Ulta Beauty is reportedly no longer expanding into the Canadian market after the company originally said in April 2020 that it would just slow down its expansion due to the pandemic, according to Bloomberg.
Previously: Ulta Beauty Closing Stores on Thanksgiving
Bloomberg reports that in May 2019, Ulta announced plans to enter Canada after years deciding which international market to enter. Since that time, Ulta will reportedly incur costs of $55 million to $65 million as a result of just leasing small stores in the country.
Ulta said its business is better served by building out its U.S. operations, including e-commerce, amid the pandemic.