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Target and Ulta Beauty announced the termination of their shop-in-shop partnership, ending in August 2026. Over 600 Ulta shops within Target stores will close. Target's stock fell following the announcement, reflecting concerns about the impact on sales and store traffic. The partnership, touted by Target as a growth driver for its beauty category, is ending amid Target's broader struggles with declining sales and operational challenges. Both companies expressed satisfaction with their collaboration.

Prepared by Christopher Adams and reviewed by editorial team.