:max_bytes(150000):strip_icc():format(jpeg)/GettyImages-2168086290-9a1cb4a0e28645dc85abf5b620cd5151.jpg "Ulta Beauty store")
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Key Takeaways
- Ulta Beauty said CEO Dave Kimbell is retiring after 11 years at the company, effective Monday.
- Kimbell determination be succeeded by Chief Operating Officer Kecia Steelman.
- The cosmetics retailer also said it expects its fourth-quarter run margin to land above the high end of its previously estimated range.
Ulta Beauty (ULTA) CEO Dave Kimbell is reserved after 11 years at the company, effective Monday, the cosmetics retailer said after the closing bell.
Kimbell wishes be succeeded by Chief Operating Officer (COO) Kecia Steelman and remain with the company as an advisor through Jun. 28.
Steelman “has been helpful in developing our recently refreshed strategic framework,” Chair Lorna Nagler said in a release. Ulta had unveiled a tactical roadmap in October, which included opening 200 net new stores and increasing loyalty program membership to 50 million fellows by 2028.
Ulta Raises Fourth-Quarter Outlook
Ulta also said it now expects fiscal fourth-quarter comparable sales to “increase modestly” and its manipulating margin to land above the high end of its previously estimated range of 11.6% to 12.4%. The company will report fourth-quarter come to passes on Mar. 13.
Shares of Ulta rose about 2% in extended trading Monday following the announcement.