The cosmetics industry is grappling with a combination of challenges, including potential fallout from tariffs, softening demand, and decreased online attention. Estee Lauder announced job cuts, while E.l.f. Beauty missed earnings expectations and lowered its sales guidance. Shares of Ulta Beauty and Coty also declined this week.
Shares of Ulta Beauty and Coty also were under pressure this week as the broader sector grappled with the potential fallout from tariffs.E.l.f. closed out its worst week since August 2018, with shares cratering nearly 29% over the five-day period. The cosmetics brand on Thursdaya revenue beat for its fiscal third quarter, but missed on adjusted earnings per share and cut its full-year guidance to between $1.3 billion and $1.31 billion in sales, down from a prior range of between $1.
CEO Tarang Amin told CNBC in an interview around the results that the cosmetics sector broadly declined 5% in January, which he attributed to a hangover from holiday discounting and a decrease in online attention to beauty products.Analysts from Morgan Stanley, D.A. Davidson and UBS all downgraded the stock to neutral or equal weight following the report, citing the cut guidance.
On E.l.f. Beauty's earnings call Thursday, Amin said the company saw"a little bit of softness" at Ulta, one of the brand's retailers, in January.L'Oreal looks to U.S. 'land of opportunity' as China disappoints
Cosmetics Tariffs Demand Sales Industry
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