Ulta Beauty Announces Strategic Growth Plans and $3 Billion Share Repurchase

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The company increased its long-term store target to 1,800+ stores, approved a new $3 billion share repurchase authorization, and reaffirmed its fiscal 2024 guidance. Ulta Beauty plans to drive profitable growth through focus areas like assortment, experience, access, and loyalty, aiming for 4% to 6% net sales growth, mid-single-digit operating profit growth, and low double-digit diluted EPS growth over the long term.

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About Ulta Beauty Inc.

Ulta Beauty Inc. is a premier beauty retailer in the United States, renowned for offering a comprehensive selection of beauty products and salon services. As the largest beauty retailer in the country, Ulta Beauty presents a diverse product range that includes cosmetics, fragrances, skin care, and hair care products, catering to a wide demographic of customers. The company ingeniously combines retail beauty with online and in-store experiences, featuring both mass-market goods and prestige brands. This dual approach allows Ulta to serve as a one-stop shop for beauty enthusiasts, providing a distinctive edge in the competitive retail market. In addition to its extensive product offerings, Ulta Beauty operates salon services in many of its stores, delivering personalized beauty experiences that enhance its market appeal. Founded in 1990 and headquartered in Bolingbrook, Illinois, Ulta Beauty has significantly influenced the beauty retail industry, guiding trends and consumer preferences while expanding its national footprint with over 1,200 stores across the country.