(RTTNews) - Specialty beauty retailer Ulta Beauty, (ULTA) Monday announced that CEO Dave Kimbell will retire after 11 years with the company and will also step down from the Board of Directors.
Kecia Steelman, currently President and Chief Operating Officer (COO), will succeed Kimbell as CEO and join the Board effective January 6, 2025. Steelman has been President and Chief Operating Officer since 2023.
Kimbell will remain an advisor to Ulta Beauty until June 28, 2025. Further, the company increased its fourth-quarter outlook reflecting stronger-than-expected performance during the holiday season.
Based on sales performance quarter-to-date, the company now expects comparable sales will increase modestly and operating margin will be above the high-end of the company's previous expected range of 11.6% to 12.4% of sales for the fourth quarter of fiscal 2024.
ULTA closed Monday's trading at $431.30, down 0.01 percent or $0.05, on the Nasdaq.
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