E.l.f. Beauty on Wednesday blew past Wall Street expectations as it posted a 51% increase in net sales in its second fiscal quarter
By FrontRow
The beauty company said it saw its 31st consecutive quarter of net sales growth, attributing the streak to strong performance across its portfolio. The revenue spike was driven by both retail and e-commerce channels across the U.S. and internationally, the company added. "The thing I'm most pleased about is we saw strength across our entire portfolio," CEO Tarang Amin told CNBC in an interview. "Every one of our brands contributed strong growth this quarter." Amin added that E.l.f. is the most-searched brand on TikTok Shop and the No. 2 brand in cosmetics on the platform. The company also said it saw strong results for Rhode, the skincare brand it acquired last year.
