Ulta Beauty Slows Expansion Pace; Focuses On Long-Term Strategies

Cosmetics company Ulta Beauty plans to open 100 stores in the United States in 2014 as part of its goal of having 1,200 stores across the country, according to company CEO Mary Dillon. Speaking at the meeting of the company’s shareholders, Dillon said the company expects same-store sales to grow 4–6 percent, lower than the previous year’s 7.9 percent. Ulta, which reported revenue grew 20 percent to $2.7 billion in 2013, said it plans to slow down its expansion as the company focuses more on long-term strategies, which include building its supply chain and improving its customer loyalty program. Since 2009, Ulta has acquired 90 brands, some of which are exclusive to the company, as well as added 83 high-end boutiques to its stores.