CLAIM #1125 · ELF Beauty Inc (ELF) · 2023Q3 earnings call · Feb 1, 2023 · due Mar 31, 2023
“So they will have some periodic new items that we'll be looking to chase, but overall, we remain highly confident in terms of our ability to meet the demand that we're seeing.”
Tarang Amin · CEO
In context
“downs in China, we've been able to meet the strong consumer demand we've seen in the last quarter. Our in-stock levels remained above 95%, which I think speaks to even a 49% growth quarter, our ability to meet that demand. And so I feel really good about our overall production and capacity. Now there will be some out of stocks on certain viral sensations. We spent a lot of time this last year kind of chasing the success of Halo Glow. It seemed like every time we took that forecast up, we saw even greater sales. We talked about our Power Grip Primer, which is not only our #1 SKU, but the #2 SKU across the entire category. And then important to note, it's not only the #1 primer in mass, but it's also the #1 primer in prestige. So that's an item that I think we're going to also be chasing. So they will have some periodic new items that we'll be looking to chase, but overall, we remain highly confident in terms of our ability to meet the demand that we're seeing. Operator: Our next question comes from Andrea Teixeira with JPMorgan. Please go ahead. Andrea Teixeira: Thank you. My question, Tarang, is exactly what you just described and how you're able to keep up with Power Grip and Halo Glow and even Poreless Putty Primer in the past. So in terms of like just – perhaps, giving us a little bit more of details on how the execution and your ability to have in-stocks going forward? And then related to that, you have a lot of white space, not only as you pointed out, the three subcategories, lip and mascaras and skin, so wondering like the cadence of that of that set up, can you give us an idea if most of these new shelf resets will carry those new products? And how the cadence as we go into fiscal '24 will shape? Thank you and congrats again on the n”
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SEC filings for ELF ↗ · Claim quote is verbatim from the 2023Q3 earnings call.