Shares of Ulta Salon, Cosmetics & Fragrance (ULTA) - Get Report are rocketing to all-time highs, up 10% after beating on earnings per share and revenue expectations.

"It was a clinic," TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said on CNBC's "Stop Trading" segment.

It wasn't just the stellar 15% growth in same-store sales either. Gross profits were "fantastic" and e-commerce sales soared 39% as the company continues to captures Millennials, Cramer explained.

Ulta has plenty of room to go when it comes to capturing market share, and Cramer thinks the company will continue to domimate behind the leadership of CEO Mary Dillon.

Dillon is "one of the best executives in the country," he said, adding that "she wants to take over the world and I would not want to get in her way." 

The stock deserves this big rally after such good results. "My hat's off to Mary Dillon," Cramer concluded.

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At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.