Ulta Beauty reports earnings, leadership changes

BOLINGBROOK - Ulta Beauty Inc. Friday announced financial results for the 2020 fiscal year, as well as several leadership changes.

Net sales decreased 16.8% to $6.2 billion compared to $7.4 billion in fiscal 2019 due to the impact of COVID-19, the company said. Gross profit decreased to $1.9 billion compared to $2.7 billion in fiscal 2019.

"Fiscal 2020 was a difficult year, and I am proud of how our teams navigated the unprecedented challenges with agility and purpose," said Mary Dillon, chief executive officer.

Ulta Beauty also announced a succession plan, with leadership changes all effective in June. Dave Kimbell, president, will succeed Dillon as CEO. He will be nominated to stand for election to the company's board of directors at the 2021 annual stockholders meeting. Dillon will transition to the role of executive chair of the board of directors. Kecia Steelman, currently chief store operations officer, will be elevated to the role of chief operating officer.

"It has been the honor of my career to lead the Ulta Beauty family for the last eight years and a true joy to have been inspired by our dedicated associates and beauty-loving guests daily," Dillon said.