Ulta Plans To Expand Store Network To Double Market Share

Beauty retailer Ulta aims to expand its market share in the next several years by opening new stores, growing its online business, and improving store productivity. Company CEO Mary Dillon said she expects Ulta to double its share of the $127 billion beauty market in the US from the current 4 percent. At the company's latest analyst and investor day, Ulta adjusted comparable-store sales growth forecast for 2017 to 2019 from 5‒7 percent to 7‒9 percent. Also, the company raised its same-store sales growth outlook from 11‒13 percent to 14‒15 percent.