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Ulta Beauty Announces New CEO and Boosts Its Outlook
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Main points
- Ulta Beauty said CEO Dave Kimbell will retire on Monday after 11 years with the company.
- Kimbell will be succeeded by Chief Operating Officer Kecia Steelman.
- The cosmetics retailer also said it expected fourth-quarter operating margins to be above the high end of its previously estimated range.
ultimate beauty (ULTAThe cosmetics retailer said after the close that Chief Executive Dave Kimbell will retire on Monday after 11 years with the company.
Kimbell will be Chief Operating Officer (COO) Kecia Steelman will continue as a consultant to the company until June 28.
Steelman chairman Lorna Nagler “played an important role in developing our recently updated strategic framework,” Steelman chairman Lorna Nagler said in a press release. Ulta unveiled a strategic roadmap in October that included opening 200 net new stores and growing its loyalty program members to 50 million by 2028.
Ulta raises fourth-quarter outlook
Ulta also said it now expects comparable sales to increase “modestly” in its fiscal fourth quarter. operating profit margin That was above the upper end of the previous estimate’s range of 11.6% to 12.4%. The company will report fourth-quarter results on March 13.
Ulta shares rose about 2% in after-hours trading on Monday after the news was announced.
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