Ulta Beauty names Dave Kimbell as new CEO

Ulta Beauty names Dave Kimbell as new CEO

Cosmetics retailer Ulta Beauty Inc. ULTA-Q on Thursday named President Dave Kimbell as its new chief executive officer, replacing Mary Dillon, who will become the executive chair of the company’s board of directors.

Kimbell joined Ulta as a chief marketing officer in 2014 and held other executive positions before becoming the president in 2019.

The company forecast fiscal 2021 revenue between $7.2 billion and $7.3 billion. Analysts had expected revenue of $7.32 billion, according to IBES data from Refinitiv.

Ulta’s full-year profit outlook of $8.85-$9.30 per share, missed expectations of $10.61 as demand for make-up products remains under pressure due to extended work-from-home policies.

The company’s shares were down 8.3% at $318.70 after the bell.

Be smart with your money. Get the latest investing insights delivered right to your inbox three times a week, with the Globe Investor newsletter. Sign up today.

Published at Thu, 11 Mar 2021 23:25:13 +0000