Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    StockNews24StockNews24
    Subscribe
    • Shares
    • News
      • Featured Company
      • News Overview
        • Company news
        • Expert Columns
        • Germany
        • USA
        • Price movements
        • Default values
        • Small caps
        • Business
      • News Search
        • Stock News
        • CFD News
        • Foreign exchange news
        • ETF News
        • Money, Career & Lifestyle News
      • Index News
        • DAX News
        • MDAX News
        • TecDAX News
        • Dow Jones News
        • Eurostoxx News
        • NASDAQ News
        • ATX News
        • S&P 500 News
      • Other Topics
        • Private Finance News
        • Commodity News
        • Certificate News
        • Interest rate news
        • SMI News
        • Nikkei 225 News1
    • Carbon Markets
    • Raw materials
    • Funds
    • Bonds
    • Currency
    • Crypto
    • English
      • العربية
      • 简体中文
      • Nederlands
      • English
      • Français
      • Deutsch
      • Italiano
      • Português
      • Русский
      • Español
    StockNews24StockNews24
    Home » Elf Beauty lifts annual forecasts on resilient cosmetics demand, shares up
    Cryptocurrency News

    Elf Beauty lifts annual forecasts on resilient cosmetics demand, shares up

    userBy userNovember 6, 2024No Comments2 Mins Read
    Facebook Twitter LinkedIn Telegram Pinterest Tumblr Reddit WhatsApp Email
    Share
    Facebook Twitter LinkedIn Pinterest Email


    By Anuja Bharat Mistry

    (Reuters) -Elf Beauty raised its forecasts for annual sales and profit on Wednesday, betting on its efforts to sell cosmetics such as lip oil and liquid blush at affordable price points in the U.S. and abroad, sending the company’s shares up 9% in extended trading.

    Customers, who have been hunting for lower-priced makeup and skincare products, have helped in boosting Elf’s sales in a challenging market where major beauty brands like Estee Lauder and L’Oreal have been wrestling to lift demand.

    Elf expects net sales in the range of $1.32 billion to 1.34 billion, compared with its prior forecast of $1.28 billion to $1.30 billion.

    The company’s strategy of introducing “dupes” of luxury cosmetics and pricing its products between $2 and $10 has further bolstered demand.

    The California-based company has expanded product offerings to mass retailers such as Walmart, Target and Amazon.com helping it reach a wider customer base in the United States.

    Elf is expanding into a subset of Dollar General stores in November, CEO Tarang Amin said on a post-earnings call, adding that it helps to tap a consumer base that only has access to some legacy mass brands.

    Net sales rose 40% to $301.1 million for the quarter ended Sept. 30, compared with analysts’ average estimates of $285.8 million, as per data compiled by LSEG.

    On an adjusted basis, it earned a profit of 77 cents per share, beating analysts’ estimates of 43 cents per share.

    It expects annual adjusted earnings per share between $3.47 and $3.53, up from its prior range of $3.36 to $3.41.

    Price increases in international markets such as India and Germany and cost-saving measures helped Elf grow its second-quarter gross margin by 40 basis points to 71%.

    Elf has a broad appeal across all income groups, Amin told Reuters, adding that the company’s “strategy is to have the highest quality at an accessible price or at an extraordinary price.”

    (Reporting by Anuja Bharat Mistry in Bengaluru; Editing by Shailesh Kuber)



    Source link

    Share this:

    • Click to share on Facebook (Opens in new window) Facebook
    • Click to share on X (Opens in new window) X

    Like this:

    Like Loading...

    Related

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    Previous ArticleIconic Revival: Ian Callum Brings Jaguar C-X75 Concept to Life as a Road Legal Supercar
    Next Article General American Investors announces dividends and stock buyback By Investing.com
    user
    • Website

    Related Posts

    What Does It Mean to Be Risk Neutral as an Investor?

    January 18, 2025

    SLB boosts dividend and buybacks, but warns of oil oversupply

    January 17, 2025

    Intel Stock Soars as Takeover Speculation Spreads

    January 17, 2025
    Add A Comment

    Leave a ReplyCancel reply

    © 2025 StockNews24. Designed by Sujon.

    Type above and press Enter to search. Press Esc to cancel.

    %d