Shares of Ulta Salon (NASDAQ: ULTA), the “all things beauty” cosmetics retailer, have come under pressure in the wake of its second-quarter earnings report. The sell-off certainly wasn’t due to Ulta’s actual results, which beat analyst estimates across the board. Revenue grew 20.6% over last year, while comparable-store sales grew an impressive 11.7%. Operating margins expanded to 14% compared with 13.5% in the year-ago quarter, and earnings per share grew 28%.