Ulta Beauty Inc (NASDAQ:ULTA) shares are trading higher on Wednesday, potentially triggered by "National Lipstick Day."

National Lipstick Day is celebrated on July 29 and the holiday has grown in popularity as more brands offer freebies and deals to help celebrate.

Ulta Beauty is the largest specialized beauty retailer in the U.S. with more than 1,250 stores. The firm offers makeup (about 50% of sales), fragrances, skincare and haircare products, and bath and body products.

Ulta offers private-label products and merchandise from more than 500 vendors. It also offers salon services, including hair, makeup, skin, and brow services, in all stores.

Ulta Beauty shares were trading up 3.44% at $204.35 on Wednesday. The stock has a 52-week high of $355.36 and a 52-week low of $124.05.