Ulta Beauty Plans Faster Expansion In 2016; Prepares To Compete With Segment Rivals

After opening 77 new stores, and increasing its total retail space by 9.5 percent to reach 874 stores in 2015, personal care and cosmetics retailer Ulta Beauty plans to expand even faster in 2016. Since opening its first store 25 years ago, the company has seen fast-growing revenue, with sales rising 21 percent to $3.9 billion in 2015, compared with sales in 2014. During that period, the company reported comparable sales grew 11.8 percent. Ulta Beauty’s rapid growth and expansion poses a serious competitive threat to rivals, such as Macy’s, which has a large beauty department, and beauty retailer Sephora.