Ulta Beauty names new CEO Kecia Steelman to replace Dave Kimbell

Ulta said in a news release that the leadership changes take effect on Monday. Steelman will also replace Kimbell on the company’s board of directors.

In a news release, Ulta said Kimbell will serve as an advisor to the company through June 28.

Along with announcing the executive shakeup, Ulta raised its fiscal fourth-quarter outlook because of “stronger-than-expected performance during the holiday season.” The company said it now anticipates 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. In early December, Ulta said it expected comparable sales would range between a decline of 1% and flat.

Shares of the company rose more than 2% in extended trading.

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