Ulta Beauty raises full-year outlook after increase in Q2 sales

Ulta Beauty reported a Q2 earnings beat and an increase in sales, leading the company to raise its full-year outlook. Despite these positive financial results and the improved guidance, the company's stock price slipped by 4%. In a related market movement, e.l.f. Beauty also experienced a pullback. The reports highlight a contrast between Ulta Beauty's strong operational performance and the immediate negative reaction from investors in the beauty sector's stock market activity.