Latest news with #UltaBeautyUnleashed
CNBC
7 days ago
- Business
- CNBC
Ulta and Target will end deal for in-store beauty shops next year
Ulta Beauty and Target said Thursday that they have decided to end a deal that opened makeup and beauty shops in hundreds of Target's stores. Shares of Target fell about 2% in early trading, while Ulta's stock slid about 1%. In a news release, the companies said the partnership — which also added some of Ulta's merchandise to Target's website — will end in August 2026. Target had added more than 600 Ulta Beauty shops to its stores, according to a company spokesperson. That's nearly a third of Target's 1,981 U.S. stores. The loss of the popular beauty retailer's products could be another blow to Target as it tries to woo back both shoppers and investors. Target's annual sales have been roughly flat for four years and it expects sales to decline this fiscal year. Shares of the company are worth less than half of what the were back in 2021, when they hit an all-time closing high of $266.39. On earnings calls and in investor presentations, leaders of the Minneapolis-based company had touted Ulta's shops and its trendy beauty brands as a way to drive store traffic. At a investor presentation in New York City in March, CEO Brian Cornell highlighted beauty as a growth category for Target and cited it as reason for confidence in Target's long-term business. He said the company gained market share in the beauty and its sales in the category rose by nearly 7% in the fiscal year that ended in early February. In a statement on Thursday, Target Chief Commercial Officer Rick Gomez said the discounter is "proud of our shared success with Ulta Beauty and the experience we've delivered together." "We look forward to what's ahead and remain committed to offering the beauty experience consumers have come to expect from Target – one centered on an exciting mix of beauty brands with continuous newness, all at an unbeatable value," he said. In a statement, Ulta's Chief Retail Officer Amiee Bayer-Thomas described the Target deal as "one of many unique ways we have brought the power of beauty to guests nationwide." "As we continue to execute our Ulta Beauty Unleashed plans, we're confident our wide-ranging assortment, expert services and inspiring in-store experiences will reinforce our leadership in beauty and define the next chapter of our brand," she said.
Business Wire
7 days ago
- Business
- Business Wire
Ulta Beauty and Target Announce Plans to Conclude Partnership in 2026
BOLINGBROOK, Ill. & MINNEAPOLIS--(BUSINESS WIRE)--Today, Ulta Beauty (NASDAQ: ULTA) and Target Corporation (NYSE: TGT) announced that they have mutually agreed not to renew the Ulta Beauty at Target shop-in-shop partnership when the current agreement concludes in August 2026. Until then, the Ulta Beauty at Target experience will continue in Target stores and on Since launching in 2021, Ulta Beauty at Target has expanded access to prestige beauty and offered beauty enthusiasts the benefit of linking their Ulta Beauty Rewards and Target Circle accounts for added convenience and value. Guests with linked rewards accounts will continue to earn Ulta Beauty Rewards on eligible Ulta Beauty at Target purchases until August 2026. 'For 35 years, Ulta Beauty has revolutionized how people experience beauty – bringing together an unmatched assortment from mass to luxury – and our partnership with Target was one of many unique ways we have brought the power of beauty to guests nationwide,' said Amiee Bayer-Thomas, chief retail officer, Ulta Beauty. 'As we continue to execute our Ulta Beauty Unleashed plans, we're confident our wide-ranging assortment, expert services and inspiring in-store experiences will reinforce our leadership in beauty and define the next chapter of our brand.' 'We're proud of our shared success with Ulta Beauty and the experience we've delivered together,' said Rick Gomez, executive vice president and chief commercial officer, Target. 'The magic of shopping for beauty at Target is the combination of on-trend products that delight consumers with an inspiring and convenient shopping experience. We look forward to what's ahead and remain committed to offering the beauty experience consumers have come to expect from Target – one centered on an exciting mix of beauty brands with continuous newness, all at an unbeatable value.' Both companies remain committed to delivering a seamless shopping experience and product availability through the end of the partnership, as well as continuing to support their teams and partners during the transition. As the largest U.S. specialty beauty retailer, Ulta Beauty delivers the best in beauty and wellness through an elevated omnichannel experience, including launching Ulta Beauty Marketplace later this year – a curated online destination designed to engage new brands and audiences. Target will continue to curate a differentiated beauty assortment and new experience for its tens of millions of weekly shoppers, featuring a compelling lineup of essentials and unexpected finds, engaging product trial events, and a commitment to affordable prices. About Ulta Beauty Ulta Beauty (NASDAQ: ULTA) is the largest specialty beauty retailer in the U.S. and a leading destination for cosmetics, fragrance, skincare, haircare, wellness and salon services. Since opening its first store in 1990, Ulta Beauty has grown to approximately 1,500 stores across the U.S. and redefined beauty retail by bringing together All Things Beauty. All in One Place®. With an expansive product assortment, professional salon services and its beloved Ulta Beauty Rewards loyalty program, the company delivers seamless, personalized experiences across stores, and the Ulta Beauty App – where the possibilities are truly beautiful. Ulta Beauty is also expanding its presence internationally through a joint venture in Mexico, a franchise in the Middle East, and its subsidiary, Space NK, a luxury beauty retailer operating in the U.K. and Ireland. For more information, visit About Target Minneapolis-based Target Corporation (NYSE: TGT) serves guests at nearly 2,000 stores and at with the purpose of helping all families discover the joy of everyday life. Since 1946, Target has given 5% of its profit to communities, which today equals millions of dollars a week. Additional company information can be found by visiting the corporate website and press center.
Fashion Network
10-07-2025
- Business
- Fashion Network
Ulta Beauty is new Space NK owner, purchase gives it instant scale in UK market
It's official. American giant Ulta Beauty is the new owner of British premium chain Space NK. The companies announced the news on Thursday saying Ulta acquired the business from long-term Space NK owner Manzanita Capital. Financial terms of the cash transaction weren't disclosed. But there was speculation that it would have been higher than £300 million ($408 million), reflecting the success enjoyed by Space NK in recent periods. The retailer sells a wide range of higher-end labels through its 83 UK and Ireland stores, and online, and will continue to do so as a standalone subsidiary of Ulta. It will also continue to be led by its existing management team under Space NK CEO Andy Lightfoot. For Ulta, it's not just an acquisition but an entry point into the strong UK beauty market. 'We are excited to enter the UK via the Space NK banner,' said Kecia Steelman, president and CEO of the American firm. 'International expansion is an integral part of our Ulta Beauty Unleashed plan, and the acquisition of Space NK offers a unique and strategically compelling opportunity to enter the growing UK market with a successful and growing brand. Along with our initiatives in Mexico and the Middle East, we are creating a broader platform for Ulta Beauty to unlock long-term, profitable growth.' Steelman also said Space NK's management team, 'with the backing of Manzanita Capital, has done an excellent job building a differentiated beauty experience that inspires consumers through tailored product mixes. We look forward to working with the team to support their continued growth and success'. Manzanita's CEO and founder Bill Fisher added that Space NK has been 'an important part' of its business for the past 23 years. 'The acquisition of Space NK from [founder] Nicky Kinnaird was a key influence in developing Manzanita's unique expertise in selecting and nurturing luxury and niche premium beauty and perfume brands. I have every confidence that Ulta Beauty and this terrific management team will take Space NK to new heights.' Meanwhile Lightfoot highlighted Ulta's powerful position in the US market and said the UK firm will 'benefit from its scale, brand relationships and resources to further fuel our mission to serve beauty obsessed consumers through expertise and innovation'.
Business Wire
10-07-2025
- Business
- Business Wire
Ulta Beauty Announces Acquisition of Leading British Beauty Retailer Space NK from Manzanita Capital
BOLINGBROOK, Ill.--(BUSINESS WIRE)--Ulta Beauty, Inc. (NASDAQ: ULTA) today announced that it has acquired Space NK Limited, a leading British beauty retailer, from Manzanita Capital, a beauty sector specialist investor with a long-term investment horizon. Financial terms of the transaction were not disclosed. Space NK is a curator of some of the world's most innovative beauty brands and a go-to destination for beauty discovery in its 83 stores in the UK and Ireland and online. Space NK will operate as a standalone subsidiary of Ulta Beauty and will continue to be led by its existing management team, including Space NK chief executive officer Andy Lightfoot. 'We are excited to enter the UK market via the Space NK banner,' said Kecia Steelman, president and chief executive officer of Ulta Beauty. 'International expansion is an integral part of our Ulta Beauty Unleashed plan, and the acquisition of Space NK offers a unique and strategically compelling opportunity to enter the growing UK market with a successful and growing brand. Along with our initiatives in Mexico and the Middle East, we are creating a broader platform for Ulta Beauty to unlock long-term, profitable growth.' 'Space NK's management team, with the backing of Manzanita Capital, has done an excellent job building a differentiated beauty experience that inspires consumers through tailored product mixes. We look forward to working with the Space NK team to support their continued growth and success,' continued Steelman. Bill Fisher, CEO and founder of Manzanita Capital, commented 'Space NK has been an important part of Manzanita Capital for the past 23 years. The acquisition of Space NK from Nicky Kinnaird was a key influence in developing Manzanita's unique expertise in selecting and nurturing luxury and niche premium beauty and perfume brands.' 'I have every confidence that Ulta Beauty and this terrific management team will take Space NK to new heights,' continued Fisher. 'We have long respected Ulta Beauty as the leading specialty beauty retailer in the U.S. We are energized and excited by the opportunity to join Ulta Beauty and benefit from its scale, brand relationships and resources to further fuel our mission to serve beauty obsessed consumers through expertise and innovation,' said Andy Lightfoot. The purchase of Space NK was funded with cash on hand and capacity under Ulta Beauty's existing credit facility. The acquisition is not expected to be material to Ulta Beauty's fiscal 2025 financial results and will not impact execution of its capital allocation priorities, including its share repurchase program. Goldman Sachs is serving as exclusive financial advisor to Ulta Beauty, and Latham & Watkins is serving as legal counsel. Raymond James is serving as exclusive financial advisor to Space NK, and Bryan Cave Leighton Paisner LLP is serving as legal counsel to Manzanita Capital and Space NK. About Ulta Beauty At Ulta Beauty (NASDAQ: ULTA), the possibilities are beautiful. Ulta Beauty is the largest specialty U.S. beauty retailer and the premier beauty destination for cosmetics, fragrance, skin care products, hair care products and salon services. In 1990, the company reinvented the beauty retail experience by offering a new way to shop for beauty – bringing together All Things Beauty. All in One Place®. Today, Ulta Beauty operates 1,451 retail stores across 50 states and distributes products through its website, which includes a collection of tips, tutorials, and social content. For more information, visit About Space NK Space NK first opened in 1993 as a lifestyle retailer in Covent Garden, London. Today, Space NK is a unique destination for beauty discovery, operating 83 locations across the UK and Ireland along with its online platform. For more information, visit About Manzanita Capital Manzanita Capital is a specialist investor focused on developing luxury and premium beauty companies into enduring global brands. Unconstrained by strict investment horizons, its long-term perspective is backed by patient family capital. Some current and prior investments include Diptyque, D S & Durga, and Byredo. Forward‑Looking Statements This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, which reflect Ulta Beauty's current views with respect to, among other things, future events and financial performance. These statements can be identified by the use of forward-looking words such as 'will', 'outlook,' 'believes,' 'expects,' 'plans,' 'estimates,' 'targets,' 'strategies' or other comparable words or the negative version of these words. The forward-looking statements in this press release include, among other things, statements regarding the anticipated benefits of the acquisition of Space NK and the future performance of the combined businesses. Any forward-looking statements contained in this press release are based upon Ulta Beauty's historical performance and on current plans, estimates and expectations. The inclusion of this forward-looking information should not be regarded as a representation by Ulta Beauty or any other person that the future plans, estimates, targets, strategies or expectations contemplated by it will be achieved. Such forward-looking statements are subject to various risks and uncertainties, which include, without limitation: the possibility that Ulta Beauty will not realize the anticipated benefits of the acquisition of Space NK for any reason, including due to challenges with integration or achieving anticipated acquisition synergies; macroeconomic conditions, including inflation and elevated interest rates, as well as prior labor, transportation, and shipping cost pressures, have had, and may continue to have, a negative impact on Ulta Beauty's business, financial condition, profitability, and cash flows (including future uncertain impacts, especially when combined with increased tariffs); changes in the overall level of consumer spending and volatility in the economy, including as a result of macroeconomic conditions, tariffs, and geopolitical events; Ulta Beauty's ability to sustain its growth plans and successfully implement its long-range strategic and financial plan; the ability to execute Ulta Beauty's operational excellence priorities, including continuous improvement and supply chain optimization; Ulta Beauty's ability to gauge beauty trends and react to changing consumer preferences in a timely manner; the possibility that Ulta Beauty may be unable to compete effectively in Ulta Beauty's highly competitive markets; the possibility of significant interruptions in the operations of Ulta Beauty's distribution centers, fast fulfillment center, and market fulfillment centers; the possibility that cybersecurity or information security breaches and other disruptions could compromise Ulta Beauty's information or result in the unauthorized disclosure of confidential information; the possibility of material disruptions to Ulta Beauty's information systems, including its website and mobile applications; the failure to maintain satisfactory compliance with applicable privacy and data protection laws and regulations; changes in the good relationships Ulta Beauty has with its brand partners, its ability to continue to obtain sufficient merchandise from its brand partners, and/or its ability to continue to offer permanent or temporary exclusive products of its brand partners; Ulta Beauty's ability to effectively manage its inventory and protect against inventory shrink; changes in the wholesale cost of Ulta Beauty's products and/or interruptions at its brand partners' or third-party vendors' operations; epidemics, pandemics or natural disasters, which could negatively impact sales; the possibility that new store openings and existing locations may be impacted by developer or co-tenant issues; Ulta Beauty's ability to attract and retain key executive personnel; the impact of climate change on Ulta Beauty's business operations and/or supply chain; Ulta Beauty's ability to successfully execute its common stock repurchase program or implement future common stock repurchase programs; a decline in operating results which could lead to asset impairment and store closure charges; and other risk factors detailed in the company's public filings with the Securities and Exchange Commission (the SEC), including risk factors contained in its Annual Report on Form 10‑K for the fiscal year ended February 1, 2025, as such may be amended or supplemented in its subsequently filed Quarterly Reports on Form 10-Q.
Yahoo
26-06-2025
- Business
- Yahoo
Ulta Beauty CFO Paula Oyibo Departs; Chris Lialios Named Interim Successor
Paula Oyibo, Ulta Beauty's chief financial officer, has departed the company, Ulta announced Wednesday. Chris Lialios, the company's senior vice president, controller, has been named interim chief financial officer, effective immediately, while the company begins an external search for a permanent successor. More from WWD Chillhouse Brews Icy Summer Nail Edit in Collaboration With Keurig Coffee Western Brand Tecovas Debuts New Signature Unisex Fragrance With Ranger Station EXCLUSIVE: Glossier CEO Kyle Leahy to Step Down at End of Year Lialios has served as senior vice president, controller since 2018 with responsibility of the company's financial reporting, internal controls and accounting policy. He joined Ulta Beauty in 1999 as assistant controller. 'Chris has been a respected leader on Ulta Beauty's finance team for more than 25 years, and we are thankful to him for stepping into this important interim role as we conduct a search for our next CFO,' said Kecia Steelman, president and chief executive officer. 'We're confident that his deep familiarity with our business coupled with his financial expertise and leadership style will ensure a smooth transition as we continue to execute our Ulta Beauty Unleashed plan.' This is one of a number of changes to Ulta's C-suite this year, beginning with Steelman succeeding Dave Kimbell as CEO. Kelly Mahoney was named chief marketing officer; Lauren Brindley joined as chief merchandising and digital officer; Amiee Bayer-Thomas became chief retail officer, and Mike Maresca was tapped as chief technology and transformation officer. On her departure, Oyibo said: 'I am extremely proud of our team's accomplishments and believe Ulta Beauty is well-positioned to execute the Ulta Beauty Unleashed plan.' At the same time, Ulta reaffirmed the guidance for fiscal 2025, including the company's expectation that comparable store sales growth will be between 0 and 1.5 percent, and diluted earnings per share will be between $22.65 and $23.20. On the search for Oyibo's successor, Ashley Helgnas, an analyst at Jefferies, said: 'We like and believe the market will likely favor an external hire. This news follows numerous other management changes in the past year. The company also reiterated its fiscal-year 2025 guide, despite category trends improving versus Q1.' Best of WWD Which Celebrity Brands Are Next for a Major Deal? Lady Gaga, Beyonce and More Possible Contenders for the Next Corporate Prize The Best Makeup Looks in Golden Globes History A Look Back at Golden Globes Best Makeup on the Red Carpet, From Megan Fox to Sophia Loren [PHOTOS] Sign in to access your portfolio
