E.L.F. Beauty H1 Sales Skyrocket, Triples Profit Margin — Retail Bum

E.L.F. Beauty saw its second-quarter net sales increase by 76% to $215.5 million, with the company observing strong demand across its retail and eCommerce channels.

For the first half of the year, the company saw its net income rise to $86.2 million, marking a significant improvement over the $26.2 million the company reported in the same period a year ago. And in the second quarter, the company saw its net income rise to $33.3 million, up from $11.7 million in the same quarter last year.

Meanwhile, the company’s profit margin grew nearly threefold compared to the year-ago period.

The beauty retailer, which is today best known for its affordable pricing options and viral TikToks, benefitted from a 75% increase in digital sales during the quarter, while sales in international markets rose 157% year over year. Demand for the brand’s skincare line was also up by more than 100%.

“We continue to deliver exceptional, consistent, category-leading sales growth,” said E.L.F. Beauty Chairman and Chief Executive Officer Tarang Amin.

“In Q2, we grew net sales by 76% and category share by 330 basis points, marking our 19th consecutive quarter of growth in each. As we look ahead, the significant whitespace we see across color cosmetics…