Ulta Beauty expands Bay Area presence with San Jose store
KNIGHT RIDDER/TRIBUNE 9:17 AM ET 5/26/2017
Symbol Last Price Change
ULTA 293.04 0 (0%)
JCP 4.66up 0 (0%)
BEBE 5.03up 0 (0%)
QUOTES AS OF 04:00:00 PM ET 05/25/2017
May 26--SAN JOSE -- Ulta Beauty(ULTA) is widening its local presence with a new San Jose store, an expansion effort that runs counter to the woes that have battered some retailers in the Bay Area and around the nation.
The Illinois-based chain of beauty retail outlets is opening a store at the Almaden Ranch shopping center near the interchange of Highway 85 and Almaden Expressway in San Jose.
"We have already hired more than 20 people from the local community," said Diane Weber, general manager of Ulta Beauty(ULTA).
Ulta Beauty (ULTA) has about 25 Bay Area locations. The beauty retailer plans to open a Vallejo store sometime this year, the company said.
Walmart, J.C. Penney(JCP) and Bebe(BEBE) have closed, or disclosed plans to close, stores in the Bay Area.
Over the 12 months that ended in April, Ulta Beauty(ULTA) earned $446 million on revenue of $5.1 billion. Both numbers were a significant improvement compared to the 12-month stretch that ended in April 2016, over which Ulta earned $345 million on revenue of $4.13 billion.
Investors have raced to embrace Ulta's stock.
Over the most recent 12 months, Ulta shares have jumped 38.6 percent. So far in 2017, its stock is up 14.9 percent. By comparison, a Dow Jones retail index is up 8.7 percent in 12 months and up 8.9 percent year to date.
The new San Jose store was scheduled to open Friday.
"Our store also offers a full-service salon," Weber said.
Salute!
