Ulta Beauty Announces Strategic Expansion Amid Industry Challenges

Ulta plans to open 200 new stores over three years while navigating competitive pressures and evolving consumer behavior.

Ulta Beauty aims to increase its store count to over 1,800 locations by adding 200 new stores in the next three years.
The company reaffirms its fiscal year 2024 guidance with expected net sales between $11 billion and $11.2 billion.
Ulta's stock has seen a decline following announcements of industry headwinds and a more competitive market landscape.
CEO Dave Kimbell highlighted efforts to boost sales through brand partnerships, an expanded loyalty program, and personalized promotions.
The board has approved a new $3 billion share repurchase authorization, replacing the previous authorization from March 2024.