Ulta Beauty targets Canada
With success above expectations in 2019, the cosmetics retailer (1,254 stores in the U.S.A.) confirms international ambitions. By 2021, the firm aims to expand into Canada. The country will be “the first step in making Ulta a global beauty brand,” said Mary Dillon, Chief Executive Officer. One month after Sephora announced an opening of 100 new stores in the U.S., Ulta plans to open an additional 75 stores in 2020. For the fiscal year ending in February 2020, net sales increased by 10% to US$7.4 billion. Net profit increased by 7.2% to US$705.9 million. Ulta aims to increase sales by up to 8% for 2020.