Ulta Beauty raised its annual sales and profit forecast after topping quarterly sales estimates on Thursday, banking on steady demand for makeup and skincare brands at its stores as well as lower inventory losses.

Shares of the company were up 6% in trading after the bell.

The company saw stronger store sales, fueled by younger shoppers drawn to trendy and affordable brands such as Elf Beauty.

The cosmetics retailer also expanded internationally with its July acquisition of UK high street chain Space NK .

Ulta has been adding celebrity-owned labels, such as Rihanna 's Fenty Beauty , to its shelves and ramping up digital and marketing investments to deepen shopper engagement.

Second-quarter sales came in at $2.79 billion, beating estimates of $2.67 billion, as per data compiled

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