Kecia L. Steelman, Ulta’s chief working officer who’s seen in business circles as a possible successor to chief govt officer Dave Kimbell, has added president to her title.
Within the joint roles, Steelman has duty for company technique, data know-how, retailer and companies operations, provide chain, Ulta Magnificence at Goal, enterprise-wide transformation and loss prevention.
That features stock shrink — the distinction between balance-sheet stock and precise inventory that’s usually blamed on organized retail crime — which has weighed on Ulta’s gross margin. As a part of that, she has led Ulta’s transfer to lock up perfume in cupboards in 70 p.c of shops by the tip of the yr.
“What we’re seeing is within the preliminary shops that we rolled out the locked perfume instances for, we truly noticed gross sales enchancment as a result of we had been in inventory with the product,” she stated throughout an August name with analysts to debate Ulta’s most up-to-date earnings.
Steelman was named chief working officer in 2021 when Kimbell was appointed CEO. Previous to that, she has been chief retailer operations officer since 2015. Beforehand, she was group vp at Household Greenback Shops from 2011 to 2014.
“Kecia is a gifted govt with a confirmed monitor report of driving operational excellence whereas fostering a caring and inclusive tradition and creating distinctive visitor experiences,” stated Kimbell. “During the last yr, Kecia has elevated her scope and affect inside our group, and this expanded position acknowledges her worth to the corporate and her many contributions to our success, whereas additionally demonstrating our ongoing confidence in her management to assist us drive worthwhile development for the corporate over the approaching years.”
Final month, Ulta raised its full-year outlook on the again of a robust second quarter. The magnificence retailer now expects web gross sales to come back in at a variety between $11.05 billion and $11.15 billion. Beforehand it had forecast $11 billion to $11.1 billion. Estimates for diluted earnings per share have been lifted to $25.10 to $25.60, from $24.70 to $25.40.