Ulta Beauty enters UK with retail chain Space NK's acquisition
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DA Davidson on ULTA Beauty (ULTA) Acquisition of Space SK: 'we do not see it as a major stock mover in the near term'
July 10, 2025 9:56 AM EDTDA Davidson analyst Michael Baker reiterated a Buy rating and $550.00 price target on ULTA Beauty (NASDAQ: ULTA).
The analyst comments "This morning, ULTA announced a small but intriguing acquisition, acquiring Space NK from Manzanita Capital. Space NK operates 83 stores mostly in the U.K., with a few in Ireland. In addition, the company has boutique store-within-a-store set ups in some U.S. department stores, including Bloomingdales and Nordstrom, as well as in Hudson Bay in Canada. Space NK also operates an ecommerce site. Some initial thoughts... More
