00:00It's Benzinga bringing Wall Street to Main Street.
00:02Ulta Beauty announced that CEO Dave Kimball will retire with COO Kasey Esteelman stepping
00:07in as CEO and joining the board effective immediately. The company also raised its
00:12fiscal fourth quarter outlook due to stronger than expected holiday performance now projecting
00:16modest comparable sales growth and an operating margin above the prior range.
00:21Ulta Beauty is navigating increased competition from retailers like Macy's and Kohl's amid
00:26tightened customer spending with Kimball warning of a slowdown in the beauty category.
00:31The company has responded by introducing new brands, hosting in-store events,
00:35and enhancing digital tools to retain its leading position.
00:39Shares were over two percent in extended trading.
