Ulta Beauty names new CEO, hikes outlook for holiday quarter

Leadership Changes - Ulta Beauty CEO Dave Kimbell is retiring and will be succeeded by Chief Operating Officer Kecia Steelman, effective immediately [1] - Kimbell will continue to serve as an advisor to the company until June 28 [1] Financial Performance - Ulta raised its fiscal fourth-quarter outlook due to stronger-than-expected performance during the holiday season [2] - The company now anticipates comparable sales to increase modestly, with operating margin expected to exceed the previous range of 11.6% to 12.4% of sales [2] - Earlier in December, Ulta had projected comparable sales to range between a decline of 1% and flat [2] Market Reaction - Shares of Ulta Beauty rose more than 2% in extended trading following the announcement [3]