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Ulta shares stumble on slightly disappointing earnings guidance

ULTA Beauty event
Tasos Katopodis | CNBC
ULTA Beauty event

Shares of Ulta Salon fell 6 percent on Friday after the company gave current-quarter guidance below Wall Street expectations, despite reporting earnings and sales growth that topped estimates.

The beauty retailer said it expects earnings between $1.25 to $1.30 a share for the fiscal third quarter, slightly lower than analyst predictions of $1.30, according to a consensus estimate from FactSet.

Ulta posted earnings of $1.43 per share on revenue of $1.07 billion, beating analyst projections of earnings of $1.39 a share on $1.06 billion in revenue, according to Thomson Reuters.

The company also said same-store sales grew 14.4 percent during the quarter, easily besting Wall Street expectations of 12.9 percent.

Even with Friday's losses, Ulta shares have been a bright spot in the retail sector, gaining more than 37 percent year to date.