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In its first fiscal quarter since President Donald Trump’s tariffs were announced, cosmetics company E.l.f. Beauty
reported a 30% decline in net income, causing its shares to fall nearly 11% the day after its earnings report. E.l.f. is sourcing 75% of its products from China.
Yet the company’s CEO, Tarang Amin, said he’s focused on E.l.f.’s 26 consecutive quarters of net sales growth, the company’s international and retail expansions, and the new $1 billion acquisition of Hailey Bieber’s popular skincare brand, Rhode.
“We’ve been able to prove people wrong for 26 straight quarters,” said Amin. “So we’re not worried about any short-term stock reaction,” he said.
