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Ulta Widens Expansion Plans, Announces Plan To Open 1,400‒1,700 Stores In US

October 13, 2016: 12:00 AM EST
Beauty retailer Ulta Salon Cosmetics & Fragrance Inc. announced plans to expand its store network by opening 1,400‒1,700 locations from its current 900. Significantly higher than the company's previously announced plan to have 1,200 stores in the US by 2019, the planned expansion is in line with Ulta CEO Mary Dillon's aim of doubling market share in the next several years. Also, the company aims to increase online sales to $1 billion, with Ulta raising its revenue forecasts for the year.
Khadeeja Safdar , "Ulta Bucks Retail Trend, Plans New Stores, Lifts Outlook", Wall Street Journal , October 13, 2016, © Dow Jones & Company, Inc.
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