Ulta Beauty announces new $3B share repurchase authorization

The company’s board of directors approved a new share repurchase authorization of $3B, which replaces the prior authorization implemented in March. Under the new program, as under the previous program, the company may repurchase outstanding shares of the company’s common stock from time to time through privately negotiated transactions or open market transactions, including under plans complying with Rule 10b5-1 under the Securities Exchange Act of 1934. The new program has no expiration date but may be terminated by the board at any time.