Lakshya has added new brands to its beauty department. In the increasing number of stores, it also has a mini upside down beauty shop with reputation brands.
Melissa Repo | CNBC
Reverse beauty And Target On Thursday, he said that he has decided to abolish a deal which opened makeup and beauty shops in hundreds of target stores.
In early trade, the target shares fell nearly 2%, while the reverse stock slipped about 1%.
In a news release, companies said that partnership – some of the reverse goods were also added to the target website – will end in August 2026. According to the company spokesperson, Targate had added more than 600 inverted beauty shops to his store. It is about one third of the target 1,981 American stores.
Popular beauty retailer products may be another shock to target the disadvantage because it tries Bringing both shopkeepers back And investor. The annual sales of the target are almost flat for four years and IT Sales are expected to fall This financial year. The company shares were back in 2021, when they were hits at a high level of high time of $ 266.39.
On earning calls and in investor presentations, leaders of the miniapolis-based company postponed the reverse shops and its trendy beauty brands as a way to run store traffic.
In an investor presentation in the city of New York in March, CEO Brian Cornell highlighted beauty as a development category for the target and cited it as a cause of confidence in the long -term business of the target. He said that the company gained market share in beauty and its sales in the category increased by about 7% in the financial year ending early February.
In a statement on Thursday, Lakshya Chief Commercial Officer Rick Gomez said the discount “We are proud of our shared success with reverse beauty and what we have experienced together.”
He said, “We see further what is next and committed to offer beauty experience. Consumers have come to expect from the target – focusing on an exciting mixture of beauty brands with a continuous newness, all focuses on all an unbeatable value,” he said.
In a statement, Ultam’s chief retail officer Amir Bayer-Thomas has described the target deal as “one of many unique methods, which we have brought beauty power to nationwide guests.”
“As we continue to execute our upside down beauty unlished plan, we are confident that our broader classification, expert services and in-store experiences will be strengthened in beauty and define the next chapter of our brand,” she said.
