RTTNews | Nov 10, 2020 09:48AM EST

09:48 Tuesday, November 10, 2020 (RTTNews.com) - Shares of Ulta Beauty (ULTA) are rising over 9% today morning, after the company announced a strategic, long-term partnership with Target Corp. (TGT) to transform the beauty landscape with Ulta Beauty at Target.

The "shop-in-shop" concept would offer established and emerging brands online and in select Target locations nationwide beginning next year.

"Ulta Beauty at Target reflects further evolution in our omnichannel strategy, rooted in unlocking the potential of our physical and digital footprints, creating more seamless shopping opportunities for our loyal guests and continuing to lead the beauty industry. More than ever before, now is the time for innovation in retail," said Mary Dillon, CEO, Ulta Beauty.

ULTA has been trading in the range of $124.05 - $304.65 for the past one year, and is currently trading at $271.49, up $24.29 or 9.83%, with trading volume of 1 million more versus an average volume of 1.035 million shares.

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