E.l.f. Cosmetics Bold Amid Recession Fears, Forecasting Net Sales Growth Up To 12% In FY 2023

The Gen Z-beloved maker of prestige-inspired cosmetics and skin care at accessible prices has been experiencing strong sales growth in Target stores, increased business online, and remains confident in its prospects even after recently raising products on two-thirds of its portfolio in response to inflationary pressures.

Market Share Growth

E.l.f. Cosmetics, Inc. says consumption and market share growth of its products despite broad price hikes has it bullish on fiscal year 2023, with double-digit sales growth expected each quarter and full year net sales up 10% to 12%.

“We’re the only top-five brand to grow share above pre-pandemic levels by a wide margin,” chairman and CEO Tarang Amin...

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