The following video is part of our "Motley Fool Conversations" series, in which financial and economics sector head Ilan Moscovitz and consumer goods editor and analyst Austin Smith discuss topics across the investing world.

Ulta Salon has been one of the market's top performers over the past year. But is all that growth sustainable? It could very well be. Even as the company has been plowing free cash flow into building more and more stores, it's also getting more efficient -- and that's a good sign for shareholders.

Retail is in its largest period of transition ever. The companies left behind will bankrupt investors, while the few exceptional leaders benefiting from this change will see astounding growth in the years ahead. The Motley Fool has created a free report, "The Death of Retail," that highlights two companies, hand-picked by Fool analysts, that are set to dominate the future. To check out these two companies and learn more about the future of retailing, click here now -- it's free!

Austin Smith has no positions in the stocks mentioned above. Ilan Moscovitz has no positions in the stocks mentioned above. The Motley Fool has no positions in the stocks mentioned above. Motley Fool newsletter services recommend Ulta Salon. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.