On March 8, 2022, people walked through an Ulta Beauty store in Manhattan, New York City.
Carlo Allegri | Reuters
ultimate beauty The company announced Monday that Chief Executive Dave Kimbell is retiring and will be replaced by Kecia Steelman, chief operating officer of the retailer.
The leadership changes will be effective Monday, Urta said in a news release. Steelman will also succeed Kimbell on the company’s board of directors.
Ulta said in a news release that Kimbell will serve as an advisor to the company until June 28.
While announcing the executive reshuffle, Ulta also raised its fourth-quarter earnings outlook due to “stronger-than-expected results during the holiday quarter.” The company said it now expects comparable sales to grow slightly and operating margins to be above the upper end of the company’s previous guidance of 11.6% to 12.4% of sales. In early December, Ulta said it expected comparable sales to decline 1% to be flat.
The company’s shares rose more than 2% in after-hours trading.
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