1845 ET - E.l.f. Beauty is flagging some softness in its sales performance with two of its longtime retail partners, Ulta Beauty and Target, CEO Tarang Amin says on a call with analysts. The indie cosmetics company, which until now had always highlighted the strength of its longest retail partnership with Target, remains the number one make up brand there, though. "We grew 170 basis points of share and Target even with a strong share position, so Target is not standing still," the executive says. Regarding its other distribution deals, Amin says Amazon is doing "extremely well," with Walmart being off to a good start in terms of comparatives. "We remain confident in our strategy, ability to take market share and capitalize on the white space ahead of us," Amin adds. Shares fall 24%, to $67.30, in post-market trading. (sabela.ojea@wsj.com; @sabelaojeaguix)
(END) Dow Jones Newswires
February 06, 2025 18:45 ET (23:45 GMT)
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