NEW YORK — Target and Ulta Beauty are ending their partnership, which began in 2021 and featured in-store beauty shops at numerous Target locations.

In a joint announcement on Thursday, both companies stated they have “mutually agreed” not to extend their partnership beyond August 2026. Until that time, the Ulta Beauty experience will remain available at Target stores and on Target.com, according to the release.

Ulta is currently in 600 of Target’s roughly 1,980 stores, according to a Target spokesperson.

Amiee Bayer-Thomas, Ulta Beauty’s chief retail officer, commented on the collaboration, saying, “For 35 years, Ulta Beauty has transformed the beauty experience — offering an unrivaled selection from mass to luxury. Our partnership with Target was one of many distinct ways we have delivered the beauty experience to guests nationwide.”

Rick Gomez, Target’s executive vice president and chief commercial officer, expressed his commitment in a statement to “providing the beauty experience customers look forward to at Target.”

The partnership was initially announced in 2020 as the COVID-19 pandemic altered shopping behaviors, with more individuals opting for one-stop shopping to reduce virus exposure. While mask-wearing during the pandemic affected lipstick sales, skincare products saw an increase in demand.

The shops within Target are about 1,000 square feet, featuring makeup, skincare, and fragrances, and have been positioned alongside Target’s existing beauty sections, aiming to broaden both companies’ customer reach.

“It’s a combination of two winning retailers that have great momentum in the market that can redefine the category,” Target CEO Brian Cornell told The Associated Press back in 2020.

The announcement comes as Target is struggling to regain its footing with its shoppers who are pulling back on discretionary items and are shopping at other rivals that they believe to be lower price or offer better merchandise.

Target is slated to report its fiscal second-quarter results on Wednesday.

In September 2022, Target extended its contract for its chairman and CEO Brian Cornell for another three years. It has not announced its succession plan.

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