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E.l.f. Beauty to walk back some tariff price increases amid high gas prices and consumer ‘suffering’

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E.l.f. Beauty to walk back some tariff price increases amid high gas prices and consumer ‘suffering’


E.l.f. Beauty is planning to walk back some of the tariff-fueled price increases it implemented less than a year ago after the retailer has seen a slide in demand that’s ramped up in recent months as consumers contend with higher gas prices.

“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,” CEO Tarang Amin told CNBC in an interview. “So it’s one of the reasons why we want to reinforce the value proposition we have.” 

Recently, E.l.f. tested a $4 price reduction on its $18 Halo Glow skin tint and saw a nearly 40% lift in the business, which signaled to the company just how “sensitive” consumers are on pricing right now, Amin said. 

As a result, it plans to test additional price reductions on certain families of products to see if that will drive unit growth. Last August, it raised prices by $1 across its entire E.l.f. assortment.

“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,” Amin said. 

E.l.f. unveiled plans to lower prices came as the company announced fiscal fourth-quarter earnings Wednesday that beat Wall Street’s expectations on the top and bottom lines but issued guidance that failed to wow. 

Here’s how the beauty retailer performed during the quarter compared with what Wall Street was anticipating, based on a survey of analysts by LSEG:

  • Earnings per share: 32 cents adjusted vs. 29 cents expected
  • Revenue: $449 million vs. $423 million expected

E.l.f. stock rose roughly 7% in after-hours trading on Wednesday.

In the three months ended March 31, E.l.f. posted a loss of $49.4 million, or 82 cents per share, compared with income of $28.3 million, or 49 cents per share, a year earlier. 

E.l.f’s loss was primarily driven by a $57.6 million cost associated with its acquisition of Rhode that the company incurred under the terms of the deal following better-than-expected performance from the brand. Excluding that charge and other one-time expenses, E.l.f. saw net income of $19.4 million, or 32 cents per share. 

Sales rose to $449 million, up about 35% from $332.6 million a year earlier.

During the quarter, E.l.f. saw its gross margin grow by 1.4 percentage points to 73% — thanks in large part to the higher pricing that the company is now in the process of walking back for some products. When asked what those reductions will mean for margins moving forward, Amin said the company is expecting a $55 million tariff refund, which will offset the impact to profitability. 

Still, the company’s fiscal 2027 guidance came in weaker than expected. E.l.f. said it’s expecting sales of between $1.84 billion to $1.87 billion, which is primarily below expectations of $1.87 billion, according to analysts surveyed by LSEG. 

The profitability picture looks worse. The company said it’s expecting adjusted earnings per share to be between $3.27 and $3.32, well below expectations of $3.61 per share. 

“I’m really proud of the profitability we just delivered that was in the face of 55% tariffs, so the team’s done a really nice job navigating through a pretty crazy tariff environment,” Amin said. “For the year ahead, we’ve guided to gross margins being flat, which we also think is quite strong in the environment we’re operating in. We still have tariffs that we’re facing at the 35% level, which is what we’ve modeled for the year, and then continued the retail expansion of Rhode.” 

Since its acquisition of Rhode, announced about a year ago, the celebrity beauty brand has been the primary engine behind E.l.f.’s overall growth. Over the past year, sales have grown 80%, fueled by its expansion into Sephora North America, Sephora UK and Mecca. Rhode now has the No. 1 brand position in all three retailers. 

This fall, Rhode is expected to launch in 19 European countries with Sephora so there’s still a “huge amount of white space” for the brand, Amin said.

In years past, E.l.f.’s growth was primarily driven by ultrapopular product launches. With Rhode now driving growth, it’s unclear how much runway the brand still has and what that will ultimately mean for the company. Amin said “balanced growth” will define the story moving forward across its portfolio of brands, which he said he’s open to expanding.  

“Our first priority is realizing the organic growth we have with our existing portfolio. We have a very high bar when it comes to M&A,” Amin said. “But the good news is we’re a destination of choice for the strongest founders in the industry, just given our approach of supporting a founder’s vision and being able to lend our capabilities and continue to accelerate the growth. So I’d say M&A is definitely part of our future.” 



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Four dogs stolen every day across UK last year, police figures suggest

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Four dogs stolen every day across UK last year, police figures suggest



An average of four dogs were stolen every day across the UK last year, latest police figures suggest.

The figure brings the total number of reported dog thefts to around 25,000 over the past 11 years, with breeds such as French bulldogs, Staffordshire bull terriers and dachshunds most at risk, analysis of police data by Direct Line found.

However, improved awareness and the introduction of the Pet Abduction Act in May 2024, which made pet theft a specific criminal offence in England and Northern Ireland, might have contributed to the 11% decline in thefts compared with the previous year, the insurer said.

French bulldogs remain the most stolen breed, but thefts of Staffordshire bull terriers, German shepherds and dachshunds rose.

Despite ranking eighth overall, cocker spaniels recorded the fastest growth in reported thefts compared with the previous year.

An estimated 344 stolen dogs were reunited with their owners – a recovery rate of 21%, in line with previous years.

Half of UK dog owners (50%) worry about their pet being stolen, with 33% saying they only ever walked their dog on a lead and 26% supervising their dog while it is in the garden, a survey for Direct Line suggests.

Some 18% have installed motion-activated or security cameras to ward off thieves, while 17% use a tracking device to monitor their dog’s location.

Anne Maynard, whose female adult jack russell named Mouse went missing from Chalfont St Peter, Buckinghamshire in December 2023, said her disappearance remained “devastating” for the family.

Mrs Maynard, who is offering a £6,000 “no questions asked” reward for the safe return of Mouse, said: “Every day has been a struggle, I still cry every day, we’ve searched so much I no longer know where to look. I’ve tried everything within my means to find her but there’s been nothing.

“We check every jack russell we see. We’re sent pictures which could be Mouse, they look so similar and we have to really scrutinise the photo but no sign of her yet.

“We will not give up. We have so much hope that we’ll find out what happened that dreadful day.

“Thieves have no idea what happens when they do what they do. It’s devastating, heartbreaking and life changing. We just want our girl back home where she belongs. Someone has an opportunity to turn our lives back round again. Please give her up.”

Adam Burgin, head of trading and customer at Direct Line, said: “Any reduction in dog theft is welcome, but it’s important not to confuse lower numbers with lower risk. More than four dogs a day were still stolen in 2025 and, with over 25,000 dogs taken in the last 11 years, it’s clear this issue hasn’t gone away.

“Certain breeds, particularly French bulldogs and staffies, continue to be targeted, and we see the emotional and financial impact this can have on owners. Dog theft often results in lengthy recovery periods and, in many cases, permanent loss, especially when animals are stolen opportunistically or sold on quickly.

“While it’s encouraging to see more dogs reunited with their families, the reality is that most stolen dogs still don’t come home. Thieves can strike at any time, so taking preventative steps – such as keeping pets identifiable, ensuring microchips are up to date, and remaining vigilant – can make a real difference.”

Annalisa de Carteret, pet loss support manager at animal welfare charity Blue Cross, said: “The uncertainty of not knowing where your pet is, or if they are safe, can be just as painful as bereavement, but without the closure that comes with it.

“This can make the trauma even harder to process, especially for children who may be left distressed and confused by the sudden loss of a cherished member of the family.

“Reaching out to someone who understands the emotional impact of losing a pet can make a real difference. At Blue Cross, we provide a vital lifeline for devastated owners whose much-loved companions have been stolen, offering practical support and a listening ear during an incredibly difficult time.”



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Sinkhole shuts runway at LaGuardia Airport, delaying flights, Port Authority warns

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Sinkhole shuts runway at LaGuardia Airport, delaying flights, Port Authority warns


Airplanes are seen on the runway at LaGuardia Airport amidst mass travel delays, on March 28, 2026 in New York, New York.

Ryan Murphy | Getty Images

A sinkhole at New York’s LaGuardia Airport shut down a runway on Wednesday and is set to delay flights, local officials said.

The Port Authority of New York & New Jersey said it was conducting a daily inspection  of the airfield earlier Wednesday when “crews identified a sinkhole near Runway 4/22.”

“The runway was immediately shut down, and emergency construction and engineering crews are onsite to determine the cause and complete necessary repairs as quickly and safely as possible,” the Port Authority said in a statement.

It said travelers should expect delays and cancellations, with thunderstorms expected also expected to roll in Wednesday. Air traffic controllers routinely slow down flights or halt departures altogether during bad weather.

Weather was already delaying flights at all three major airports serving the New York City area and much of New Jersey, as well as in the Washington, D.C., area, the FAA said.

The disruptions come ahead of the busy Memorial Day travel period, with the runway closure adding to headaches at one of the country’s most congested airports.

About 20 Southwest Airlines arrivals will be delayed Wednesday, though weather is also playing a role, a spokesman said. Delta Air Lines said it has a weather waiver in place for flights in and out of New York City-area airports. Customers can rebook flights for no later than Sunday. Other major carriers didn’t immediately respond to requests for comment.

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Cheaper food and free bus rides for children in Reeves’ cost-of-living plan

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Cheaper food and free bus rides for children in Reeves’ cost-of-living plan



Shoppers could save on the cost of biscuits and chocolate as part of a package of measures being set out by Rachel Reeves to ease the impact of the Iran war.

The Government is cutting import tariffs on more than 100 types of product in a move that is expected to save consumers more than £150 million a year.

The Chancellor also set out a “Great British Summer Savings” scheme, including free bus travel for children in England during the school holidays in August.

In the Commons on Thursday, Ms Reeves will give details of policies to tackle the cost-of-living squeeze triggered by Donald Trump’s war in the Middle East but is not expected to announce immediate help with rising energy bills.

The household energy price cap is predicted to rise by £209 a year from July after the closure of the Strait of Hormuz pushed up global oil and gas prices.

Ms Reeves may set out more details of her contingency planning but she is expected to wait until September before finalising any package of targeted support for households over the winter months, when more energy is used.

The plan to suspend tariffs on some food imports is part of the Government’s wider effort to combat rising prices.

The full list of products will be published next week but is expected to include biscuits, chocolate, dried fruit and nuts.

Prime Minister Sir Keir Starmer said: “We know many hard‑working families are still feeling the squeeze and too often think they have to hold back.

“By giving every child free bus travel throughout August and cutting tariffs on everyday food items, we’re putting money back into people’s pockets and making life that bit easier.

“This government is focused on practical steps that help right now — easing pressure on household budgets, supporting parents during the school holidays, and backing British businesses.”

The free bus travel scheme will allow every child aged five to 15 in England to travel on participating local routes.

The Chancellor is committing more than £100 million to fund the free fares scheme and to support bus services facing increased costs.

Ms Reeves said: “My number one priority is protecting households from rising costs.

“This summer I want every family to be able to enjoy themselves, that’s why we’re launching the Great British Summer Savings Scheme, and why we’re helping kids with free bus travel throughout August.

“As the war in Iran pushes prices up at home, my economic plan is the right one. I will continue to make the right choices, to protect households and businesses, and build a stronger and more secure Britain.”

The latest package comes after the Government announced an extension of the 5p cut in fuel duty until the end of the year, along with a tax break for hauliers and help with red diesel costs for farmers.

The Office for National Statistics (ONS) said Consumer Prices Index (CPI) inflation fell to 2.8% in April, down from 3.3% in March – and the lowest level since March 2025.

But this was largely driven by regulator Ofgem lowering the energy price cap from the start of April by 7%, or £10 a month, for the average household using both electricity and gas, which was pushed down by Government measures to reduce bills.

Inflation is expected to surge back up as the conflict in the Middle East has sent fuel prices soaring and the energy price cap is expected to increase significantly from July when it is next updated.

Energy analyst Cornwall Insight’s prediction for Ofgem’s cap from July to September now stands at £1,850 for a typical dual fuel household, an increase of 13% on April’s £1,641 annual cap.

Ministers are wary of a Liz Truss-style universal bailout for all households, warning that unfunded giveaways could trigger an increase in government borrowing costs and inflation, feeding through to higher mortgage rates, which would end up leaving people worse off.



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