Ulta Beauty and Target said Thursday that they have decided to end a deal that opened makeup and beauty shops in hundreds of Target's stores.
In a news release, the companies said the partnership — which also added some of Ulta's merchandise to Target's website — will end in August 2026. Target had added more than 600 Ulta Beauty shops to its stores since 2021, according to a company spokesperson. That's nearly a third of Target's 1,981 U.S. stores.
The only exceptions to that trend were the two weeks on either side of Easter, when traffic rose less than 1% year over year, the firm's data showed.
On earnings calls and in investor presentations, leaders of the Minneapolis-based company had touted Ulta's shops and its trendy beauty brands as a way to drive store traffic.
Target's CEO Brian Cornell, 66, is expected to depart the company soon. The longtime Target leader renewed his contract for approximately three years in September 2022 after the board scrapped its retirement age of 65.
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