E.l.f. Beauty's profits fall 30% as China tariffs weigh on bottom line

E.L.F. cosmetic products are seen for sale in a store in Manhattan, New York City, U.S., June 29, 2022.E.l.f. Beauty's profits fell 30% in its fiscal first quarter as new tariffs on Chinese imports begin to impact the cosmetic company's bottom line.In the three months ended June 30, E.l.f.'s net income fell to $33.3 million, down 30% from $47.6 million a year ago. The company, which sources about 75% of its products from China, also declined to provide a full-year revenue guide, citing the "wide range of po ...