Ulta Beauty Inc. /zigman2/quotes/210513442/composite ULTA +1.65% said Monday that it will close all of its stores until further notice. Store and salon associates will be paid until mid-April and continue to receive the benefits for which they are enrolled. Ulta's e-commerce business will remain operational, with distribution facility workers receiving a $2-per-hour pay raise. Last week, the retailer announced a series of coronavirus-related measures including drawing down $800 million from its credit facility and rethinking its stock buyback program. Ulta Beauty stock has lost half its value in the last year while the S&P 500 index /zigman2/quotes/210599714/realtime SPX +2.62% is down 10.3% for the period.