Ulta Beauty announced the retirement of CEO Dave Kimbell, effective Monday, with Chief Operating Officer Kecia Steelman taking over the role. Steelman will also join the company’s board of directors, with Kimbell remaining as an advisor until June 28. In conjunction with the leadership transition, Ulta raised its fiscal fourth-quarter outlook, citing stronger-than-expected performance during the holiday season. The retailer now projects modest increases in comparable sales and anticipates operating margins to exceed prior expectations, indicating a figure above 11.6% to 12.4% of sales. Previously, Ulta had forecasted comparable sales to decline by 1% or remain flat. Following the announcement, the company’s shares rose over 2% in extended trading.
