Ulta Beauty, Inc. Gift Card Breakage — Revenue remained flat by 0.0% to $6.74M in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 11.0%, from $6.07M to $6.74M. Over 4 years (FY 2021 to FY 2025), Gift Card Breakage — Revenue shows an upward trend with a 15.3% CAGR. This decline may warrant attention — for this metric, higher values are generally preferred.
An increase suggests higher gift card sales volume or a change in customer redemption behavior, while a decrease may indicate higher customer engagement or changes in expiration policies.
This metric represents the revenue recognized from gift cards that are expected to remain unredeemed by customers, known...
Most large retailers with significant gift card programs report this as a component of other revenue or as a reduction in operating expenses, often correlated with total gift card issuance volume.
ulta_segment_gift_card_breakage_revenues| FY'21 | FY'22 | FY'23 | FY'24 | FY'25 | |
|---|---|---|---|---|---|
| Value | $15.27M | $18.84M | $22.61M | $24.29M | $26.97M |
| YoY Change | — | +23.4% | +20.0% | +7.5% | +11.0% |