Ulta Beauty plans to open 200 stores over 3 years as part of growth strategy

Published On Oct 16, 2024, 11:45 AM

Ulta Beauty has announced plans to open 200 new stores over the next three years as part of its strategic growth initiative. This expansion aims to increase its retail footprint to over 1,800 stores long-term, building on its current more than 1,400 locations. During its investor day, the company reaffirmed its guidance for fiscal year 2024, expecting to add 60-65 new stores while also aiming for net sales between $11 billion and $11.2 billion. Ulta continues to enhance its offerings and in-store experiences, with the goal of achieving 4-6% net sales growth and low double-digit earnings-per-share growth by 2026. Despite facing short-term transitional challenges, the company remains optimistic about long-term profitable growth and increasing shareholder value.