Ulta Salon, Cosmetics & Fragrance Inc. [ULTA] announced that Chuck Rubin will join as President and Chief Operating Officer and as a member of board effective May 10, 2010. Following a transition period of up to four months, Rubin will become Chief Executive Officer, the company specified.
The company stated that Lyn Kirby will continue as Chief Executive Officer through the transition period and thereafter will provide guidance and counsel as a member of the company's Board through March 17, 2011.
The company noted that Rubin comes to Ulta with 30 years of retail experience. The company said that Rubin joins it from Office Depot where he served as President North American Retail.
Looking ahead, the company expects to deliver first quarter comparable store sales increase of about 10.5% while continuing to maintain its merchandise margin and operating expense disciplines.
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