Ulta Beauty : 2024ESG Report
ULTA
A beautiful impact
2024 Environmental, Social and Governance Report
We use our collective strengths to make a beautiful impact on the world
One of Ulta Beauty's most important opportunities is to leverage the power of beauty as a force for good. We're using our collective strength to drive environmental and social progress that makes a beautiful impact on our world.
ABOUT THIS REPORT
Ulta Beauty's 2024 environmental, social and governance (ESG) report captures our areas of progress and impact during fiscal year 2024 in our key focus areas of People, Product, Environment and Community. Please [email protected] with any questions about this report.
ABOUT THE COVER
This reusable tote bag from Conscious Beauty at Ulta Beauty® is made from 100% post-consumer recycled polyester and will be available at all Ulta Beauty stores and online beginning August 2025.
Products (from left to right):
• EcoTools Blend + Bur Makeup Brush & Sponge Duo
• LolaVie Sculpting Paste
• Beekman 1802 goat milk soap
• Ulta Beauty Collection Eyeshadow Singles
• Ulta Beauty Collection Color Snack Eyeshadow Duo
• Peach & Lily Glass Skin Refining Serum
• Orebella BLOOMING FIRE Parfum
• Polite Society Polite Pops Powder Blush Stick
The Possibilities are Beautiful®
Since we opened our first store 35 years ago, Ulta Beauty's success has been driven by our vision to be the most loved beauty destination of our guests and the most admired retailer by our Ulta Beauty associates, communities, partners and investors. Today, as the largest specialty beauty retailer in the United States, we are proud of our impact in bringing All Things Beauty.
All in One Place.
®
$11.3B 1,445
~58K
~600
net sales stores nationwide
associates
brands
44.6M ~29K
300+
loyalty members products
Conscious Beauty at Ulta Beauty® brands
As of February 1, 2025.
Guided by a clear strategic direction
We remain committed to being a force for good by making a beautiful impact. Our strategic business framework leverages our strengths while driving innovation and seizing opportunities that will meet the evolving needs of beauty enthusiasts everywhere.
Our Strategic Imperative
The destination for beauty enthusiasts for a lifetime
To drive profitable growth and share leadership in beauty and wellness by:
Executed with operational excellence Guided by our people, culture and impact
Vision
To be the most loved beauty destination of our guests and the most admired retailer by our Ulta Beauty associates, communities, partners and investors.
Every day, we use the power of beauty to bring to life the possibilities that lie within each of us-inspiring every guest and enabling each associate to build a fulfilling career.
Mission
Unleashing the possibilities:
A conversation with our CEO, Kecia Steelman
As the CEO of Ulta Beauty, how do you define "A Beautiful Impact"?
Making a beautiful impact is the essence of our business. Beauty isn't just what we put on-it's what we put out into the world by helping every guest feel their best, express their true selves and unleash their own possibilities through the power of beauty. Our core purpose-to champion beauty for all and make a positive impact on our associates, guests and the world-is what drives our business and helps us create a welcoming space where guests and associates can thrive. We are poised to bring beauty, belonging and positive impact to more people than ever before, and we take this opportunity seriously.
What are Ulta Beauty's greatest opportunities for expanding its impact?
Ulta Beauty has the capacity to transform our industry through our brand partnerships, our dedicated team and the growth opportunities we see on the horizon. Today, we are evolving our strategy to reach more beauty enthusiasts and embrace all things beauty and wellness, increasing our digital reach, growing our U.S. store footprint and expanding internationally. At the heart of our strategy is our unwavering commitment to people, culture and impact. We believe that by growing responsibly-investing in associates, helping guests shop their values, protecting the beauty of the environment and caring for our communities- we can create an impact that is as meaningful as it is beautiful.
How is Ulta Beauty thinking about diversity, equity and inclusion in today's environment?
Feeling like you belong, being included and having access to opportunity, by definition, are intrinsic to our culture and brand. We serve beauty enthusiasts of all ages and from all walks of life, offering an inclusive product portfolio and welcoming environment where guests can explore and express their unique selves. We want our guests to feel a sense of belonging-that everyone has a home at Ulta Beauty. The diversity of our guests is a growth driver for Ulta Beauty, and by cultivating an inclusive environment we're expanding the reach of our business.
What role do associates play in Ulta Beauty's impact?
I began my career as an hourly associate in retail, so I know firsthand the value that each associate brings to Ulta Beauty. Our associates constitute one of the largest networks of beauty experts in the industry, and their unwavering dedication to serving our guests drives loyalty and deepens brand love. Our associates are the heartbeat of our organization, each making a difference through their unique roles. Their passion for giving back and commitment to doing what's right elevates our impact year-round. That's why we foster a culture of engagement-one that celebrates the beauty of belonging-ensuring Ulta Beauty remains a place for all associates to grow and thrive.
Looking back at Ulta Beauty's sustainability journey, what do you see as the company's biggest accomplishments?
While this is our fifth ESG report, operating in a responsible manner and doing what's right has always been at the heart of who we are at Ulta Beauty. I'm incredibly proud of the work we have done, and the way we've focused our sustainability efforts in recent years. One of the top highlights for me has been the launch of Conscious Beauty at Ulta Beauty®, meeting our guests' passion for clean beauty and wellness. I'm also proud of our commitment to science-based emissions targets, ensuring we are doing our part to maintain the beauty of our environment.
As we continue to grow, we recognize that true beauty goes beyond products-it's about creating a positive, lasting impact on people and the planet. That's why I'm equally proud of the work of our Ulta Beauty Charitable Foundation, which has raised and granted millions of dollars to support well-being for those in need. I am also inspired by Ulta Beauty associates who help fellow associates in crisis by giving to our Associate Relief Fund. To see our impact in action, just visit our stores where you'll find an inclusive product assortment, energy-efficient technology, clean and sustainable beauty brands and, of course, meet our wonderful associates. We know there is still more work ahead, but we are proud of the progress we've made, and we're committed to continuing this journey with purpose and passion.
Ulta Beauty has the capacity to inspire industry transformation, leading by example in how we use beauty as a force for good.
Kecia Steelman
President and
Chief Executive Officer
Our progress in 2024
We have set measurable, time-bound goals across key areas of our business to drive meaningful, long-term industry change. Following is a summary of our progress; unless otherwise noted, all target years refer to the end of the corresponding fiscal year, and data points throughout the report are as of fiscal 2024 end. Though this progress may fluctuate as our product assortment grows, we are committed to transparently sharing progress annually in our ESG report.
GOAL
GOAL
Strive to maintain overall retention (excluding seasonal and temporary associates)
PROGRESS
Achieved
GOAL
Offer training to reinforce inclusivity and address unconscious bias to all store, distribution center and corporate associates
PROGRESS
Achieved
Ensure that 50% of the consumer-level packaging by weight will be recyclable, refillable or made from recycled or bio-sourced materials by 2025
PROGRESS
On track (36% of assortment met this criterion at the end of 2024)
GOAL
Dedicate 15% of total brand assortment
to Black-owned, Black-founded and
Black-led brands
PROGRESS
On track (8% of assortment met
this criterion)
GOAL
Reduce absolute Scope 1 and 2 greenhouse
gas (GHG) emissions by 90% by 2030 (from
a 2019 base year)
PROGRESS
On track (reduced emissions by 33% since 2019)
GOAL
Reduce absolute Scope 3 GHG emissions
covering use of sold products by 28% by 2030
(from a 2019 base year)
PROGRESS
On track (reduced emissions by 30%
since 2019)2
GOAL
Double our spending with underrepresented
suppliers (over 2022 levels, targeting 5.4% of
total spend with diverse suppliers) by the end
of 20271
PROGRESS
On track (3.9% of spend met this criterion)
GOAL
68% of suppliers (by emissions) of purchased
goods and services will have set science-
based targets by 2027
PROGRESS
On track (47% of brand partners by emissions volume have set a science-based target)
GOAL
Donate $1 million to national nonprofit partners focused on supporting mental health and well-being in 2024
PROGRESS
Achieved
GOAL
Donate $2 million to nonprofit partners with programming focused on BIPOC and LGBTQ+ communities in 2024
PROGRESS
Achieved
1 Includes businesses that are minority-, woman-, LGBT-, disability-, veteran-, service-disabled veteran-, and small and disadvantaged-owned.
2 Target will remain in effect until the target year, and determination of achievement will be reported at that time.
Stores that make a difference
4 more energy-efficient products, such
5 beauty packaging collection program by door count in the U.S. - offers guests a way to responsibly dispose of hard-to-recycle empty packaging.
1 upgraded equipment help reduce both
2 An inclusive environment and products
5 The Beauty Dropoff™-the largest
6 Our salon locations minimize water
Ulta Beauty's impact happens in many ways, in many places, but is especially evident in our stores. Here, our initiatives translate to guest loyalty, revenue growth, share leadership and business resiliency, all while protecting the beauty of our environment, supporting the well-being of women and teens and cultivating a more sustainable, inclusive industry that champions beauty for all.
Click on the links below to learn more about each impact.
Energy-efficient LED lighting and
carbon emissions and operating expenses. At select stores, renewable electricity also contributes to reduced emissions.
at all price points cultivate a sense of belonging where all are welcome.
Conscious Beauty at Ulta Beauty® meets guests' desire for clean, sustainably packaged, cruelty-free, vegan or brands that give back.
We work with brand partners to sell as hair styling tools.
consumption when possible.
NOT PICTURED:
Guests carry our reusable 2025 Conscious Beauty at Ulta Beauty® tote bags, made from 100% post-consumer recycled polyester (as seen on the cover of this report).
Guests have opportunities to contribute to nonprofit partners supporting the well-being of women and teens.
Quality benefits, development opportunities and an inclusive workplace foster great associate and guest experiences.
Engaging with the best
Ulta Beauty's team of ~58,000 associates-including those who work in our stores, distribution centers (DCs) and corporate offices-are the heart of how we realize our strategic imperatives every day.
We want to be the most loved beauty destination for a lifetime. This requires understanding all beauty enthusiasts-the product assortment they want, the expertise they need and the experience they desire. Our associates are the secret sauce behind this understanding, sharing their knowledge and passion for beauty while making guests feel welcome, included and comfortable. This, in turn, requires associates who are passionate and engaged, which is why we work hard to support them and invest in their success.
A culture of listening
Hearing directly from associates is what allows us to build and maintain a strong culture and remain agile and nimble in how we meet the evolving needs of this team. Our annual Culture Survey allows us to gather feedback from all associates, particularly our DC and store associates, that will help ensure that we're addressing their needs. In 2024, our overall engagement index was above the industry benchmark, with associates voicing that they felt cared for as individuals, connected to our purpose and able to bring their authentic selves to work-all strong indications of their engagement.
3 Gallup, "42% of Employee Turnover Is Preventable but Often Ignored," July 2024.
We also engaged associates through Chief Chats and Town Halls, during which associates could ask questions of the CEO and Executive Team. This exchange created a direct line through which associates can connect to Ulta Beauty's broader corporate strategy, and executives can more deeply understand the needs of our team.
The long-term value of retention
Engaged associates drive higher retention rates. This cultivates collaboration and community in the workplace and reduces turnover costs that can add up to two times an employee's annual salary.3 We are proud to have achieved our goal of maintaining overall retention (excluding seasonal and temporary associates) set in 2024 and are striving to maintain this level of performance again in 2025.
Investing in growth
As our business and the broader industry evolves, we provide the tools for learning and development that associates need to build their careers and contribute to Ulta Beauty's long-term growth.
Leadership and training programs reach associates in person and virtually, supporting new hires, managers, directors, and store, corporate and DC associates. By investing in the growth of our team, we cultivate positive experiences, stronger engagement and higher retention. In 2024, we evolved our educational offerings through the introduction of UltaLearn, an improved self-serve training platform available to the entire team, with a course catalogue that includes self-directed professional development, new hire onboarding, education about our business and more.
To support those at the beginning of their careers, our robust summer internship program helps young professionals seeking their first post-graduate jobs, as well as in-store associates looking to gain career experience in our DCs and corporate offices.
We also continued to invest in our Internal Leadership Programs for emerging and experienced leaders, including:
• Aspire Leadership Development: Focuses on developing the skills of associates currently without direct reports who want to grow into a leadership role
• New Leader Development Program: Offers new people leaders the skillsets to build their talent bench, develop associates to their full potential and strengthen their leadership capabilities
• Leadership Forums: Fosters development of directors and above through a focus on leadership skills and learning from guest speakers
In addition to leadership programs, we reach store, DC and corporate associates through a variety of learning opportunities on topics such as the joy of human connection. We have also set a goal to provide quarterly enterprise-wide training that promotes inclusive behaviors, experiences and communication among associates, while also ensuring a positive and welcoming shopping experience for all guests.
Disclaimer
Ulta Beauty Inc. published this content on April 25, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on April 25, 2025 at 14:06 UTC.