Ulta Beauty to Close Mini-Stores in Target Locations by August 2026

Ulta Beauty will close its mini-stores in Target locations by August 2026, ending a five-year partnership between the two companies. The decision comes amid Target's struggles with declining sales and increased tariffs on imported products. Ulta Beauty operates 1,451 stores across the US, with over 600 mini-stores within Target retailers. Shoppers will still be able to purchase Ulta products from Target stores and online until the partnership ends.

Ulta Beauty (NASDAQ: ULTA) and Target Corporation (NYSE: TGT) have mutually agreed to conclude their in-store partnership, effective August 2026. The decision marks the end of a five-year collaboration that saw Ulta Beauty operate mini-stores within Target locations across the country. The partnership, which began in 2021, aimed to provide Target shoppers with access to prestige beauty brands.

The announcement was made on August 14, 2025, by both companies, stating that the Ulta Beauty at Target experience will continue in Target stores and on Target.com until the partnership ceases. Customers with linked rewards accounts will continue to earn Ulta Beauty Rewards on eligible Ulta Beauty at Target purchases until the end of the partnership.

Ulta Beauty operates 1,451 stores across the US, with over 600 mini-stores within Target retailers. The company has been expanding its international presence through joint ventures and franchises, including a subsidiary in the UK and Ireland. Despite the ending of the partnership, Ulta Beauty remains committed to delivering a seamless shopping experience and product availability.

Target, on the other hand, has been facing challenges with declining sales and increased tariffs on imported products. The company has been working to curate a differentiated beauty assortment and new experience for its tens of millions of weekly shoppers, featuring a compelling lineup of essentials and unexpected finds, engaging product trial events, and a commitment to affordable prices.

Both companies remain committed to supporting their teams and partners during the transition. The Ulta Beauty at Target experience has been a significant part of Target's strategy to offer an inspiring and convenient shopping experience, combining on-trend products with unbeatable value.

The decision to end the partnership comes as Target faces softening demand due to ongoing economic concerns and inflation. However, the beauty segment has shown resilience, with sales rising by 5% in 2024 compared to a 0.9% decline in overall merchandise sales.

References:
[1] https://corporate.target.com/press/release/2025/08/ulta-beauty-and-target-announce-plans-to-conclude-partnership-in-2026
[2] https://www.adweek.com/commerce/target-ulta-beauty-to-end-in-store-partnership-in-2026/
[3] https://finance.yahoo.com/news/ulta-beauty-target-plan-conclude-131230536.html