Ulta Beauty raises annual forecasts, longtime CFO Settersten to retire

Ulta Beauty on Thursday raised the lower end of its full-year profit and sales forecasts helped by buoyant demand for luxury skincare and fragrances and also said its longtime CFO Scott Settersten will retire in April next year. Settersten who has been with the company for nearly 20 years will be succeeded by Paula Oyibo, the company's senior vice president of finance who joined in 2019. Ulta has also seen a boost from consumer interest steering toward dermatologist recommended brands like La Roche-Posay and CeraVe while also seeing robust demand from social media promotions of brands like Good Molecules, Hero Cosmetics and Peach Slices.