After running Ulta Beauty(ULTA) for eight years as CEO, Mary Dillon will now take the role of executive chair of the Ulta’s board of directors this coming June. David limbell, the current President of Ulta Beaty will take over as CEO. Kecia Steelman, Ulta’s chief store operations officer, will be promoted to chief operating officer.
Due to the pandemic, Ulta Beauty(ULTA) sales decreased 17.9% in 2020 but had a 5% increase in sales in 2019.
Shoppers were unable to visit stores due to closures, but sales are expected to rise the coming year now that businesses are starting to re-open from previous lockdowns throughout the U.S. Ulta plans to open 40 new stores and remodel about 21 stores this year.
Ulta Beauty(ULTA) will open small cosmetic stores in hundreds of Target locations to increase sales.
Ulta appears to be correcting within a longer-term bullish trend. Although its MACD is presently below the signal line, shares remain 28.2% above an upwards sloping 200-day moving average. Comparative Relative Strength analysis shows that this issue is outperforming the S&P 500. Source Charles Schwab
as of 02/26/2021
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Source Charles Schwab Research
Analyst Actions: BMO Capital Adjusts Ulta Beauty’s Price Target to $310 From $265, Maintains Market Perform Rating Source: MT Newswires
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