OAKLAND, Calif. -- (Business Wire)
e.l.f. Beauty (NYSE:ELF) (the “Company”) today announced that its Board
of Directors has approved a change in the Company's fiscal year from the
twelve months beginning January 1 and ending December 31 to the twelve
months beginning April 1 and ending March 31. The Company plans to file
a transition report on Form 10-QT for the transition period from January
1, 2019 to March 31, 2019. The Company’s fiscal year 2020 will begin
April 1, 2019 and end March 31, 2020.
The Company’s largest national retailer customers, Walmart and Target,
reset their cosmetics shelves annually in February or March. By changing
the fiscal year start, the Company will be better able to assess the
initial performance of these resets when setting annual guidance.
The Company plans to provide financial guidance for the transition
period when it announces its full year 2018 results. The Company will
provide financial guidance for the fiscal year ending March 31, 2020
when it announces its results for the transition period.
About e.l.f. Beauty
e.l.f. makes luxurious beauty accessible for all. Established in 2004 as
an e-commerce business (www.elfcosmetics.com),
e.l.f. has become a true multi-channel brand through its e.l.f. stores
and national distribution at Target, Walmart, Ulta Beauty and other
leading retailers. As one of the most innovative beauty companies in the
United States, e.l.f. engages young, diverse beauty enthusiasts by
offering high-quality, prestige-inspired cosmetic and skin care products
at extraordinary value.
Learn more about e.l.f. at www.elfcosmetics.com
or follow us on Instagram (@elfcosmetics)
or Twitter (@elfcosmetics).
Forward-looking statements
This press release contains forward-looking statements within the
meaning of the federal securities laws, including those statements
relating to the Company’s change in its fiscal year end and the
Company’s expectation that it will be better able to assess initial
performance of shelf resets at Walmart and Target when setting annual
guidance. These forward-looking statements are based on management's
current expectations, estimates, forecasts, projections, beliefs and
assumptions and are not guarantees of future performance. Although the
Company believes that the expectations reflected in the forward-looking
statements are reasonable, actual results and the timing of selected
events may differ materially from those expectations. Factors that could
cause actual results to differ materially from those in the
forward-looking statements include, among other things, the risks and
uncertainties that are described in the Company's most recent Annual
Report on Form 10-K, as updated from time to time in the Company's SEC
filings. Potential investors are urged to consider these factors
carefully in evaluating the forward-looking statements. These
forward-looking statements speak only as of the date hereof. Except as
required by law, the Company assumes no obligation to update or revise
these forward-looking statements for any reason, even if new information
becomes available in the future.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181213005807/en/
Contacts:
Investor Relations:
Investors:
Willa McManmon, Ellipsis
(646) 776-0886
Media:
Alecia Pulman, ICR, Inc.
(203) 682-8200
Source: e.l.f. Beauty
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