Elf Beauty Boosts Sales Forecast, Meeting Demand For Quality Alternatives To Luxury Products

Elf Beauty raised its full-year sales and profit forecasts, driven by strong demand for affordable cosmetics. The company's shares rose 9% in extended trading as customers seeking budget-friendly options boosted sales in a market where luxury brands like Estee Lauder and L'Oreal struggle to maintain demand. The brand's dupes strategy, offering quality alternatives to luxury products, has fueled consumer interest. Its reach has expanded across major retailers like Walmart, Target, and Amazon, with a November rollout in select Dollar General stores.