Popular American Beauty Store Chain Coming to Canada
If you’ve ever been south of the border, you may have visited one of this beauty chain’s stores before and wished they had locations in Canada.
In that case, it looks like your wish will be coming true.
Ulta Beauty — described as the largest U.S. beauty retailer and a hotspot destination for cosmetics, fragrance, skin care products, hair care products, and salon services — is planning to break into the Canadian market.
The news comes in a recent financial statement posted by Ulta Beauty Inc. detailing the company’s performance during the first quarter of 2019, which ended on May 4.
The results were overall quite impressive: Net sales increased 12.9% to $1,743.0 million compared to $1,543.7 million in the first quarter of fiscal 2018, according to the report.
"The Ulta Beauty team delivered a strong start to the year with solid first quarter sales and earnings performance," said CEO Mary Dillon.
"These results reflect a healthy balance of traffic and ticket growth, and double digit comparable sales growth in mass cosmetics, skin care and fragrance, tempered by continued mixed performance in prestige cosmetics.”
With strong financial results, it comes as no big surprise that the company is planning to move their operation to an international scale, starting right here in Canada.
“We are excited to announce our decision to expand internationally and establish Ulta Beauty as a successful global brand. Our first step in becoming a global beauty retailer will be to prepare to launch operations in Canada,” Dillon said.
Ulta Beauty currently operates 1196 retail stores across the US and is planning to open approximately 80 new stores in fiscal 2019, as well as remodel or relocate some existing stores.
While there’s no word yet on which locations in Canada the company is eyeing, the possibility of an Ulta Beauty store in Ontario could be an attractive prospect for Mississauga residents who don’t want to travel far to check out the retailer’s products.
To read the full company release, click here.