🛍️ 1. Target Is Ending Its Partnership With Ulta Beauty
One of the biggest shifts this year isn’t that Target is closing entire full-size retail stores — it’s that Target is planning to wind down the Ulta Beauty shop-in-shop experience that has existed inside many of its stores since 2021. (Fast Company)
Here’s what we know:
Target and Ulta Beauty have mutually agreed not to renew their partnership, which is set to conclude in August 2026. (AP News)
The collaboration created roughly 600 Ulta shop-in-shop mini-stores inside Target locations — small beauty sections averaging about 1,000 square feet, offering cosmetics, skincare, and fragrance. (Fast Company)
Those specific in-store Ulta Beauty sections will close as the agreement ends. (Fast Company)
Customers can still shop Ulta products at Target and earn loyalty rewards until the partnership officially concludes. (AP News)
Although these aren’t full Target store closures, this change will remove a major draw for beauty shoppers at hundreds of Targets nationwide, especially if those departments are significant to a store’s traffic and revenue.
📍 2. Target’s Core Store Count Is Underscored by Broader Industry Trends
Target itself hasn’t released a comprehensive list of standard store closures for 2026. In fact, recent filings from the company show plans to continue growing its retail footprint — including opening new stores in spring 2026, notably in states such as California, Missouri, New Jersey, North Carolina, and Texas. (corporate.target.com)
That means:
While full Target retail closures aren’t widely confirmed, individual in-store concepts like Ulta Beauty are set to disappear.
Target still has nearly 2,000 stores across the U.S., and it plans to open more this year and beyond as part of a long-term growth strategy. (corporate.target.com)
So, unlike some other retailers trimming dozens of underperforming physical locations this year, Target’s major known contraction is happening through partnerships and internal reorganizations rather than shutters of primary store locations.
📉 3. Why the Retail Landscape Is Shifting (Context)
The changes at Target are part of a broader shift in the retail sector.
A recent industry analysis found that over 800 retail and restaurant locations — spanning multiple brands — are set to close in the U.S. in 2026. (Business Insider)
This reflects several ongoing pressures:
Consumer buying habits continue shifting toward online shopping.
Brick-and-mortar stores are under rising cost pressures.
Retailers are re-evaluating physical footprints to focus on the most profitable locations.
While Target itself isn’t announced as a major closer of entire stores this year, the broader industry trend helps explain why companies are tightening operations and making strategic decisions about where and how they operate.
📉 4. Target Is Reshaping Its Operations — but Not Full Store Closures
This year, Target’s corporate leadership is executing internal changes that affect the structure and priorities of the business — and that indirectly influence the store experience. (Reuters)
Here’s what’s happening behind the scenes:
Target’s new CEO, Michael Fiddelke, is shifting resources to improve customer experience and frontline staffing. (Reuters)
While the company is not closing its general stores en masse, it is cutting around 500 jobs in distribution centers and office roles — reallocating funding to store operations. (Reuters)
Fiddelke is also reshaping the leadership team to streamline decision-making and execution. (AP News)
These strategic moves signal that while Target is financially responsive, its focus remains on strengthening its in-store model, not eliminating large swaths of its retail footprint.
🛍️ 5. Partial Closures vs. Full Store Closures — What’s the Difference?
It’s important to separate two types of “closure” when considering Target in 2026:
❌ Ulta Mini-Shops Closing Within Target Stores
These are beauty shop-in-shop concepts within existing Target stores.
They will shutter by August 2026 due to the end of the partnership with Ulta Beauty. (Fast Company)
🏬 Continuing Target Retail Stores
Target has not publicly announced a widespread list of full store closures for 2026.
On the contrary, it is continuing to invest in new store openings across the country. (corporate.target.com)
So far, the only confirmed closures tied specifically to Target involve third-party concessions inside stores, not the full Target retail locations themselves.
🛍️ 6. What This Means for Shoppers and Employees
For Shoppers
You may see Ulta Beauty departments disappear from Target locations by the end of summer 2026 — and those areas may be replaced with Target’s own beauty products or new mini-shops. (AP News)
Regular Target store experience in most locations — groceries, home goods, apparel, etc. — is expected to continue.
If a location does undergo a closure list release in the future, Target will typically post notices on its site and in stores in advance.
For Employees
Those working in Ulta Beauty spaces inside Target stores could see role changes or transfers as those areas shut down.
Distribution and corporate teams may experience workforce reduction, but the company says support resources will be offered. (Reuters)
🛍️ 7. Why Retailers Are Choosing to Consolidate Experiences
The Target-Ulta split highlights a growing trend: retailers are experimenting with partnerships to drive traffic, but also willing to revert or retreat when partnerships no longer align with strategy.
The Ulta-Target mini-stores were once a way to:
Attract beauty consumers,
Increase in-store dwell time and purchases,
Expand brand exposure for both retailers.
But as consumer behavior changes and costs press tighter margins, such co-located partnerships are being reevaluated.
Target, for its part, is signaling it will continue offering beauty products through its own channels rather than relying on a third-party presence across 600+ stores. (AP News)
📊 Looking Ahead: Retail Trends in 2026
Even without a full list of standard Target store closures, here’s how 2026 is shaping up in retail:
More than 800 store closures are already slated across various brands in the U.S. this year — a continuation of the trend seen in 2024 and 2025. (Business Insider)
Department store closures (e.g., Macy’s ongoing plans) and reductions in traditional mall anchors continue. (Business Insider)
Some retailers are expanding their footprint digitally or in new formats rather than through traditional retail outlets.
Target, in contrast, appears to be rebalancing and optimizing, not downsizing its core store network.
📣 Final Takeaway
There isn’t yet a detailed public list of standard Target full-store closures in 2026. What is confirmed is a major operational change: Target’s long-running partnership with Ulta Beauty will end by August 2026, meaning more than 600 in-store Ulta Beauty departments will close as part of that transition. (Fast Company)
Meanwhile, Target continues to invest in new locations and refocus resources on its shopping experience, suggesting a strategy aimed at strengthening its traditional retail presence rather than shrinking it. (corporate.target.com)
If you want the very latest on specific Target locations that might be closing soon (beyond the Ulta context), I can pull updated store-by-store listings from corporate filings or local news reports depending on the states you’re curious about — just ask!
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