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E.l.f. Beauty CEO Tarang Amin refuted allegations from short seller Muddy Waters, which claimed the company overstated revenue and inventory. Amin emphasized the company's 23 consecutive quarters of growth and strong market share, asserting that the accusations are unfounded and aimed at manipulating stock prices. He noted that E.l.f. has increased inventory to meet rising demand, particularly internationally, despite challenges faced by competitors in the beauty industry.
Walmart"s CFO, John David Rainey, indicated that the retailer may need to raise prices on some items if proposed tariffs by President-elect Trump are implemented, despite the company"s commitment to everyday low prices. While two-thirds of Walmart"s products are domestically sourced, the potential tariffs could still lead to inflationary pressures on consumers. Other retailers, like Lowe"s, are also preparing for increased costs due to these tariffs, which could impact their supply chains significantly.
E.l.f. Beauty reported a 40% sales increase, raising its full-year revenue guidance to $1.32-$1.34 billion, surpassing analyst expectations. The company posted adjusted earnings of 77 cents per share, significantly above the anticipated 43 cents, and plans to expand shelf space in Target and Walgreens. CEO Tarang Amin highlighted the brand's appeal across generations, attributing success to its value-driven strategy and innovative product offerings.
Tarang Amin
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e.l.f. Beauty CEO refutes short seller's fraud claims amid growth assertions
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01:23 22.11.2024
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15:58 19.11.2024
e.l.f. Beauty reports 40 percent sales growth and raises revenue guidance
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22:05 06.11.2024
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