Target, Ulta Beauty down after agreeing to end partnership by 2026

** Shares of big box retailer Target TGT.N down 2.2% at $103 in early trading, while cosmetics seller Ulta Beauty's ULTA.O stock down 1.6% at $524.43

** Both companies mutually decided not to renew their partnership, which involved small Ulta outlets within the Target stores, once it concludes in August 2026

** The partnership was first announced in November 2020, with the initial rollout in August 2021, and was aimed at giving Target shoppers greater access to prestige beauty brands

** Including session moves, TGT has fallen 24% and ULTA has risen 21% YTD