01—Abstract
Summary
Summary of the 8-K filed August 14, 2025. Cited figures are marked; the original filing is the authoritative source.
On August 14, 2025, Ulta Beauty, Inc. filed a Form 8-K disclosing that it and Target Corporation have mutually agreed not to renew the Ulta Beauty at Target shop-in-shop partnership when the current agreement concludes in August 2026.
Until then, the Ulta Beauty at Target experience will continue in Target stores and on Target.com, and guests with linked rewards accounts will continue to earn Ulta Beauty Rewards on eligible purchases until August 2026. The company states that the conclusion of the partnership is not expected to be material to its fiscal 2025 financial results or previously stated long-term financial targets. The disclosure was made under Item 8.01 (Other Events), with the announcing press release furnished as Exhibit 99.1.
The press release, which quotes Ulta's chief retail officer and Target's executive vice president and chief commercial officer, states that both companies will maintain a seamless shopping experience and product availability through the end of the partnership. Ulta also stated it is launching Ulta Beauty Marketplace later this year, a curated online destination intended to engage new brands and audiences.
02—Key points
Key Highlights
- Ulta Beauty and Target mutually agreed not to renew the Ulta Beauty at Target shop-in-shop partnership, which concludes in August 2026.
- The Ulta Beauty at Target experience continues in Target stores and on Target.com until the agreement ends.
- Guests with linked Ulta Beauty Rewards and Target Circle accounts will keep earning Ulta Beauty Rewards on eligible purchases until August 2026.
- The company states the partnership's conclusion is not expected to be material to fiscal 2025 results or previously stated long-term financial targets.
- Ulta plans to launch Ulta Beauty Marketplace later this year as a curated online destination for new brands and audiences.
- Ulta describes itself as the largest U.S. specialty beauty retailer with approximately 1,500 stores across the U.S.
03—Questions
Frequently Asked Questions
Why are Ulta Beauty and Target ending their partnership?
The filing states that the two companies mutually agreed not to renew the shop-in-shop partnership when the current agreement concludes in August 2026. It does not give a further reason.
Will Target shoppers still be able to buy Ulta Beauty products after the announcement?
Yes. The Ulta Beauty at Target experience will continue in Target stores and on Target.com until the current agreement concludes in August 2026, and both companies say they will maintain product availability through the end of the partnership.
What is the financial impact of the partnership ending?
The company states that the conclusion of the partnership is not expected to be material to its fiscal 2025 financial results or previously stated long-term financial targets. The filing gives no specific dollar figures.
What happens to Ulta Beauty Rewards members who linked their accounts with Target Circle?
Guests with linked rewards accounts will continue to earn Ulta Beauty Rewards on eligible Ulta Beauty at Target purchases until August 2026.
What new initiatives did Ulta mention alongside the announcement?
Ulta said it is launching Ulta Beauty Marketplace later this year, a curated online destination designed to engage new brands and audiences, as part of its Ulta Beauty Unleashed plans.
04—Continue