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Ulta Beauty shares declined on Wednesday as the company acknowledged challenges and increased competition in the beauty industry during its investor day near its Chicago headquarters. The specialty retailer maintained its fiscal year forecast, with expectations of net sales ranging from $11 billion to $11.2 billion, comparable sales ranging from a 2% decline to nearly flat, and earnings per share between $22.60 and $23.50. Looking ahead to 2026 and beyond, Ulta set financial targets of 4% to 6% net sales growth and low double-digit diluted earnings per share growth, along with mid single-digit operating profit growth and operating margins around 12% of net sales. CEO Dave Kimbell acknowledged the challenges faced in the current year and outlined initiatives to drive sales growth, including partnerships with new brands, an expanded loyalty program, and personalized promotions for customers. The investor day features presentations on Ulta’s strategic plans and includes a question-and-answer session with investors.

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