Ulta To Launch a New Holding Company

Ulta Salon Cosmetics & Fragrance Inc. announced Friday that it is forming a new holding company, Ulta Beauty Inc., on Jan. 29, 2017, the start of the company's new fiscal year. Business operations won't change, according to Ulta, but the reorganization will result in "a more efficient corporate structure." All outstanding shares of common stock will automatically convert, and the stock will continue to trade under the "ULTA" ticker. Ulta shares are down 0.2% in premarket trading, but up 56.6% for the past year. The S&P 500 index is up 22% for the last 12 months.