E.l.f. Beauty (ELF) 4Q 2020 earnings boosted by online sales

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elf makeup products

Source: e.l.f.

Shares of E.l.f. Beauty surged more than 5% in extended trading Thursday after the cosmetics company said sales rose 13% in the fourth quarter, helped by the strength of its online business.  

The beauty industry has been hard hit as social restrictions around Covid-19 have largely suspended in-person activities. However, E.l.f. Chairman and CEO Tarang Amin said the company’s focus on its online marketplace allowed it to outperform in the face of a broader industry slowdown. 

“We’ve taken up our investment levels on both marketing and digital and it’s just been really great consumer engagement,”

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Glow at home: Beauty industry remakes product pitches in the age of coronavirus

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(Reuters) – Out: smoky eyes, red lipstick and fake eyelashes. In: dewy skin, under-eye concealer, moisturized hands.

Model Emily DiDonato gives a makeup tutorial in a Maybelline YouTube video April 19, 2020. YouTube/Handout via REUTERS

The $500 billion global beauty industry has almost overnight changed what and how it markets to a clientele hidden behind masks or stuck at home to avoid the spread of coronavirus.

As consumers’ social and travel plans have evaporated and work is conducted online, beauty brands have had to quickly redirect their pitches to show how their products are still relevant.

Companies are promoting make-up

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