E.l.f. Beauty CEO Tarang Amin attributed a dip in January sales to an industry-wide 'consumer hangover' following a promotional holiday season. He also cited a decrease in social commentary about the brand, potentially linked to current events like the Los Angeles wildfires and TikTok's uncertain future. Despite these challenges, Amin remains optimistic about the company's prospects and outlined strategies to mitigate the impact of tariffs and economic concerns.
E.l.f. Beauty CEO Tarang Amin told CNBC's Jim Cramer why the company saw lighter business in January, citing declines across the industry and saying some new products have been off to a slower start.
"I remain bullish on the business," he said."But our approach is always, we have a high degree of transparency. If we see something, we pass it through."its full-year guidance after"softer than expected" sales trends in January – a shift in tone for the company that has otherwise escaped the business woes felt by many of its peers. The stock tanked more than 24% in extended trading.
In general, Amin continued, E.l.f. feels satisfied with its marketing efforts, saying they have always been able to"engage and entertain our community." He added that the company debated spending a bit more on marketing because it's effective, but ultimately decided to hold off for now as consumers continue to worry about inflation and the economy.Amin also addressed President Donald Trump's tariff hikes.
CONSUMER BEHAVIOR TARIFFS MARKETING ECONOMY BEAUTY INDUSTRY
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