06 Nov 2023 --- In beauty industry financial news updates, ELF Beauty and Ashland have released their second quarter results and preliminary outlook for fiscal fourth-quarter performance, respectively. Among strategic moves to narrow focus on high-growth segments, Ashland is offloading its nutraceuticals arm to pivot focus on personal care, while ELF forecasted fiscal impacts resulting from its plans to acquire skin care brand Naturium. For the six months ended September 30, 2023, compared to the same period of last year, ELF Beauty’s net sales were reported to have increased 76% to US$215.5 million, primarily driven by strength in both retailer and e-commerce channels.
