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eCommerce Powers e.l.f. Beauty’s Net Sales Surge

eCommerce Powers e.l.f. Beauty’s Net Sales Surge

May 27, 2021 at 03:15PM
by PYMNTS

e.l.f. Beauty reported that net sales surged by 24 percent to $92.7 million for Q4 fiscal 2021, mainly fueled by “strength in eCommerce, international and our national retailers,” according to an announcement.

“Our fourth-quarter net sales growth of 24 percent marked our ninth consecutive quarter of growth. For the year, e.l.f. Cosmetics was the only top five U.S. color cosmetics brand to post growth and gain share,” e.l.f. Beauty’s Chairman and CEO Tarang Amin said in the announcement.

e.l.f. Beauty reported that selling, general and administrative (SG&A) expenses climbed $10.8 million to $57.8 million or 62.4 percent of net sales. The cosmetics company reported that gross margin fell roughly 110 basis points to 63.2 percent. As for its overall results, e.l.f. Beauty posted 16 cents in adjusted diluted earnings per share.

e.l.f. Beauty said it is anticipating net sales to be between $343 million and $350 million for fiscal 2022, while it anticipates adjusted diluted earnings per share to be between 64 cents and 67 cents.

“We’re pleased with our outstanding results and believe that we can continue our business momentum in fiscal 2022 as we advance our transformation to a multi-brand portfolio,” e.l.f. Beauty CFO Mandy Fields said in the announcement.

The news comes as Sally Beauty Holdings, which operates about 5,000 stores, reported that its Q2 consolidated same-store sales increased by 6.5 percent as its net sales also climbed amid a rise in domestic consumer demand.

“In the U.S., we saw an acceleration in consumer demand in the latter part of the quarter, which drove a net sales increase of 6.3 percent,” Sally Beauty Holdings President and CEO Chris Brickman said in an earnings press release earlier in May.

The firm reported $542.7 million in net sales for the quarter for the Sally Beauty Supply segment. It reported $383.7 million in net sales for the Beauty Systems Group segment. As for its overall results, the firm reported $65.5 million in adjusted net earnings.