Ulta Salon, Cosmetics By jetcityimageFounded in 1990, Ulta Beauty, Inc. (ULTA) has grown into the largest specialty beauty retailer in the U.S., offering a broad selection of cosmetics, skincare, haircare, fragrance, wellness products, and salon services under one roof. A key driver of customer engagement has been its Ulta Beauty Rewards loyalty program, which has helped foster a large and loyal customer base. With a market capitalization of approximately $20.43 billion, Ulta Beauty is preparing to report its fiscal 2026 second-quarter results in late August. Heading into the report, Wall Street expects another quarter of steady growth, forecasting earnings of $6.16 per share, up 6.7% year over year. Even so, the company's latest earnings report suggested that the business continues to execute well despite those headwinds.