Part 1) Review of press release and 10-Q relating to Q2 2022 financial performance

Ulta released its second quarter (Q2) earnings report for fiscal 2023 after the close of the stock market on August 24, 2023. On the same day it also filed Form 10-Q with the SEC. Use these documents to answer the following questions (both of these documents can be found on Blackboard).

1. Select three key measures of performance reported by Ultas in the press release document for the second quarter. How does performance for each of the three metrics compare to the results for the metric for the 2^nd quarter of last year (i.e., Q2, 2022)?

2.

What do each of these metrics tell you about Ultas performance (i.e., what do they reveal and why are they useful metrics)? Which of the metrics do you find to be the most useful and meaningful in evaluating Ultas performance and why? Be specific.

3.

Compare the information included in the Press Release for Q2 2022 with that in second quarter Form 10-Q. Describe briefly the type of additional information that is included in the Form 10-Q beyond that in the Press Release.

4. Do either of the documents include information about management guidance or its outlook for future periods? If so, describe which items are forecasted and for which future period(s).