E.l.f. Beauty raised its full year guidance after posting a 40% jump in sales.
E.l.f. Beauty grew sales by 40% in its second fiscal quarter, leading it to raise its full year earnings and sales guidance.
The cosmetics company has been on a tear over the past couple of years thanks to its viral marketing and its prowess in winning over young shoppers with its value versions of prestige favorites. Tang attributed the increase in margin to favorable foreign exchange rates, previously enacted price increases internationally and its overall value proposition.
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