04:33 PM EST, 01/06/2025 (MT Newswires) -- Ulta Beauty ( ULTA ) said Monday that Dave Kimbell will retire as chief executive and Kecia Steelman, president and chief operating officer, will succeed Kimbell as president and chief executive and will join the board.

Kimbell will be an advisor to the company through June 28, Ulta said.

Ulta also said that due to "stronger-than-expected performance during the holiday season" it has increased its Q4 outlook.

The company said it now expects comparable sales to "increase modestly" and operating margin to be above the high-end of its previous expected range of 11.6% to 12.4% of sales for Q4.