Why e.l.f. Beauty Stock Sparkled This Week
Shares of e.l.f Beauty (NYSE: ELF) erased some of their year-to-date losses this week. The makeup products stock rose 13% through Thursday trading, according to data provided by S&P Global Market Intelligence, easily beating the 4.3% surge in the S&P 500.
That broad market rally played a role in e.l.f Beauty's stock price spike. However, the bigger factor was the cosmetic specialist's Wednesday earnings report that showed improving operating and financial trends.
Sales rose 40% to cross $300 million, on strength in both the U.S. and international markets, the company revealed late Wednesday. E.l.f Beauty gained market share in its fiscal Q2 period and extended its record of sales growth to 23 consecutive quarters. Executives credited the popular assortment of color cosmetics and skincare products that helped keep consumers engaged with the brand. "We ... believe our unique areas of advantage will fuel our ability to win in fiscal 2025 and beyond," CEO Tarang Amin said in a press release.
Source Fool.com
