Retail giant Target and the beauty supply chain Ulta Beauty have announced the corporate equivalent of a “conscious uncoupling.” The companies launched their “store within a store” partnership back in 2021, come August 2026, those mini Ulta shops that now inhabit 600 or so Targets will pack up their makeup cases and leave.

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,

Target (NYSE:TGT) hit with a downgrade to Underperform with rising digital competition, tariff pressures, and challenges in the beauty sector.

Ulta Beauty, the largest cosmetics retailer in the U.S. announced Thursday it is ending its partnership with Target. An announcement from the company says the brands mutually agreed to end the Ulta Beauty at Target shop-in-shop partnership that launched in 2021.

Ulta Beauty (ULTA) on Tuesday received a price target raise from Oppenheimer to $600 from $510, as the firm sounded “upbeat” about new CEO Kecia Steelman’s leadership. Oppenheimer maintained an ‘outperform’ rating,