According to a joint release issued Thursday, the companies said they have “mutually agreed” not to renew their pact, which concludes in August 2026. Until then, the Ulta Beauty experience at Target will continue in Target stores and on Target.com, the release said.

The two companies announced the news in a press release. The companies said they will not renew the shop-in-shop partnership when the current agreement ends in August 2026. Guests with linked rewards accounts will continue to earn Ulta Beauty Rewards on eligible Ulta Beauty at Target purchases until then.

By mutual agreement, Ulta Beauty and Target will end their five-year partnership in August 2026, impacting 600 Ulta-Target shop-in-shops.

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

Target and Ulta Beauty are parting ways next summer originally appeared on Bring Me The News. Ulta Beauty is exiting hundreds of Target Corp. stores in a year.

Ulta Beauty (ULTA) and Target Corporation (TGT) announced that they have mutually agreed not to renew the Ulta Beauty at Target shop-in-shop partnership when the current agreement concludes in August 2026.

Ulta will wrap up its mini-store partnership in Target stores after the current contract ends in August 2026, the companies said on Thursday.

Target (TGT) and Ulta Beauty (ULTA) shares declined in early trading on Thursday after the companies announced that they have decided not to renew their partnership when the current agreement concludes in August 2026.

Ulta Beauty shops within more than 600 Target locations will close as the two companies end their partnership. Related video above: Top back-to-school savings secrets revealed According to a news release,

The partnership, which involved small Ulta outlets within the Target stores, was first announced in November 2020, with the initial rollout in August 2021. The deal was aimed at giving Target shoppers greater access to prestige beauty brands.