Ulta Beauty (ULTA) CEO Dave Kimbell is retiring after 11 years at the company, effective Monday, the cosmetics retailer said after the closing bell.

Kimbell will be succeeded by 澳洲幸运5官方开奖结果体彩网:Chief Operating Officer (COO) Kecia Steelman and remain with the company as an advisor thro💯ugh June 28. 

Steelman “has been instrumental in developing our recently refreshed strategic framework,” Chair Lorna Nagler said in a release. Ulta had unveiled a strategic roadmap in October, which included opening 200 net new stores and increasing loyalty program membership to 50 million members by 2028.

Ulta Raises Fourth-Quarter Outlook

Ulta also said it now expects fiscal fourth-quarter comparable sales to “increase modestly” and its 澳洲幸运5官方开奖结果体彩网:operating margin to land above the high end of its previously estimated range of 11.6% to 12.4%. The company will report fourth-quarter results on March 13.

Shares of Ulta rose about 2% in extended trading Monday following the announcꦓement.