Ulta shares tumble on weaker-than-expected outlook, retailer taps Dave Kimbell as CEO

Ulta Beauty said Thursday that fourth-quarter sales and profit fell from the prior year, hurt by weaker sales of cosmetics during the pandemic.

Although the decline was smaller than expected, shares fell as the beauty retailer gave a disappointing outlook for the coming year. Ulta shares fell more than 8% after the bell.

The company also announced that its CEO Mary Dillon will step down in June, and be replaced by President Dave Kimbell.

Dillon will also transition to executive chair of the company’s board.

Kecia Steelman, Ulta’s chief store operations officer, will be promoted to chief operating officer.

Here’s what the company…