Headquartered in Illinois, Ulta Beauty operates a chain of retail stores that sell cosmetics, fragrances, hair-care and skin-care products, and more. It's likely not the worst trade you could make, but be prepared for slow growth as sticky inflation -- and even retail theft, believe it or not -- could hinder Ulta Beauty's results for a while. Indeed, Ulta Beauty CFO Scott Settersten has identified “shrink,” or loss due to theft or errors, as a significant factor impacting the company's quarterly results.