On March 8, 2022, people walked through an Ulta Beauty store in Manhattan, New York City.
Carlo Allegri | Reuters
ultimate beauty The company announced Monday that CEO Dave Kimbell is retiring and will be replaced by Kecia Steelman, the retailer’s chief operating officer.
Urta said in a news release that the leadership changes will be effective Monday. Steelman will also succeed Kimbell on the company’s board of directors.
Ulta said in a news release that Kimbell will serve as an advisor to the company until June 28.
In announcing the executive reshuffle, Ulta also raised its fourth-quarter earnings outlook due to “stronger-than-expected holiday quarter results.” The company said it now expects comparable sales to increase slightly and operating margins to be above the upper end of the company’s previous guidance of 11.6% to 12.4% of sales. In early December, Ulta said it expected comparable sales to decline 1% to be flat.
The company’s shares rose more than 2% in after-hours trading.
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