LikeFolio’s Landon Swan previews Ulta Beauty (ULTA) before earnings, noting that the stock and data are both up significantly on a year-over-year basis. The recent stock pullback means that there’s “money on the sidelines” and expectations are lower, he argues. One of their strongest points is that they “cover all the bases” in the K-shaped economy, Landon adds, along with a 45 million-strong loyal customer base.