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Ulta Beauty shutting all its stores? Here's what you should know
Ulta is offering discounts up to 75% on some products. It’s a chance for fans to grab deals on things like makeup, skincare, and perfumes.
Another store is shutting down after many years, adding to the growing list of closures in the retail world.
Ulta Beauty, a well-known beauty store, will close one of its Chicago locations on June 14. This store has been open for 12 years inside the Roosevelt Collection Shops in the South Loop. Soon, it will be gone.
Big discounts
Until then, people nearby can shop big sales before the store closes for good. Ulta is offering discounts up to 75% on some products. It’s a chance for fans to grab deals on things like makeup, skincare, and perfumes.
This isn’t the only store closing in the same shopping center. Other places like The Container Store and Kido Chicago have already shut their doors.
Retail stores are having a hard time these days. Prices are rising, people are shopping differently, and the economy is uncertain. These things are causing more and more stores to close.
Ulta didn’t say exactly why this store is closing. But they did say before that they’re not “immune” to tough times in the economy.
Also Read: List of stores closing this weekend, including 124-year-old iconic brand
There’s more competition now, especially from stores like Sephora. Also, more people are shopping online instead of going to stores in person. That’s made it harder for stores like Ulta to get customers through the door.
Ulta’s store facing new challenges
Ulta’s new CEO, Kecia Steelman, said stores are facing new challenges.
People want faster delivery and shop more online now, and that’s hurting store traffic.
As per US Sun report, Steelman said Ulta is "not immune" to the broader economic pressures impacting consumer behavior.
In the last quarter, Ulta saw 7% fewer visits per store, even though total sales went up a little.
Ulta still plans to grow. They want to open 200 new stores over the next three years, even as some locations shut down.
This closing store is just one of ten Ulta shops in the Chicago area. The other nine are staying open.
On May 30, during a company call, Steelman said that perfume and skincare are still doing well. Celebrity products are selling, but makeup sales are down a bit. Haircare sales stayed the same.
She said beauty is still important to customers. “Value is an increasingly important priority as they navigate ongoing wallet pressures,” Steelman noted.
Earlier this year, the new CEO talked about ways to improve the business. Ulta has also said that more store closings will happen this year.
