Ulta Beauty CFO Bruce L. Hartman resigns
BOLINGBROOK, Ill. -- Beauty retailer Ulta Beauty said Thursday that Bruce L. Hartman has resigned as chief financial officer and will be replaced by Scott Settersten on a temporary basis.
The Bolingbrook, Ill., company said Hartman left "by mutual agreement" with the company, and his departure was not tied to disputes with management, the board of directors, the company's financial condition or any issues related to the integrity of Ulta's financial statements.
The company has started a search for a permanent CFO, and Settersten will be considered.
Settersten joined Ulta in 2005 and has served as vice president of accounting since 2010.
The company provides salon products and services and runs 489 stores in 45 states.
Ulta said last month its fiscal second-quarter net income climbed 46 percent, helped by new products and strong results from new stores. The company earned $35 million, or 54 cents per share, for the quarter ended July 28. Its revenue increased 22 percent to $481.7 million.
Shares of the company formally known as Ulta Salon Cosmetics & Fragrance Inc. fell 68 cents to $95.66 in morning trading Thursday. Its shares are almost 8 percent below their 52-week high of $103.52 in early September. They traded as low as $62.94 just before last Christmas.