Ulta CEO On Target Corp Partnership: ‘Now Is The Time For Innovation In Retail'
Target guests in selected locations will be able to shop a curated Ulta Beauty section in the second half of 2021. The partnership could attract new clientele to Target stores and give Ulta a boost following nationwide store closures this year due to COVID.
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Sales declines slowed significantly in Ulta’s fiscal 2020 third quarter as consumers returned to physical stores and e-commerce gains continued, albeit at a moderated clip. But surging infections around the US and tightening government restrictions have the retailer cautious about fourth-quarter projections.
The retailer is growing its skin- and hair-care assortments to meet strong demand and highlighting “clean” with the coming launch of its Conscious Beauty certification program. Sales will remain challenged for the remainder of fiscal 2020, but longer-term prospects are optimistic, Ulta leadership said during the firm’s second-quarter earnings call.
The Scientific Committee on Consumer Safety will consider available safety data for prostaglandin analogs isopropyl cloprostenate, ethyl tafluprostamide and others with known use in eyelash-growth cosmetic products in the EU. Currently, the substances are not restricted in cosmetic products.