BEAUTY CARE

Ulta Beauty CEO Chuck Rubin to step down

BY Antoinette Alexander

BOLINGBROOK, Ill. — Ulta Beauty announced on Thursday that Chuck Rubin will step down as president, CEO and director, effective Feb. 21, to become CEO at Michaels Stores, a specialty retailer of arts and crafts.

The board of directors has appointed Dennis K. Eck, current non-executive chairman of the board of directors, as interim CEO. Rubin has agreed to assist the company during the transition period.

Ulta Beauty noted that Rubin’s departure from the company is not related to any disputes with management or the board, the company’s operational performance, financial condition or issues regarding the integrity of the company’s financial statements or accounting policies and practices.

“My choice to pursue an opportunity at another company was not easy, but I believe it is the right decision for me and my family,” stated Rubin. “I have very much enjoyed my tenure as president and CEO at Ulta Beauty, working alongside some of the industry’s finest talent. I am proud of what we have accomplished together and am confident that the company will continue to drive value creation for shareholders and other important stakeholders through the execution of its growth strategy.”

The board has formed a search committee comprising Eck, Robert R. DiRomualdo, Charles Heilbronn and Kenneth T. Stevens. The committee has begun a search to identify a permanent CEO and is in the process of retaining an executive recruiting firm to advise the board.

“Ulta Beauty’s board is committed to conducting a thorough and comprehensive search to identify the best candidate to serve as our next CEO,” stated Eck. “On behalf of the board, I would like to thank Chuck for his service to the company. Chuck has been a valuable member of our Board and leadership team and we wish him the very best in his future endeavors.”

“Ulta Beauty has delivered exceptional sales growth and operating margin improvement through the successful execution of our multi-year growth strategy,” continued Eck. “With a strong management team, a deep bench of talent throughout the company and the support of our board, we will continue to build on the positive momentum of our business with a strong focus on executing our strategy. Having served as a member of the Ulta Beauty board since 2003, I have worked closely with management to develop our current strategy and am confident in our collective ability to lead the company forward during this transition period.”

The company also announced fourth quarter fiscal 2012 total sales increased 30% to $757 million and comparable store sales increased 8%. The company is reaffirming its guidance for income per diluted share for the fourth quarter of fiscal 2012 to be in the range of 96 to 98 cents. This compares with income per diluted share for the fourth quarter of 2011 of 73 cents.
 


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Vichy introduces new products to Neovadiol range

BY Antoinette Alexander

NEW YORK — Slated to hit the U.S. retail market in April is the new Neovadiol range from Vichy Laboratoires, a leading pharmacy skin care line for the signs of hormonal aging in Europe and Canada.

The new Neovadiol Gf Lip & Eye Contours and Neovadiol Lumiere BB Cream complete the range, which already includes day and night creams. The Neovadiol range was developed in consultation with experts like dermatologists, obstetricians, gynecologists and psychologists.

Women over the age of 50 represent 43% of the adult population in the United States and 75% of the nation’s wealth, the company stated. However, skin care lines that target this consumer represent less than 10% of the overall skin care market.

The Neovadiol range now includes Neovadiol Gf Day and Night Cream ($55) and the new Neovadiol Gf Eyes & Lips Contours ($47) and the new Neovadiol Lumiere BB Cream ($42).


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Lumene to expand portfolio with new Complete Rewind collection

BY Antoinette Alexander

MARLBOROUGH, Mass. — Lumene, a European skin care and cosmetics brand from Finland, has developed a new anti-aging skin care line that leverages anti-glycation technology to help turn back the hands of time. Enter Complete Rewind.

Sugar molecules in the system attach to fats and proteins in a process called glycation — which leads to advanced glycation end products or AGEs — that cause protein fibers to become still and malformed, the company stated. To help battle the signs of aging, the new Complete Rewind skin care line harnesses the power of an anti-glycation compound, Arctic Sea Buckthorn Oil and a peptide compound.

Complete Rewind is ideal for women over the age of 50 who are battling visible skin aging with deep wrinkles and lines.

The collection, which will launch at retail around June or July, will feature new outer packaging with stronger benefit call outs and a greater focus on efficacy. The bottles will feature a new jar shape and new metallic lid for a higher-end look and feel.

The collection is comprised of a Recovery Day Cream SPF 15 ($29.99), Recovery Night Cream ($29.99), Visible Wrinkle Eraser ($29.99), Recovery Eye Cream ($24.99), Intensive Retinol Night Recovery ($29.99) and Intensive Recovery Beauty Oil ($29.99).
 


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