Part 2) Conference call with analysts

1. Who are the key players on the conference call?

2. Which members of Ultas management team were involved on the call? What are their roles with the company? Which played a more active role in the call? Which do you think added the best insights when answering the analysts questions?

3. Which other members of management do you think would have been helpful to have on the call? What types of information or insights do you think these additional participants might have been able to provide? Be specific.

1. Interaction between management and analysts

Note: The question and answer portion of the conference call begins at approximately the 30:45 minute mark in the webinar.

4. Which analyst questions did you find most insightful to help you understand the drivers of either Ultas recent or future performance? Be specific about the questions and what you learned from the questions and/or response by management. Discuss at least 3 distinct questions and response in your answer.

5. What questions do you wish had been asked by the analysts to help interpret Ultas results or assess future performance expectations? Create at least 3 questions and discuss why you would find them useful.