According to a joint release issued Thursday, the companies said they have “mutually agreed” not to renew their pact, which concludes in August 2026. Until then, the Ulta Beauty experience at Target will continue in Target stores and on Target.com, the release said.

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 and Target Corporation announced on Thursday they won’t be renewing their in-store partnership, which ends a year from now in August 2026. Until then, Ulta Beauty products will continue to be sold in Target stores and online at Target.com.

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,