"Facing dipping sales to start the year, newly appointed Ulta Beauty President and CEO Kecia Steelman introduced the retailer's Ulta Beauty Unleashed turnaround plan in March to combat "intense" competition. The plan included a slew of efforts-like renewed focus on brand building and digital acceleration, international expansion, and organizational changes. Weeks later, Steelman said Ulta was pausing its shop-in-shop partnership with Target, which started in 2021."
"By Q3, Ulta's results "exceeded our expectations," Steelman said on its earnings call earlier this month, noting the retailer was delivering on her turnaround strategy. The retailer reported net sales up 12.9% and comp sales up 6.3%, as beauty engagement "remained healthy" across mass and prestige, Steelman said. Ulta wasn't alone in its turnaround, as Estée Lauder, Bath & Body Works, and Olaplex were among other beauty players unveiling multipronged plans to jumpstart sales."
2025 saw major shifts in beauty retail with retailer turnarounds, partnership reversals, and online channel growth. Ulta Beauty launched the Ulta Beauty Unleashed turnaround plan under CEO Kecia Steelman, paused its shop-in-shop partnership with Target, and later announced the partnership will end in August 2026. Ulta reported net sales up 12.9% and comp sales up 6.3% by Q3, with engagement remaining healthy across mass and prestige. Estée Lauder, Bath & Body Works, Olaplex, and others unveiled multipronged plans to jumpstart sales. Several companies implemented tariff-driven price increases and signaled expanded digital and international moves.
#ulta-beauty #retail-turnarounds #ecommerce-growth #shop-in-shop-partnerships #tariff-driven-pricing
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