Ulta Beauty's CEO pointed out that GLP-1 weight loss drugs are causing side effects like hair loss and reduced skin elasticity. Ulta is seeing this as a new revenue stream and leaning into products that treat these issues. The use of GLP-1s from Novo Nordisk and Eli Lilly is expected to jump with new pill versions hitting the market and a push for lower prices. Ulta is already having a strong run. They reported sales were up 10% to $12.4B last year, and the stock has gained 51% over the past year, beating the broader market. Goldman Sachs expects this growth to continue into 2026, driven by new brand launches and improved margins.