Ulta Salon, Cosmetics & Fragrance Inc. (Nasdaq: ULTA) shares gained 8.7% to $53.92, a day after the beauty-products maker posted better-than-expected first-quarter results. Volume for the stock topped 1.9 million shares, towering over a daily average of 639,000.

Tuesday, Ulta, based in Bolingbrook, Ill., announced comparable store sales (sales for stores open at least 14 months) increased 11.1% in the period ended April 30, 2011, compared to an increase of 10.8% in the first quarter of fiscal 2010. Net income increased 70.5% to $23.3 million compared to $13.7 million in the first quarter of fiscal 2010.

In the June 7, 2011 press release which divulged these numbers, Ulta CEO Chuck Rubin commented, “We had a terrific start to the year with total sales, comparable store sales and net income per share solidly ahead of our guidance, demonstrating the ongoing preference of our beauty experience and the continued success of our growth strategies.

Rubin continued, “Our first quarter results included net sales growth of 20.6% driven by an 11.1% increase in comparable store sales and the expansion of our store base. Operating income grew faster than sales climbing 67.4% from the first quarter last year to 10.1% of net sales. During the quarter, we gained market share advancing each of the priorities we set at the beginning of the year. To this end, we were pleased with our new store performance and remain on track to expand square footage by 16% this year.”

Ulta is the largest beauty retailer that provides one-stop shopping for prestige, mass and salon products and salon services in the United States.