Ulta Revamps Strategic Priorities, Lowers Long-Term Outlook

Accelerating new store openings and adding 6 million more loyalty members are among Ulta’s newly unveiled strategic priorities. At the firm’s 16 October Investor Day, the retailer reported it is lowering its long-term outlook to account for “normalization” of the US beauty market post-COVID and increasing prestige competition.

Ulta Beauty, Inc.’s updated strategic priorities include accelerating new store openings and expanding its loyalty program, as it lowers its long-term outlook and characterizes fiscal 2024 and 2025 as “transitional” years.

More from Strategy

Cosmetic Industry Deals: ELC/Biotech Partnership Will Further Lauder’s Skin Longevity Push; L’Oréal Cuts Ribbon On $160M US Innovation Center

 

Estee Lauder Companies collaborates with Serpin Pharma to explore anti-inflammatory innovation and skin longevity, while L’Oréal Group celebrates the grand opening of North America Research & Innovation Center with ribbon cutting event.

Unilever CEO’s Sudden Departure Has Investment Community Speculating

 

British consumer goods firm Unilever PLC announces it will replace CEO Hein Schumacher with CFO and Executive Director Fernando Fernandez 1 March.

Coty Establishes ‘Competitive Moat’ For Prestige Fragrance Against Upstarts, ‘Dupes’ – CEO

 

Coty Inc.’s ‘competitive moat’ against upstarts and ‘dupe” competition is a five-step strategy that includes investing in master perfumers over external suppliers and the use of ‘rare, exclusive’ ingredients in scents.

L’Oréal Heir Steps Down As Director After 28 Years; Plans to Hand Reins To Next Generation

 

L’Oréal Groupe announces company heir and 28-year Director Francoise Bettencourt Meyers plans to step down when her term expires at the end of the Annual General Meeting in April.

More from Retail

Private Label Beauty Rising; Value, Innovation Driving Consumer Demand

 

Claire’s Holdings LLC, Sprout’s Farmers Markets and Walgreen Company are the latest US retailers to build on beauty and personal care store brands in response to growing consumer demand.

In Emergency Rule, California Bans All THCs In Hemp Products: Industry Asks, Where’s The Fire?

 

California authorities say predominance of retailers licensed to sell hemp are compliant with ban published effective on 3 October through emergency regulation. But hemp industry’s contesting the regulation in state court, arguing state authorities inappropriately used emergency action to change state law on hemp products legislature passed in 2021.

Ulta Revamps Strategic Priorities, Lowers Long-Term Outlook

 

Accelerating new store openings and adding 6 million more loyalty members are among Ulta’s newly unveiled strategic priorities. At the firm’s 16 October Investor Day, the retailer reported it is lowering its long-term outlook to account for “normalization” of the US beauty market post-COVID and increasing prestige competition.