Ulta Beauty is positioning itself for significant growth, unveiling new priorities aimed at driving profitable expansion and achieving long-term financial goals. One of the key strategies outlined is Ulta Beauty to Open 200 New Stores Over the Next Three Years.
Following its 2024 Investor Day, Ulta Beauty shared its vision for the future, highlighting its strong foundation in the beauty industry. The company emphasized its commitment to continuing to innovate and expand, focusing on areas that will help capture greater market share in the beauty and wellness space. Ulta Beauty to Open 200 New Stores Over the Next Three Years as part of a broader plan to increase its presence and serve more beauty enthusiasts.
“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, CEO of Ulta Beauty. He added, “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 retailer’s strategic priorities focus on four key pillars to drive growth and market leadership:
- Assortment: Offering the best of beauty and wellness for all customers.
- Experience: Creating authentic, empowering connections that engage and inspire guests at every touchpoint.
- Access: Expanding reach through seamless omnichannel experiences, allowing guests to shop how they prefer.
- Loyalty: Strengthening brand loyalty and personalizing experiences to build lifelong connections.
Ulta Beauty to Open 200 New Stores Over the Next Three Years is part of the company’s broader goals, which include expanding its store footprint to more than 1,800 locations. Ulta also plans to grow its loyalty program to 50 million members by 2028, further establish its leadership in wellness, and offer a wider array of exclusive, emerging, and established brands.
“Ulta Beauty is a market leader in a robust, healthy consumer category, and we have delivered strong and consistent profitable growth and shareholder value over time,” said Paula Oyibo, CFO of Ulta Beauty. She acknowledged that while 2024 and 2025 will be transitional years due to short-term market dynamics, the long-term outlook remains positive, with continued opportunities for growth.
Looking ahead, Ulta Beauty has set ambitious financial targets, including net sales growth of 4% to 6%, operating margins around 12%, and low double-digit diluted EPS growth, reinforcing its confidence in sustaining profitable growth.
