Elf Beauty tells CNBC of rolled back prices amid demand drop

Elf Beauty (ELF) CEO Tarang Amin told CNBC that the company will walk back some of its tariff-driven price increases given a pullback in demand. “Whenever you take a price increase that’s that big, you’re going to see unit degradation, but I would say we’ve seen units drop off a bit more in the last few months as consumers have particularly been suffering with higher costs. So it’s one of the reasons why we want to reinforce the value proposition we have…There’ll be additional items that we will test lower pricing on to really be able to reinforce our value proposition at a time when the consumer is suffering.” Elf Beauty shares are up 5% to $50.72 in after-hours trading following the company’s Q4 report.