Online shopping has taken over the world. And while it's created a world of convenience for us, it's taken storefronts away one by one. E.L.F. Cosmetics is the latest brand to fall victim to the digital curse.
By March, the beauty favorite will close all 22 of its brick-and-mortar stores to focus on expanding its digital presence, and we're really not sure how to feel. No more in-store swatching? Walking out with a brand-new beat? But before you freak out, the products aren't going anywhere anytime soon, and they're still available to you.
It's with heavy hearts that we announce that E.L.F. has announced the closure of all of its brick-and-mortar stores.
The makeup and skin-care favorite will close all 22 of its stores — in-store sales accounted for only 5% of the brand's sales in 2018. And though the brand will still be available online, it doesn't lessen the blow of one not being able to walk into an E.L.F. store ever again.
The closures are a way for the brand to focus and expand its digital platforms.
With the vast majority of sales coming strictly from online sales, it's not expected that the brand will take a large hit. According to Chain Storage, E.L.F.’s net income totaled $9.6 million, or 20 cents per share, down from $21.5 million, or 44 cents per share, in the year-ago period. Adjusted EPS was 30 cents, beating analysts’ estimates of 21 cents.
The brand is also on the hunt for a new CFO.
Current CFO John Bailey will step down from his role on March 31, 2019. The company is actively teaming up with a national search firm to find someone new to fulfill the role. Bailey’s responsibilities as chief financial officer will be taken on by CEO Tarang Amin and members of the executive team.
But don't lose hope for the brand as whole!
There is no word that any products will be scaled back, and the website is still up and thriving. You'll surely continue to see E.L.F. products in the aisles of drugstores. But in the meantime, we can wipe up our tears and indulge in a little retail therapy.
In honor of the store closings, shop our favorite E.L.F. products below.
16-Hour Camo Concealer ($5, E.L.F. Cosmetics)
This full-coverage, 16-hour-wear concealer features a large doe foot applicator to conceal, correct, contour, and highlight for flawless skin. The highly pigmented formula is lightweight, dries matte, and won't settle into fine lines or creases. It's ideal for all skin types.
Flawless Finish Foundation ($6, E.L.F. Cosmetics)
The Flawless Finish Foundation is E.L.F.'s best-selling liquid foundation! The lightweight, oil-free formula blends naturally into skin for a beautiful semi-matte finish that lasts all day long. The liquid formulation restores uneven skin textures and tones for visibly brighter skin.
Hello Hydration Face Cream ($12, E.L.F. Cosmetics)
This is your next holy grail skin cream! This ingredient-driven moisturizer helps brighten and even out skin tone, lock in moisture, and promote a plumped up, bouncy complexion for just $12! Packed with skin-loving ingredients, this nourishing yet lightweight cream instantly sinks into the skin for a smooth, non-greasy feel and soft, supple skin.
Contour Palette ($6, E.L.F. Cosmetics)
Sculpt, shade, and brighten with this four-shade powder contour palette. It’s customizable to match your skin tone and is infused with vitamin E. Get a gorgeous, nourished complexion all day!
Beauty Shield Magnetic Mask ($24, E.L.F. Cosmetics)
Lift away surface impurities with this innovative Magnetic Mask Kit that uses an iron-based formula and magnetic tool to help extract impurities, brighten skin, and minimize the appearance of pores. The formula is infused with key antioxidants, Carrot Seed Oil, Sunflower Seed Oil, Vitamin C, Vitamin E, and Argan Oil to help replenish the skin. Skin is left feeling clean, soft, and recharged.
Baked Highlighter ($4, E.L.F. Cosmetics)
This highlighter creates a radiant glow with a sheer wash of shimmering color. It's infused with vitamin E and hydrating jojoba, rose hip, sunflower, apricot, and grape oils to nourish your skin. The highlighter can be applied wet for a vibrant effect, or dry for sheer pigmentation.
