Ulta Beauty says it plans to expand its store network by a net 200 stores over the next three years and expand its reach through immersive and seamless omnichannel experiences.

The company is also targeting net sales growth of 4 per cent to 6 per cent for 2026 and its loyalty program to have 50 million members by 2028.

“Ulta Beauty is a market leader in a robust, healthy consumer category, and we have delivered strong and consistent profitable growth and shareholder value over time,” said Paula Oyibo, CFO of Ulta Beauty.

“While we expect 2024 and 2025 will be transitional years as we manage through near-term category dynamics, over the long-term, we see an additional opportunity to expand our leadership position, delivering both profitable growth and compelling shareholder value.”

The company also intends to expand its assortment, deepen guest engagement through community building and advanced personalization, and provide distinct service offerings and signature events.

For the current fiscal year, the company reiterated its $11.0 billion to $11.2 billion net sales guidance with -2 per cent to 0 per cent comparable sales and 60 to 65 net more stores.

The company’s medium-term goal is 1800 stores.