Ulta Beauty (NASDAQ: ULTA) saw a 12.9% increase in net sales to $2.9 billion in Q3, driven by new store openings and rising sales at existing locations, with a 6.3% growth in comparable sales. Operating income fell by 3% due to growth investments, but earnings per share remained flat at $5.14, beating Wall Street estimates.

Ulta’s stock price surged over 12% after the positive sales and profit forecast for the specialty beauty retailer. The company opened 28 new stores, remodeled 15 locations, and ended the quarter with over 1,500 stores worldwide. Revenue continues to grow steadily, with strong sales results and market share gains across all categories and channels.

CEO Kecia Steelman attributed Ulta’s strong sales to exciting assortment newness, improved in-store and digital experiences, and bold marketing efforts. Despite growth investments impacting profitability, Ulta lifted its full-year guidance. Same-store sales are now expected to rise by 4.4% to 4.7%, with earnings projections of $25.20-$25.50 per share, up from previous estimates.

Read more at Yahoo Finance: Why Ulta Beauty Stock Jumped Today