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Sep 30, 2020
e.l.f. Q2 2021 Earnings Report
Reported a 7% increase in net sales and a 100 basis points expansion in gross margin.
Key Takeaways
e.l.f. Beauty announced its Q2 Fiscal Year 2021 results, showcasing a 7% increase in net sales and a gross margin expansion of 100 basis points. The company's commitment to inclusive, accessible, and cruelty-free beauty continues to resonate with consumers, marking the seventh consecutive quarter of net sales growth.
Net sales increased by 7% to $72.4 million compared to the same period last year.
Gross margin increased by 100 basis points to 65%.
e.l.f. was the only top five color cosmetics brand in the U.S. to post growth and gain market share.
The company unveiled Keys Soulcare and launched its recharged W3LL PEOPLE brand.
e.l.f.
e.l.f.
Forward Guidance
The Company is providing the following outlook for fiscal 2021. When compared to net sales in fiscal 2020, the outlook for fiscal 2021 reflects an expected 5-7% increase in net sales.
Positive Outlook
- Net sales are expected to increase by 5-7% compared to fiscal 2020.
- Digital strength
- Core value proposition
- Continued execution of strategic imperatives will fuel our performance
- The company believes it has better visibility for the balance of its fiscal year
Challenges Ahead
- Uncertainty remains related to the duration and potential impact of the COVID-19 pandemic
- Uncertainty related to the overall economic environment
- Expect consumer behavior to be impacted by COVID-19 through the rest of our fiscal year
- Guidance assumes no significant disruption to its consumers
- Guidance assumes no significant disruption to its customers or supply chain for the remainder of fiscal 2021