There's at Least $10k a Month in Theft': Employees Reveal Why Target and Ulta's Partnership Flopped

£10k a month in losses: retail theft isn’t just petty crime, it’s a business crisis. (Credit: Photo Credit: Freepik)

The once-celebrated partnership between US retail giants Target and Ulta Beauty is set to end in August 2026, following mounting internal tensions, operational challenges, and a surge in retail theft that employees claim reached thousands of dollars per store each month.

While the collaboration was initially hailed as a strategic move to bring prestige beauty to mass-market consumers, cracks began to show well before the official announcement of its termination.