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00:02Elf Beauty raised its full-year sales growth forecast to between 22% and 24%,
00:08up from its previous outlook of 18% to 20%, according to Reuters.
00:13The cosmetics company reported a 51% increase in quarterly sales to $520.8 million,
00:21beating Wall Street expectations of $470.3 million.
00:25Growth was driven by U.S. and international retail and e-commerce sales.
00:31Elf expects continued demand from its marketing campaigns and international expansion of its
00:35Road brand.
00:36Road recently expanded to 19 European countries through Sephora stores.
00:41Elf also reinvested $52 million in tariff refunds into marketing and price reductions on about
00:4710% of its products.
00:49Net income missed expectations, while gross margin rose to 71%,
00:54topping analysts' estimates.
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