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

spike

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,”

Read More