Ulta Beauty Provides COVID-19-Store Related Business Update

Ulta Beauty, Inc. (NASDAQ: ULTA) today shared further updates to its operations as it continues to navigate the impact of COVID-19.

“In navigating the fluid dynamics of COVID-19, we are keeping the safety of our guests and associates at the heart of every decision we make,” said Mary Dillon, chief executive officer. “In parallel, we are making decisions to ensure continued strength as an industry leader with an eye towards long-term growth.”

As of today, Ulta Beauty has completed its phased reopening process. To meet individual comfort levels, guests can shop via Curbside Pickup, Buy Online Pickup in Store, on ulta.com, via the Ulta Beauty app and in Ulta Beauty stores. In addition to our Shop Safe Standards, starting today Ulta Beauty will require all guests and associates to wear facial coverings when in stores. As different parts of the country manage rising COVID-19 cases, the Company will maintain its close monitoring of government and health guidance as well as local case prevalence to inform nimble actions where necessary.

Mirroring its thoughtful reopening approach, the Company began welcoming back furloughed employees consistent with individual store operational needs. To date, approximately 50% of those furloughed in April have been reactivated.

“Our differentiated operating model, strong brand, dedicated associates, and engaging guest experiences continue to reinforce our optimism in long-term opportunities to increase market share and expand our retail footprint over time,” continued Dillon. “We anticipate COVID-19 will influence longer-term market shifts and create new real estate opportunities, supporting our ambition to ultimately operate between 1,500 to 1,700 Ulta Beauty stores in the U.S. To do so, we are proactively optimizing our real estate portfolio and have made strategic decisions to temporarily reduce new store openings and close a limited number of stores this year. Overall, our real estate portfolio generates healthy returns, and this limited and targeted approach to closing stores will position Ulta Beauty for even stronger financial performance in the future.”

Given the uncertainty and disruption created by COVID-19, the Company continues to refine its near-term new store opening plans and expects to open approximately 30 new stores in fiscal 2020. New store activity was temporarily paused in the first quarter due to COVID-19; openings are expected to resume in August 2020. As new store opening plans are finalized for fiscal 2021, the Company anticipates opening additional new stores in the U.S. and in mid-2021, will make its entry to Canada with a number of stores. In addition, after evaluating its existing store portfolio, the Company plans to permanently close 19 stores in the second and third quarter of 2020. The Company intends to reassign affected store and salon associates where possible.
http://ir.ultabeauty.com/news-releases/news-release-details/2020/Ulta-Beauty-Provides-COVID-19-Store-Related-Business-Update/default.aspx

Related Posts

Long-Time Midland Paper CEO Announces Retirement

Midland Paper, Packaging & Supplies, a $1 Billion wholesale distribution company based in Chicago, IL, announced this week that Stan Hooker, the company’s long-time Chairman & CEO, has retired and sold his majority interest to his three partners, Ralph DeLetto, Mike Graves, and Jim O’Toole. This transition allows the company to continue its long tradition of being the leading independent paper and packaging distribution company in North America. Mr. Hooker said: “The timing of this transition is good for me personally, as my wife and I can devote more time to being with our friends and family, and the timing is good for Midland given the company’s strong financial position and its proven senior leadership team at the helm”. Mike Graves, the company's President and COO, will assume the role of CEO. Mr. Graves noted: “we are grateful to Stan for his longstanding leadership at Midland, and we look forward to continuing Midland’s legacy as an entrepreneurial, independent organization that strives to be the first choice for suppliers and customers alike”.

JCPenney Provides Update on Store Optimization Strategy

J. C. Penney Company, Inc. announced that it has taken the first step in implementing its store optimization strategy. Following a comprehensive evaluation of its retail footprint and a careful analysis of store performance and future strategic fit for the Company, JCPenney identified the first phase of 154 store closures. Following entry of an order at the June 11, 2020, hearing with the U.S. Bankruptcy Court for the Southern District of Texas, in Corpus Christi, Texas, store closing sales will begin at 154 locations. The Company expects additional phases of store closing sales will begin in the coming weeks. As the Company remains focused on its Plan for Renewal and driving sustainable, profitable growth, it intends to reduce its store footprint and focus resources on its strongest stores and powerful eCommerce flagship store, jcp.com. Store closing sales for the first round of store closures are expected to take 10-16 weeks to complete. The list of 154 stores that will begin closing sales can be found on the JCPenney Blog.

Sears brings back Wish Book holiday catalog

Sears is bringing back its Wish Book holiday catalog after a six-year hiatus. "Our members told us they missed the Wish Book, so we had to bring it back, but in a special way that lets you share more joy wherever you are,” Kelly Cook, chief marketing officer for Hoffman Estates-based Sears and Kmart, said in a news release Wednesday. It came out almost every year — with a gap in 1993 and 1994 — until 2011, when Sears decided to focus on other holiday initiatives, Cook said. Wish Books varied in size, but they often topped 600 pages, she said. Click Read More below for additional information.
Back To Top
×Close search
Search