Ulta Beauty to Exit Target Stores

Ulta Beauty (Bolingbrook, Ill.) is pulling its shop-in-shops from Target Corp. (Minneapolis) stores when the current agreement between the retailers concludes in August 2026, they announced jointly. Ulta said the move to end the four-year program reflects its decision to concentrate on sales through its own 1500 stores and website.

While the companies’ news release didn’t specify how many Ulta units had been installed in Target stores, CNBC confirmed that that number stood at 600-plus, or nearly a third of its 1981 U.S. locales

“Our partnership with Target was one of many unique ways we have brought the power of beauty to guests nationwide,” said Ulta Chief Retail Officer Amiee Bayer-Thomas. “As we continue to execute our Ulta Beauty Unleashed plans, we’re confident our wide-ranging assortment, expert services and inspiring in-store experiences will reinforce our leadership in beauty and define the next chapter of our brand.”

Said Rick Gomez, Target EVP and Chief Commercial Officer: “We’re proud of our shared success with Ulta Beauty and the experience we’ve delivered together. The magic of shopping for beauty at Target is the combination of on-trend products that delight consumers with an inspiring and convenient shopping experience. We look forward to what’s ahead and remain committed to offering the beauty experience consumers have come to expect from Target – one centered on an exciting mix of beauty brands with continuous newness, all at an unbeatable value.”

In its coverage of the news, CNBC reported that the loss of the popular beauty retailer’s products could be another blow to Target as it tries to woo back both shoppers and investors. “Target’s annual sales have been roughly flat for four years and it expects sales to decline this fiscal year,” the news service noted. “Shares of the company are worth less than half of what they were back in 2021, when they hit an all-time closing high of $266.39.”