e.l.f Beauty has released the results for first quarter 2017, the three month period that ended on March 31, 2017.
The company saw net sales reach $60.6 million, a 15% increase (7.9 million) from first quarter 2016 which saw sales reach $52.7 million. It attributes the increase to sales growth across leading national retailers and the company’s direct business.
Tarang Amin, chairman and CEO of e.l.f. Beauty, stated, “We are pleased to report a strong start to the year as e.l.f. grew net sales by 15%, expanded gross margin nearly 750 basis points, and made progress toward our mission to make luxurious beauty accessible for all. This performance is notable given the significant amount of shipments to customers for shelf resets in Q1 2016.”