Ulta Beauty operates a chain of beauty retail stores selling cosmetics, skincare, haircare and fragrance products from a wide range of brands, combining prestige and mass-market beauty products under one roof in a format that differs from department store beauty counters or drugstore beauty aisles. Its stores typically include an in-store salon offering hair, skin and brow services, giving Ulta a services revenue stream alongside its core retail beauty product sales. The company's broad brand assortment, spanning both higher-end prestige beauty brands and more affordable mass-market products, lets it serve a wide range of customers and price points within a single store visit. Ulta's results are sensitive to discretionary consumer spending on beauty and personal care products, along with competitive pressure from other beauty retailers, department stores and the growing direct-to-consumer sales channels that some beauty brands have built.