The cosmetics company, known for its viral TikTok marketing and middle-of-the-road pricing, saw sales jump 76% compared with the prior year.
The cosmetics company, known for its viral TikTok marketing and middle-of-the-road pricing, also saw profits nearly triple compared with the year-ago period.$215.5 million vs. $197.1 million expected
E.l.f. previously expected sales to be up between 37% and 39% to between $792 million and $802 million. When asked what drove sales, Amin told CNBC it was"Our value equation, the ability to make prestige quality at these extraordinary prices, our holy grail innovation, taking inspiration from both prestige and our community, and having products consumers can't seem to get enough of."
"We're quite bullish about the future and particularly in terms of how we're positioned," said Amin, who got his start working for consumer product companies such as Procter & Gamble and Clorox."We've doubled our market share in the last three years, and I feel we can double our market share again over the next few years."
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