Ulta Beauty's stock is down 5.5% as investors react to the company's underwhelming full-year outlook despite reporting a strong first-quarter beat. The cosmetic retailer's year-over-year same-store sales grew 5.3%, driven by increased transactions and purchase volumes. The company made significant moves with 20 new brand launches, a TikTok shop storefront, and 16 new store openings, including one in Dubai.