“While still early, price elasticity is better than expected, underscoring the power of our brands.”

In context

“e above pre-pandemic levels by a wide margin. Before I detail our recent accomplishments, I want to briefly touch on a few topics that are likely top of mind. First, on category outlook and our guidance: We remain bullish on the mass cosmetics category. Overall, trends have improved, and in recent weeks are positive on both a one and two year basis as consumer usage occasions increase. More importantly, we remain optimistic about our ability to continue to gain share. Our consumption trends are strong, giving us the confidence to issue initial guidance at the 10% to 12% net sales growth for the year, with double digit growth expected in each quarter. Second, on price increases: We increased prices on a majority of e.l.f. SKU and select Keys Soulcare and W3LL PEOPLE products in mid-March. While still early, price elasticity is better than expected, underscoring the power of our brands. Third, on supply chain: Like many companies, we face additional COVID restrictions in China where our products are manufactured. While the situation remains dynamic, I feel great about how our team has responded. We continue to ship product despite the recent lockdowns. We’ve successfully navigated a variety of supply chain challenges throughout the years, and expect to do so in fiscal ‘23. Over the past three years I’ve provided proof points on the relentless execution of our five strategic imperatives and the growth it has driven. Today, I want to take a step back and talk through our strategic framework and key areas of competitive advantage. e.l.f. was born to disrupt, it’s in our DNA. We were founded 17 years ago with the idea of selling premium quality cosmetics for $1 over the Int”