Press release
Ulta Beauty Announces Long-Term Financial Targets and Strategic Priorities to Drive Profitable Growth
Increases Long-Term Store Target and Plans to Open 200 Net New Stores Over the Next Three Years Announces New $3 Billion Share Repurchase Authorization
About this update from Ulta Beauty, Inc.
[{"type":"text","content":"\nIncreases Long-Term Store Target and Plans to Open 200 Net New Stores Over the Next Three Years\n\nAnnounces New $3 Billion Share Repurchase Authorization\n\nReaffirms Fiscal 2024 Guidance\n\n BOLINGBROOK, Ill.--(BUSINESS WIRE)--\nUlta Beauty, Inc. (NASDAQ: ULTA) will host its 2024 Investor Day today, where the management team will outline Ulta Beauty’s strategic priorities to drive profitable growth and announce new long-term financial targets.\n\n“Ulta Beauty is a leader in a growing category with a proven model and substantial financial strength to invest and power our long-term growth,” said Dave Kimbell, chief executive officer. “More than 30 years ago, Ulta Beauty was the original disruptor in beauty bringing All Things Beauty. All In One Place®. While beauty has continued to expand and evolve, we remain true to our core purpose - we champion beauty for everyone, helping every guest discover their own possibilities through the power of beauty. The strategic priorities announced today are designed to amplify our differentiated model and drive relevant innovation to meet evolving guest needs, positioning Ulta Beauty as the destination for beauty enthusiasts for a lifetime. This plan will enable us to drive strong growth and capture greater market share in beauty and wellness. We have consistently delivered exceptional results over time, and we are well positioned to build on this record of profitable growth and shareholder value creation. We remain confident in and excited about the future of Ulta Beauty.”\n\nStrategic Framework\n\nUlta Beauty intends to drive profitable growth and market share leadership in beauty and wellness through four foundational focus areas:\n\n\nAssortment: Curating the best of all things beauty and wellness for all beauty enthusiasts;\n\n\nExperience: Fostering authentic, empowering human connections that inspire, delight and engage guests at every touchpoint;\n\n\nAccess: Engaging our guests wherever they want to shop by expanding our reach through seamless and immersive omnichannel experiences; and\n\n\nLoyalty: Building lifelong loyalty and brand love through member growth and personalization.\n\n\nActioning against these focus areas, Ulta Beauty plans to:\n\n\nAccelerate new store openings, targeting 1,800+ stores over the long-term;\n\n\nDrive loyalty program growth to 50 million members by ...