Ulta Beauty's Strategic Developments and Growth Trajectory Justify Buy RatingWe believe the selection is interesting, as Mr. DelOrefice's experience has centered around medical devices, pharmaceutical, and biotechnology-related leadership roles. However, Mr. DelOrefice has 30+ years of financial experience with Ulta management noting that he brings "demonstrated experience leading core finance functions, global operations, strategy, corporate development, and enterprise transformation for public companies". We don't expect much change to Ulta's current Beauty Unleashed strategy that was unveiled back in March with recently promoted-to-CEO Kecia Steelman. Overall, we expect Ulta to continue to focus on its three key priorities that have already shown near-term positive results, including positive comps and better-than-expected profitability. New CFO to join in December.