Ulta Beauty announced that CEO Dave Kimbell will retire, with COO Kecia Steelman stepping in as CEO and joining the board effective immediately. The company also raised its fiscal fourth-quarter outlook due to stronger-than-expected holiday performance, now projecting modest comparable sales growth and an operating margin above the prior range. Ulta Beauty is navigating increased competition from retailers like Macy's and Kohl's amid tightened customer spending, with Kimbell warning of a slowdown in the beauty category. The company has responded by introducing new brands, hosting in-store events, and enhancing digital tools to retain its leading position. Shares rose over 2% in extended trading.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Ulta Beauty announced that CEO Dave Kimball will retire with COO Kasey Esteelman stepping
00:07in as CEO and joining the board effective immediately. The company also raised its
00:12fiscal fourth quarter outlook due to stronger than expected holiday performance now projecting
00:16modest comparable sales growth and an operating margin above the prior range.
00:21Ulta Beauty is navigating increased competition from retailers like Macy's and Kohl's amid
00:26tightened customer spending with Kimball warning of a slowdown in the beauty category.
00:31The company has responded by introducing new brands, hosting in-store events,
00:35and enhancing digital tools to retain its leading position.
00:39Shares were over two percent in extended trading.