Elf Beauty raised its full-year sales and profit forecasts, driven by strong demand for affordable cosmetics. The company's shares rose 9% in extended trading as customers seeking budget-friendly options boosted sales in a market where luxury brands like Estee Lauder and L'Oreal struggle to maintain demand. The brand's dupes strategy, offering quality alternatives to luxury products, has fueled consumer interest. Its reach has expanded across major retailers like Walmart, Target, and Amazon, with a November rollout in select Dollar General stores.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Elf Beauty raised its full-year sales and profit forecast,
00:05driven by strong demand for affordable cosmetics.
00:08The company's shares rose 9% in extended trading as customers seeking budget-friendly options
00:13boosted sales in a market where luxury brands like Estee Lauder and L'Oreal
00:17struggled to maintain demand.
00:19The brand's dupe strategy, offering quality alternatives to luxury products,
00:23has fueled consumer interest.
00:26Its reach has expanded across major retailers like Walmart, Target, and Amazon,
00:30with a November rollout in select Dollar General stores.
00:32For all things money, visit Benzinga.com slash GSTV.