Shares of Ulta Beauty soared double-digits on Friday after the company posted a strong fiscal first quarter and raised its fiscal-year outlook in the face of macroeconomic uncertainty. A raft of positive commentary was also driving the stock higher as analysts posited that Ulta was becoming a beauty of a competitor in the industry.

Ulta Beauty exceeded profit and sales estimates as consumers look to beauty products as a "comfort and escape."

Ulta Beauty's sales rose through the start of May as customers kept up their appearances. “Many consumers indicate that they’re leaning into beauty as a comfort and escape from the stress of macro uncertainty,