ULTA is expensive compared to the overall market and with very high expectations for growth. Management turmoil could prove costly to the stock given the high valuation. Check analysis at Liston Street Pulse.
I suggest you look at ULTA's competition. You know, those other retailers out there with a comprehensive selection of beauty products in a bright and roomy big box environment. Guess what. You can't find a competitor. ULTA has no competitors. They offer a wider selection of products than the department stores plus they have high-end salons right inside the store. I tried to find a competitor to franchise and there aren't any. That's why ULTA will grow revenues above market averages for years to come. I just wish I had bought 2 or 3 times as much stock as I did. I'm doubling down if we get a market correction.