BOLINGBROOK, Ill. — Ulta Beauty and Target will wind down their in-store “Ulta Beauty at Target” partnership when the current contract expires in August 2026, the companies said Thursday.
Launched in August 2021, following an announcement in late 2020, the collaboration brought prestige beauty brands to select Target stores and Target.com, aiming to attract new customers and expand product access. Neither company disclosed reasons for ending the agreement.
Shares of Target fell 2% and Ulta’s slipped about 1% following the news. The move comes as Target faces softer demand, with shoppers cutting back on discretionary spending amid inflation and uncertainty tied to President Donald Trump’s trade policies.
Beauty sales have remained a bright spot for the retailer, rising 5% in 2024, despite overall merchandise sales dipping 0.9% for the year. Both companies stated that the Ulta Beauty at Target experience will remain in place until the conclusion of the partnership.
