Ulta Beauty Is Reviewing Which Stores to Keep Open
Big cosmetics retailer Ulta Beauty (NASDAQ: ULTA) is turning the COVID-19 pandemic and its aftershocks into an opportunity to review and streamline its store network, according to Ulta executives and other sources. The company's Chief Financial Officer (CFO), Scott Settersten, summed up the process and the thinking behind it by saying, "If you did this with a white, clean piece of paper, how would you reorganize your store fleet?"
Ulta is reviewing a variety of factors in deciding which stores to keep open and which to close. These factors include profitability, rent, traffic, and location. Some stores may undergo relocation to more favorable retail space in malls and other shopping areas, pouncing on desirable floor space left open by shops shut down permanently during the coronavirus retail disaster.
Image source: Getty Images.
Source Fool.com
