The companies said the partnership — which also added some of Ulta’s merchandise to Target’s website — will end in 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 This material may not be published, broadcast, rewritten, or redistributed.

Target shoppers will soon see a major change inside stores as the retailer says it has "mutually agreed" to end its "shop-in-shop" shopping experience with Bolingbrook-based beauty retailer Ulta Beauty. According to a press release, the partnership between the two retailers will end next year.