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The American beauty retailer’s sales for 2022 increased 18.3 percent to $10.2 billion, from $8.6 billion in 2021 and $7.4 billion in 2019, pre-pandemic. Net income rose nearly 30 percent year-over-year to $1.2 billion from $985 million in 2021, and profit was up 20 percent to $4 billion from $3.4 billion in 2021. The company chalked up its strong performance to beauty resilience in the face of economic turbulence, price increases, the introduction of new brands and decreased Covid limitations.
Results for the fourth quarter of 2022 ended Jan. 28 were in line with the company’s full-year performance: Net sales for the quarter rose 18.2 percent year-over-year to $3.2 billion. Net income was up 17.8 percent year-over-year to $341 million, from $298 million in 2021.
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Beautycounter Enters Ulta Beauty
The move marks Beautycounter’s first big retail presence since doing a pop-up concept with Sephora in 2020.
