Ulta Salon, Cosmetics & Fragrance's CEO Discusses F2Q 2012 Results - Earnings Call Transcript

Ulta Salon, Cosmetics & Fragrance, Inc. (ULTA)

F2Q 2012 Earnings Call

September 6, 2012 5:00 pm ET

Executives

Laurel Lefebvre – Vice President, Investor Relations

Chuck Rubin – President and Chief Executive Officer

Gregg R. Bodnar – Chief Financial Officer

Analysts

Neely Tamminga – Piper Jaffray, Inc.

Daniel Hofkin – William Blair & Co. LLC

Matthew Fassler – Goldman Sachs & Co.

Brian Tunick –JPMorgan Securities LLC

Erika Maschmeyer – Robert W. Baird & Co., Inc.

Joseph Altobello – Oppenheimer & Co.

Jill Caruthers – Johnson Rice & Company LLC

Evren Kopelman – Wells Fargo Advisors LLC

Jason Gere – RBC Capital Markets

Presentation

Operator

Greetings and welcome to the Ulta Salon, Cosmetics & Fragrance, Inc. Fiscal Second Quarter 2012 Earnings Results Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. (Operator Instructions) As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host, Laurel Lefebvre, Vice President, Investor Relations. Thank you. You may now begin.

Laurel Lefebvre

Thank you. Good afternoon and thank you for joining us for Ulta’s second quarter 2012 conference call. Hosting our call are Chuck Rubin, President and Chief Executive Officer and Gregg Bodnar, Chief Financial Officer. Also joining us today is Bruce Hartman, who becomes our CFO tomorrow.

Before we begin, I would like to remind you of the company’s Safe Harbor language. The statements contained in this conference call, which are not historical facts, may be deemed to constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual future results may differ materially from those projected in such statements due to a number of risks and uncertainties, all of which are described in the company’s filings with the SEC. We may make references during this call to the metric free cash flow, a non-GAAP financial measure defined as cash provided by operating activities minus purchases of property and equipment.

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