Ulta Beauty strikes deal to open hundreds of shops at Target stores

first_imgAt Ulta, Dillon said sales have reflected “a desire to take care of ourselves more at home,” as customers buy items like facial masks and supplies for do-it-yourself nails or hair care.Cornell said Target’s deal with Ulta will “build on momentum we have in the category and investments we’ve been making for years in beauty.”“This is a very important category,” he said. “We continue to believe it’s going to be a high-growth category.”Target and Ulta’s partnership is not the first of its kind. J.C. Penney and Sephora struck a similar agreement in 2009 to add a makeup and beauty shop concept at the department stores. However, the long-struggling department store has lost market share as Target has gained it. Penney filed for bankruptcy protection in May.At Ulta Beauty at Target, Dillon said customers will find a “curated assortment of established and emerging prestige beauty brands.” Shoppers will also see a pandemic-inspired addition: a virtual tool from Ulta called GlamLab that allows customers to safely try on makeup digitally, instead of sharing samples of lipstick and eye shadow palettes with others.Cornell and Dillon said the companies are working together to identify the stores that will get the shops first and said their beauty merchants will help choose the featured brands and products.“It will be showstopping,” Dillon said. “Target guests will not miss it. They will see that something new is happening, and I think they’ll want to jump in and participate.” Target has struck a deal with Ulta Beauty to open shops with makeup, skincare, hair products and more inside of hundreds of its stores.Source: Ulta Beauty – Advertisement – Instead of a shared tube of lipstick, shoppers can use Ulta’s digital tool called GLAMLab to safely try a makeup item. – Advertisement –center_img Ulta shares were up more than 7% early Tuesday in premarket trading, after the companies announced the news. Target shares were up nearly 2%.Cornell and Ulta CEO Mary Dillon said in an interview with CNBC that they see the strategic partnership as a long-term deal that will catch customers’ attention and drive higher sales. They declined to share the length or financial terms of the agreement, but said they will expand Ulta Beauty at Target to hundreds of additional stores over time.As the coronavirus pandemic shakes up the retail industry and shopping behaviors, Dillon said the two retailers are “embracing a time of change to innovate and to lead.”- Advertisement – With the deal, Target will gain a unique traffic driver in a fast-growing merchandise category, while Ulta will gain visibility on store shelves and on a website that has expanded its reach during the pandemic.Both companies will gain a larger audience. Together, they have more than 100 million active loyalty program members across Target Circle and Ultamate Rewards — with more than 33 million of those coming from Ulta.Target has been able to keep its nearly 1,900 stores open throughout the global health crisis as an essential retailer, selling everything from groceries to throw pillows. The retailer’s profits jumped by about 80% in the second quarter compared with the same period a year earlier. Its curbside pickup service, Drive Up, grew more than 700% during the three-month period. And the company said it attracted 10 million new digital customers and picked up $5 billion in market share in the first half of the year.As many retail competitors have struggled, Target has had strength — even in discretionary categories. Its beauty sales grew by more than 20% in the second quarter.Ulta, on the other hand, was hit hard by store closures. The beauty retailer’s same-store sales dropped by 26.7% in the second quarter year-over-year, but have gradually improved. Comparable sales, which is made up of sales at stores open at least 14 months and its e-commerce sales, were down 37% in early May, but recovered slightly and were down by 10% in July when most of its 1,264 stores were reopened.Beauty sales have been rocky across the industry during the pandemic. Americans have fewer social outings and are working remotely instead of dressing up for the office. About 70% of consumers scaled back their use of makeup this year, according to The NPD Group.However, some categories like skincare and hand soaps have gained popularity as shoppers focus on relaxation and self-care, the firm found. Hair product sales, for example, rose by 11% in the third quarter, as customers bought hair masks and hair color.“We are seeing two stories unfold for beauty – one of stagnation and the other of recovery,” said Larissa Jensen, beauty industry advisor of The NPD Group in a report. Target and Ulta Beauty said Tuesday that they have struck a deal to open makeup and skincare shops inside of hundreds of Target stores across the country.Starting in the second half of next year, Target CEO Brian Cornell said shoppers will find a smaller version of an Ulta store in more than 100 of Target’s stores and on its website. Each “shop-in-shop” will be about 1,000 square feet with more than 40 beauty brands and a rotating assortment of products from hair care and fragrances to lip gloss. Customers can shop in person or use Target’s same-day services, such as curbside pickup or home delivery by Shipt, to get their online beauty purchases.Ulta will train Target employees as beauty consultants.- Advertisement –last_img read more

Gold Coast acreage estate hits the market for the first time since 2004

first_img173 Stewart Rd, Clagiraba.Ray White Surfers Paradise Group CEO Andrew Bell said the property was a unique opportunity to secure a prime slice of the city’s picturesque hinterland.“Whether the buyer’s intentions are lifestyle, farming or weekend retreat, this property offers an abundance of options because of its size, the stunning residences and the extensive equestrian infrastructure already in place,” Mr Bell said.“It is a standout because of its irrigated and largely flat usable land fronting the river, which is a rarity for the area.”The property is going to auction on October 26. 173 Stewart Rd, Clagiraba.Spanning more than 35 acres and fronting the Coomera River, the property at 173 Stewart Rd, Clagiraba features two main residences, a caretaker’s cottage, horse paddocks and a stable precinct.Keen to find an even larger and more rugged rural property to suit their sport, the Tuminellos have listed the estate for auction with Josh Thomas, of Ray White Prestige. 173 Stewart Rd, Clagiraba.WANT your own motocross track?This stunning Gold Coast acreage estate has been home to brothers John and Carlo Tuminello and their young families for the past 13 years and has been the perfect property for their shared love of motocross. 173 Stewart Rd, Clagiraba.The estate’s fenced and irrigated horse paddocks have eight shelters and are serviced by a stable compound with a bedroom, bathroom and kitchen.There is also a separate two-bedroom caretaker’s residence.center_img Inside one of the residences.More from news02:37Purchasers snap up every residence in the $40 million Siarn Palm Beach North3 hours ago02:37International architect Desmond Brooks selling luxury beach villa23 hours agoJohn Tuminello said the property had been wonderful for both families, especially the children.“We’ve had camp-outs and bonfires — the kind of stuff you just can’t do in most backyards,” he said.“It’s one of the nicest properties on the river in the Guanaba Valley.”Carlo Tuminello said they had enjoyed living in a semirural location on the doorstep of everything the Gold Coast offers. 173 Stewart Rd, Clagiraba features two stunning residences.One of the main residences has five bedrooms, five bathrooms, an expansive open-plan layout, formal lounge with fireplace, gymnasium/sun room, home office and pool.The other major residence has four bedrooms, two bathrooms, open-plan kitchen and living area with a fireplace, extensive balcony, large media room and office.last_img read more