Elf Beauty forecasts lower annual sales and profit, attributing it to higher tariff costs and cautious consumer spending. The company expects over $50 million in annual costs from U.S. tariffs in fiscal 2026, impacting its gross margin and operations. Elf plans to mitigate tariffs through supply chain streamlining and diversification. CEO Tarang Amin noted a lack of big product launches this year compared to previous successful lip oils. The company’s full-year net sales forecast is below analysts’ estimates, with adjusted profit also expected to fall short. Elf’s quarterly sales and profit missed expectations, causing shares to drop by 26% in extended trading.

Read more at Yahoo Finance: Elf Beauty slumps as tariff costs, muted consumer spending hit annual forecasts