E.l.f. Continues To Win With Value Pricing, Youth Appeal; 33% Growth In Second Quarter
The firm is targeting 22%-24% net sales growth for the fiscal full year ended 31 March 2023 after reporting its 15th consecutive quarter of growth.
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Oakland, CA-based e.l.f. Beauty is significantly increasing its full fiscal year 2023 sales estimate, predicting 38%-39% growth after third quarter sales soared 49% to reach $146.5m. CEO Tarang Amin discusses the white space opportunities contributing to a bullish outlook even beyond the fiscal year.
Estee Lauder Companies says fiscal 2023 second-quarter sales will decline high double digits due to ongoing COVID-19 restrictions in China, tightening inventory by some US retailers, and a strong US dollar. The firm expects improvement in the back half of the year, but has adjusted full-year guidance.
P&G reported 7% organic and 1% net sales growth in latest quarter to $20.6bn. Analysts projected organic growth of 5.5% and saw results as indicator firm’s execution strategy, which includes cutting back on costs, is working.