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    Savanna ChaudharyJPMorgan Chase & Co.

    Savanna Chaudhary's questions to elf Beauty Inc (ELF) leadership

    Savanna Chaudhary's questions to elf Beauty Inc (ELF) leadership • Q2 2025

    Question

    Savanna Chaudhary, on behalf of Andrea Teixeira, asked about the sell-in versus sell-out dynamics in the U.S. excluding Naturium, and for details on the Dollar General launch, including door count and the timing of its financial impact.

    Answer

    CFO Mandy Fields stated there are no significant sell-in/sell-out imbalances, as e.l.f.'s high productivity requires retailers to consistently reorder to meet demand. CEO Tarang Amin clarified that the Dollar General launch in November will be in a 'subset' of the chain's doors, allowing the company to assess performance before considering further expansion. The impact is included in the updated guidance.

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