** Shares of cosmetics company Elf Beauty ELF.N down ~19% at $71.30 in extended trade
** Company lowers annual net sales forecast to $1.30 bln to 1.31 bln from prior target of $1.315 bln to 1.335 bln on softer than expected sales in mass beauty channels in January, as demand weakens
** Also lowers annual adj. EPS target to $3.27 to 3.32 from $3.47 to 3.53
** Q3 net sales of $355.3 mln tops estimates of $329.67 mln, according to data compiled by LSEG
** A little less than 80% of company's manufacturing now happens in China, compared with 100% five years ago. We'll use a balance plan to overcome tariffs - ELF CEO Tarang Amin tells Reuters
** Beauty giant Estee Lauder EL.N said this week it would cut more jobs as it tackles a downturn in demand, particularly in the Asia travel retail business
** In 2024, ELF stock fell 13%
(Reporting by Juveria Tabassum in Bengaluru)
((Juveria.Tabassum@thomsonreuters.com;))
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