Ulta Beauty appoints new CEO and improves holiday quarter forecast.
- Kecia Steelman, the company's chief operating officer, will succeed Ulta Beauty CEO Dave Kimbell upon his retirement.
- Ulta also hiked its fourth-quarter guidance.
- The beauty retailer announced that the leadership changes will take effect on Monday.
The company announced Monday that CEO Dave Kimbell is retiring and will be succeeded by the retailer's Chief Operating Officer Kecia Steelman.
On Monday, Ulta announced that leadership changes will take place, with Steelman replacing Kimbell on the company's board of directors.
Through June 28, Ulta has appointed Kimbell as an advisor.
Ulta announced an executive shakeup and raised its fiscal fourth-quarter outlook due to "stronger-than-expected performance during the holiday season." The company now anticipates modest growth in comparable sales and an operating margin above the high end of its previous expected range of 11.6% to 12.4% of sales. In early December, Ulta predicted comparable sales would range between a decline of 1% and flat.
Shares of the company rose more than 2% in extended trading.
This is breaking news. Please check back for updates.
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