Jim Cramer Is Keeping an Eye on Ulta's Q2 Results Thursday

TheStreet's Jim Cramer is keeping an eye on Ulta Salon, Cosmetics and Fragrance (ULTA) as the beauty retailer gets set to post second quarter results on Thursday after the close. Cramer says Ulta had the highest comparable store sales of any numbers that he saw and it's the fastest growing. He also likes that it's a stable sector, 'you're not going to get fewer haircuts or get your hair done less often.' Cramer credits CEO Mary Dillon with building a 'remarkable' company and putting up the best numbers. Regarding the stock, Cramer says, 'unlike last time, the stock has not run into the quarter. Last time it ran into the quarter, then retreated because the quarter was great but the stock had run, and then exceeded where it was, now it's pulled back.' Cramer says some investors might want to consider looking at deep in the money calls. He says he doesn't like the market but 'I do know that Ulta is a company in a long term secular growth mode.' Analysts polled by Thomson Reuters expect the company to post earnings of $1.12 a share. Revenue is expected to come in at $869.3 million for the quarter - that would be a 18.4 percent rise from last quarter.