumer

Consumer-facing investments increased 400 basis points for the full year, contributing to margin pressure but fueling growth.
Diluted EPS decreased 42% year-over-year, with Q4 EPS at $0.09 versus $0.64 last year.
Fiscal 2025 full year organic sales declined 8%, with nearly two-thirds of the decline from travel retail, which fell 28%.
Fourth quarter organic net sales declined 13%, with all categories down except fragrance, and travel retail as a primary driver.
Generated $1.3 billion net cash flow from operations in fiscal 2025, down from $2.4 billion prior year, impacted by lower earnings and restructuring payments.
Gross margin expanded 230 basis points to 74%, exceeding May outlook by 50 basis points despite volume deleverage.
Operating margin contracted 220 basis points to 8%, driven by sales declines and increased consumer-facing investments.
Recorded $425 million impairment charges in Q4 related to Dr.Jart+ and Too Faced due to underperformance in key markets.

COTY

Consumer

Adjusted EPS for fiscal 2025 was $0.50, at the upper end of guidance, with 4% growth despite lower operating income.
Adjusted gross margin expanded by 50 basis points to 64.9% in fiscal 2025, driven by supply chain savings and pricing carryover benefits.
Fiscal year 2025 adjusted EBITDA was $1.08 billion, slightly down but with a margin expansion of 60 basis points to 18.4%.
Free cash flow was $278 million, slightly below the $300 million target due to lower cash profits and higher customer overdues.
Leverage ratio improved from 6.8x in fiscal 2021 to 3.5x in fiscal 2025, despite a 0.2 turn increase in Q4 due to U.S. dollar depreciation adding $200 million to debt.
Net revenues declined 2% like-for-like in fiscal 2025 and 9% in Q4, reflecting retailer destocking and lapping blockbuster launches from fiscal 2024.
Q4 adjusted EBITDA declined 23% due to operating deleverage from lower sales and gross margin contraction.

TJX

Consumer

Diluted earnings per share grew 15% to $1.10, well above expectations.
Gross margin improved 30 basis points primarily due to favorable hedges, while merchandise margin remained flat despite higher tariffs.
Inventory increased 14% on balance sheet and 10% per store, reflecting buying into quality branded merchandise opportunities.
Net interest income negatively impacted pre-tax profit margin by 10 basis points compared to last year.
Pre-tax profit margin rose 50 basis points year-over-year to 11.4%, 90 basis points above the high end of plan.
Second quarter comp sales increased 4%, exceeding expectations and driven by higher customer transactions across all divisions.
SG&A expenses decreased 30 basis points due to operational efficiencies and timing of expenses.
Strong segment profit margin growth in key divisions: Marmaxx at 14.2%, HomeGoods at 10% growth with 90 basis points margin increase, TJX Canada comp sales up 9% with 100 basis points margin growth.

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