Elf Beauty Raises Sales Guidance After Q2 Beat
Elf Beauty raised its annual sales guidance after reporting a fifty-one percent increase in second-quarter net sales. Strong international expansion and marketing drove the results.
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ELF BEAUTY INC raised its full-year sales guidance after net sales jumped 51% to $520.8 million, beating Wall Street expectations of $470.3 million. The cosmetics maker benefited from aggressive marketing campaigns and the international expansion of prestige brand Rhode across Europe. Net income reached $30.0 million on a GAAP basis, missing analyst estimates of $34.9 million.
