e.l.f. Beauty Announces Change to Fiscal Year
December 13 2018 - 4:15PM
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20181213005807/en/
Investor Relations:
Investors:Willa McManmon, Ellipsis(646) 776-0886
Media:Alecia Pulman, ICR, Inc.(203) 682-8200
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