Two leading retailers are pulling the plug on their shop-in-shop partnership.

Target Corp. and Ulta Beauty said that they have mutually agreed not to renew the Ulta Beauty at Target shop-in-shop partnership when the current agreement concludes in August 2026. Until then, the Ulta Beauty at Target experience will continue in Target stores and on Target.com.

The news about the end of the partnership comes several months after Ulta CEO Kecia Steelman, speaking at J.P. Morgan's annual retail conference, said the beauty retailer would pause on adding more in-store shops at Target. Instead, the two companies would focus on the existing shops.

first Ulta shop-in-shop at Target debuted in 2021, and has since expanded to more than 600 locations, about one-third of the retailer's stores

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