e.l.f. Beauty, Relatively Unscathed by COVID-19, Says Its 2020 Guidance Is Still Valid
Shrugging off the worst effects of the coronavirus pandemic, e.l.f. Beauty (NYSE: ELF) said today it's standing by its fiscal 2020 guidance, issued on Feb. 5. The cosmetics, beauty, and personal care company stands in stark contrast to numerous other consumer goods enterprises, which have withdrawn their guidance in the face of coronavirus-related economic disruption and either scheduled new guidance for a later date or postponed the information indefinitely.
e.l.f. Beauty said earlier this year its highly developed online retail and social media presence, combined with the location of its facilities well away from major outbreak areas in China and a six-month inventory moat, would help it avoid the pandemic's worst effects. These claims appear to be borne out by its current market strength.
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