Ulta Beauty Will Have New CEO, Target Store Presence In Climb Back To 2019 Top Line
The specialty retailer, entering Target stores in the fall, is aiming for net sales of $7.2bn to $7.3bn in fiscal 2021, compared with $6.15bn in 2020 and $7.4bn in 2019. President Dave Kimbell will be taking the helm in June while CEO Mary Dillon stays on for one year as executive chair of the board.
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Growth over the last two years reflects new market dynamics and a growing connection between beauty and wellness, in addition to a return to sales following pandemic-related shutdowns, Ulta Beauty leaders said in a fourth-quarter sales and earnings presentation.
Kohl’s reports its Sephora at Kohl’s beauty store-within-store has brought 1 million new customers – largely young and diverse – since it launched last August, with $2bn in sales targeted by 2025.
CVS is trialing Skin Care Centers in three strategic locations, building on its BeautyIRL concept launched in 2018. Featuring prestige brands and L’Oréal-trained beauty advisors, CVS Skin Care Centers follows Walmart’s launch of BEAUTYSPACE installations in March and moves from Kohl’s and Target mid-pandemic to wow shoppers with curated prestige beauty assortments.