The Annual Report - continued

Ulta Beauty, Inc. 2022 Annual Report

Other information in the Annual Report

For the questions in this part, refer to the portion of the Annual Report preceding the Financial Statements (up to page 45).

1. In addition to the financial statements, what are the major (i.e., the most substantive) sections of the Annual Report?
2. What of this additional information in the Annual Report do you think would be most useful to investors or analysts if they are interested in making earnings forecasts for Ulta for future quarters or years? Explain your answer, being specific about how the information can be used to help in forecasting future earnings.
3. The annual report of most companies includes a Letter to the Shareholders from the company Chief Executive Officer (CEO) that often sets the tone of the companys focus in the near future. Read the letter from Ultas CEO, David Kimbell, and briefly describe two key initiatives or areas of focus that he highlights in the letter.