Ulta Beauty has unveiled its long-term growth strategy at its 2024 Investor Day, reaffirming its FY24 guidance. The company targets net sales between $11 billion and $11.2 billion, with earnings per share (EPS) projected to range from $22.60 to $23.50. Ulta also plans to open 200 new stores and grow its loyalty program to 50 million members by 2028. Additionally, the company announced a $3 billion share repurchase plan and aims to expand its beauty and wellness offerings. Ulta forecasts an operating margin of 12.7%-13% for FY24. Despite these ambitious plans, Ulta's shares fell 2.6% following the announcement, as the market reacted to the company's forecast of flat to slightly negative comparable sales growth for FY24. Looking ahead, Ulta's 2026 targets include 4-6% net sales growth and an EBIT margin of 12%.