Ulta Beauty announced that CEO Dave Kimbell will retire, with COO Kecia Steelman stepping in as CEO and joining the board effective immediately. The company also raised its fiscal fourth-quarter outlook due to stronger-than-expected holiday performance, now projecting modest comparable sales growth and an operating margin above the prior range. Ulta Beauty is navigating increased competition from retailers like Macy's and Kohl's amid tightened customer spending, with Kimbell warning of a slowdown in the beauty category. The company has responded by introducing new brands, hosting in-store events, and enhancing digital tools to retain its leading position. Shares rose over 2% in extended trading.
