The companies said the partnership — which also added some of Ulta’s merchandise to Target’s website — will end in August 2026.

Ulta and Target are ending their agreement, which includes removing the cosmetic chain's mini stores from the retailer's locations by August 2026.

According to Reuters, Target shares dropped 2% and Ulta Beauty’s shares dropped by 1%. Target shoppers can still visit the mini stores through the end of the partnership. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.