Ulta Beauty reorganizes corporate structure to start fiscal 2017

By

Obi Anyanwu

Published
Jan 27, 2017

Ulta Beauty announced on Friday that it will implement a holding company reorganization on January 29, 2017, the beginning of its new fiscal year.

 
The Illinois-based beauty retailer is making changes to create a more efficient corporate structure. Ulta affirmed in a press release that business operations will not change as a result of the reorganization. In addition, the retailer underwent a name change from Ulta Salon, Cosmetics & Fragrance, Inc. to Ulta Beauty, Inc.
 
In October, Ulta announced plans double its retail stores to 1,700 locations, which caught the attention of investors. Shares jumped 11% after the news released. The retailer updated its full year outlook in December after it beat expectations in the third quarter.

Also in December, Ulta began construction on its first Manhattan retail location, which will be located on 86th Street in the Upper East Side.