Cramer Talks About Ulta Salon's 'Beautiful' Run

Shares of Ulta Salon, Cosmetics & Fragrance, Inc. (NASDAQ: ULTA) were trading higher by more than 9 percent Thursday after the company revised its third quarter and full year guidance.

According to Jim Cramer, Ulta is one of the few "selfie generation" stocks. He noted that the company's previous earnings results included an earnings beat and a 14 percent comps growth, which is "the best comps of anyone."

Related Link: Ulta Shares Rally As Management Raises Q3, FY 2016 Outlook

Cramer said Ulta's CEO Mary Dillon could "reignite" investors enthusiasm during the company's analyst meeting on Thursday and will also present her case during Cramer's "Mad Money."

Cramer suggested the case for owning Ulta Salon's stock is clear as "the market will realize that nothing else is working" in retail, except for maybe Best Buy Co Inc (NYSE: BBY).

The stock has gained nearly 40 percent since the start of 2016, a move which Cramer described as "beautiful."

Ulta is also attractive because they don't have much foreign currency "worries" and its valuation has come down since hitting a 52-week high of $278.63 back in August.

"You need makeup to go outside because its the selfie generation," Cramer added. "It is. 'Here, take a picture of me'... that's what people say."