Ulta to open 100 stores during aggressive expansion strategy

Popular cosmetics retailer Ulta Beauty plans to open approximately 100 new stores and remodel 17 current locations in fiscal 2018.

The retailer announced its plan to add stores during its quarterly and annual results. Ulta ended fiscal 2017 with 1,074 stores. Ulta’s net income increased 48.5 percent to $208.2 million, compared to $140.2 million in the same period last year, according to the earnings call.

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E-commerce sales increased 60.4 percent to $248.3 million, including the benefit of the 53rd week, compared to $154.9 million last year. Ulta has a location at The Greene Town Center in Beavercreek, the Dayton Mall and the Mall at Fairfield Commons.

Locations of new stores have not been identified yet.

“Looking ahead to 2018, we are deploying a portion of the tax reform benefits to invest in our people and accelerate investments to drive growth and innovation,” said Mary Dillon, CEO, Ulta Beauty.

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