Fri, 07 Feb 2025

Fri, 07 Feb 2025 Beauty stocks post major losses after a week of worrying results

Several beauty stocks tanked this week, as companies such as E.l.f. Beauty and Estee Lauder reported disappointing earnings and cut guidance.

* E.l.f. Beauty shares plummeted nearly 29% over the five-day period, marking its worst week since August 2018.
* The company reported a revenue beat for its fiscal third quarter but missed on adjusted earnings per share and cut its full-year guidance to between $1.3 billion and $1.31 billion in sales.
* Estee Lauder shares fell 22% on the week, marking that stock's worst week since November.
* The company plans to cut between 5,800 and 7,000 jobs by the end of fiscal 2026 due to softening travel retail demand in Asia.
* Ulta Beauty and Coty also experienced significant losses, with shares trimming 9% and nearly 8%, respectively, on the week.
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