Ulta Leans Into Exclusivity Amid Target Beauty Studio Competition
Ulta Beauty reported Q2 net sales up nearly 9% to $3 billion, with comps rising 3.8%, and raised full-year guidance for net sales growth to 6.7%–7.2%. Heavily branding itself instead of chasing rivals, it said increased competition tied to Target’s Beauty Studio concept would not change its approach, while makeup sales were nearly flat as prestige gains offset weaker mass demand.