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As a category, beauty is a rare retail bright spot other companies have seized on to lure shoppers and boost flagging sales. J.C. Penney announced plans last month to open 70 more mini-Sephora stores inside its department stores and expand its selection of products in stores and online. In a news release, Chairman and CEO Marvin Ellison said J.C. Penney’s approach to beauty is “one of our biggest advantages over the competition.” Macy’s acquired luxury beauty retailer Bluemercury in 2015 and has been rapidly opening standalone stores and outposts in its department stores. Even fast-fashion retailer Forever 21 is getting in the beauty game, with plans to open Riley Rose beauty boutiques in 13 malls by 2018. Sephora saw double-digit growth in revenue and profits last year and continues to open new stores, according to parent company LVMH Moet Hennessy Louis Vuitton. Evercore ISI analysts likened Ulta and Sephora’s place in the beauty industry to that of Home Depot and Lowe’s or Nike and Adidas, deeming Ulta’s most recent results “otherworldly” in a May report. A new Ulta Beauty store on Michigan Avenue in Chicago on Tuesday, June 13, 2017.
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