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Jun 30, 2020
e.l.f. Q1 2021 Earnings Report
Delivered 8% net sales growth and 500 basis points gross margin expansion and gained 100 basis points of Nielsen market share in U.S. color cosmetics.
Key Takeaways
e.l.f. Beauty announced strong Q1 fiscal 2021 results with net sales increasing by 8% and gross margin expanding to 67%. The company also announced a new lifestyle beauty brand with Alicia Keys.
Net sales increased 8% to $64.5 million compared to $59.8 million in the three months ended June 30, 2019.
Gross margin increased to 67% from 62% when compared to the three months ended June 30, 2019.
Net income was $1.5 million, or $0.03 per diluted share.
The Company is partnering with Alicia Keys to create a new lifestyle beauty brand.
e.l.f.
e.l.f.
Forward Guidance
The Company continues to expect sales trends and the economy overall to remain challenged for the next several months and is continuing to suspend guidance for fiscal year 2021.
Positive Outlook
- Digital strength
- Core value proposition
- Strong portfolio of brands
- Positioned for long-term growth
- Consumer behavior normalizes post-COVID
Challenges Ahead
- Sales trends remain challenged
- Economy remains challenged
- Uncertainty around the timing of recovery from COVID-19
- Speed of recovery from COVID-19 is uncertain
- Duration of recovery from COVID-19 is uncertain