Retail

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

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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,” said Amin in an interview. “Our e.l.f cosmetics dotcom…



Source cnbc.com

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