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ELF Beauty: Cruelty-Free Makeup And Teen Appeal Boost Sales

ELF Beauty (ELF) makes beauty and skin care products that sell at department and specialty stores and on online sites. For the highly brand-conscious yet price-sensitive users of cosmetics, ELF Beauty offers a disruptive range of leading brands at value prices. This, and the shuttering of its retail operations three years ago, has helped lift the company to record earnings in recent quarters.




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ELF has also quickly gained in popularity due to its plant-based, animal-testing-free products.

ELF Beauty: Strong Revenue, Earnings Record

The Oakland, Calif.-based company runs four brands: ELF Cosmetics, ELF Skin, Well People and Keys. Sales grew for the 15th straight quarter in the period ended September 30. Revenue from its plant-powered products grew 33% to $122.3 million through the company’s retail and e-commerce channels.

Earnings performance has been a little more choppy. Earnings per share of 36 cents showed strong 71% growth in the September quarter. But EPS is forecast to drop 5% in the fiscal third quarter, according to FactSet. Cash on hand at the end of the quarter was $85 million, more than double the year-ago level of $42 million.

The cosmetics company gave an upbeat outlook for the year ending in March 2023. Management now anticipates sales growth of  22%- 24%, revised upward from 14%-16%.

In comparison, Estee Lauder (EL), a global leader in the “prestige makeup” category, saw sales fall by 11% to $3.9 billion from $4.4 billion for the September quarter. Earnings of $1.42 a share fell 24% from $1.89. The makeup company also lowered its outlook due to China-related issues.

Jefferies analysts believe that the company’s sales are more dependent on China’s markets than its peers. ELF Beauty’s 100% cruelty-free policy keeps its products out of China since animal testing is required by law there.

Morgan Stanley analyst Dara Mohsenian, JPMorgan’s Andrea Teixiera and Piper Sandler’s Erinn Murphy have an overweight rating on the stock. Raymond James’ Olivia Tang rates the stock an outperform.

Mohsenian  and Tang had a price target of $50 while Teixiera had a lower target of $48 for the stock. Shares of the makeup stock have surged past 50 after earnings on Nov. 2. Murphy has a price target of 55.

Cosmetics Global Market Growth

According to Precedence Research estimates, the global cosmetics market will grow from $341 billion in 2020 to over $560 billion by 2030. The industry is a highly competitive one, with several large caps like L’Oreal (LRLCY) and Estee Lauder and smaller entrants like ELF.
Since 2008, ELF Beauty has been growing its footprint through big-box retailers like Target (TGT) and Walmart (WMT). ELF’s cosmetics also sell at drugstores like CVS (CVS) and Rite Aid (RAD).
ELF closed its own stores just ahead of the pandemic in 2019, shifting its focus to national retailers and e-commerce. Specialty stores like Ulta (ULTA) and Sephora also sell ELF makeup. In addition, the company has an international presence and sells at Superdrug and Boots in the U.K.

In online sales, Elfcosmetics.com faces competition from Sephora.com and to a lesser extent from Ulta.com.

Private equity firm TPG Growth in 2014 acquired a majority stake in the makeup company. The company raised $141 million in its IPO in 2016. In 2020, ELF Beauty bought W3LL for $27 million in cash. W3LL has a strong record of being cruelty-free and using plant products.

Makeup Company’s ESG Track Record

ELF Beauty boasts of being an ESG play that is 100% free of animal testing and is certified as cruelty free by People For The Ethical Treatment of Animals (PETA). The makeup business also claims a “clean” profile. To claim that, it stays away from more than 1,600 ingredients such as parabens, phthalates and sulfates that are restricted by the FDA and the European Union Cosmetic Regulation.

ELF also offers 40 Environmental Working Group (EWG) Verified products, the industry standard for “clean and healthy” beauty products. According to Chairman and CEO Tarang Amin, the makeup company reformulated over 350 stock keeping units, or SKUs, to comply with its standards of “clean.”

In August, its third-party manufacturing facility became Fair Trade Certified. Fair Trade standards “promote sustainable livelihoods and safe working conditions for factory employees, protection of the environment and transparent supply chain.”

Strong Teen Appeal

ELF’s prestige and mass value combination as well as its ESG campaign make it particularly attractive to teens. A recent Piper Sandler report ranked ELF the top preferred cosmetic brand among teens, with 16% of total makeup sales for the demographic. Teens preferred discount channels, which saw 12% of teen spending on makeup in 2022 — a segment on which ELF focuses.

ELF Beauty has a strong presence on TikTok and Twitch. Consumers age 18 to 24 accounted for 32% of visitors to Elfcosmetics.com, followed by age 25 to 34 at 24% of visitors.

ELF ranks first in IBD’s cosmetics and personal care group. The makeup stock has a perfect Relative Strength Rating of 99 and strong Composite Rating of 97. Shares are extended over a cup-with-handle base and buy point of 33.73.

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Mars, Snickers and Milky Way chocolates to receive a major eco-friendly packaging makeover in a bid to reduce waste

Mars, Snickers and Milky Way chocolate bars will be going green with the long-used plastic-based packaging set to be replaced with recyclable paper-based wrapping.

Mars Wrigley Australia announced the major makeover on Monday, and the new-look chocolate bars will hit the shelves in April of next year. 

All of the manufacturer’s Australian-made chocolate bars will be switching to the new recyclable packaging as part of Mars Wrigley’s ongoing sustainability campaign. 

 

All chocolate bars produced by the company will aim to be recyclable, reusable or compostable by 2025.

This puts them firmly in line with the Australian Packaging Covenant Organisation’s 2025 National Packaging Targets.

APCO’s CEO Chris Foley welcomed this week’s announcement from Mars Wrigley.

“Mars Wrigley’s switch to paper-based packaging sets an excellent example to all businesses in Australia of the critical role innovative packaging formats that are more readily recyclable play in meeting the 2025 National Packaging Targets,” he said.

The Australian packaging rollout is a world first for the manufacturer, who hopes to implement the changes across the globe. 

The move will eliminate more than 360 tonnes of plastic from Mars Wrigley’s value chain.

In a big win for ease of use, the packaging can be recycled using comingled recycling bins and paper/cardboard recycling bins across Australia.

General Manager Andrew Leakey said making sure Australians are able to easily recycle the new packaging was a key concern for Mars Wrigley’s research and development team. 

“Mars’ ongoing investment in local R&D has allowed us to be agile and create solutions that have a positive impact on our environment, meet our stringent quality and food safety standards but are also convenient for our consumers to recycle via kerbside recycling,” he said. 

“This was crucially important for us as we wanted to ensure consumers had easy access to recycle our new paper-based packaging.”

The launch of the paper-based packaging was a “significant step” for the manufacturer, he said. 

“As one of the largest snacks and treats manufacturers in Australia, Mars has a responsibility to reduce our environmental footprint right across our business, including packaging.”


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Is Thrift Shopping *Actually* Ethical?

One day, I was scrolling through Twitter and came across a tweet about upper-middle-class class people thrift shopping. I personally was against the up cycling/re-selling trend because I thought it to be greedy. Then, I began to see more and more tweets, and then stated to see ones about those who buy thrifted, name brand items and sell them for what they’re actually worth instead of the very low price they got them for.

The debate is that thrift stores are for those who are economically disadvantaged; upper to middle class folks have increasingly become interested in thrifting, which leaves little options for those who could are actually struggling to find affordable clothing. As a middle class serial thrifter, I was interested. I wondered if all my previous thrifting was actually doing more harm to others than it was expanding my closet and saving me money. So I researched a little bit and have found a few different viewpoints on the issue to consider.

The first I’ll touch on the fact that when a store gets so much business, and a demand is seen for their items, they raise prices. So, obviously, this is detrimental for the less advantaged people who actually need and depend on those thrift stores and their low prices. I’ve actually witnessed this happen in my own town.

As I said before, I was a serial thrifter with a love for vintage tee’s and sweaters. So when I pop into my favorite thrift store and see that prices have changed from $1.25 to $1.75 (and sometimes more depending on the item) I was a bit upset. I even noticed a specific section in the center of the store with all the more expensive, and consequently, name brand items.

A name brand item can make all the difference for someone who is poor and needs a nice shirt for a job interview. It can be the difference in getting the job or not. It can be the difference that takes them out of poverty. Or a little girl or boy in school. I used to see kids getting made fun of for their clothes and being poor, and not provided with the same opportunities as the richer kids. So, it was disheartening for me to realize that something like this could stop them from improving their confidence and quality of life.

Most middle to upper class people have more than enough clothes, and just want new ones. I’m guilty of this. When I figured out that I could go on huge shopping spree’s with a mere $20.00, I was all over it. This presented me with a problem though; I was never buying anything I actually needed. I was much more apt to buying something just because it was super cheap and I thought I *might* wear it. But more importantly, I was taking advantage of a system and taking away opportunities for people who didn’t have it as well as I did.

Then, there’s the argument that there’s plenty of clothing to go around. And for big cities, this may be the case… but think about smaller towns and communities. If there’s a small portion of poor people who need the thrifted clothing, and a moderate amount of richer folks who are buying up all the good clothes, that just doesn’t seem fair to me. But, there’s also lots of bigger thrift stores who donate to service projects, and it’s great that they’re profiting off this trend of thrifting.

This isn’t to say that middle class people don’t sometimes find themselves in a place where they need to thrift. It’s also not to say that no one who has money should thrift shop- ever. I’m writing this as more of a reminder to be conscious with our purchases and when bargain shopping. Yes, you found it for a steal- but, do you really think you’ll put it to use? Yes, it’s a killer shirt for a low price, but can’t you find another decently priced shirt elsewhere and perhaps give someone else an opportunity to be trendy and stylish? Just food for thought.

I only lightly touched on the thrift shopping debate. If you’d like to look more into this issue, I’d suggest checking out this, this, and this, website!!




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Crowds come out for Alton’s Green Gift Bazaar

ALTON – Some were looking for a specific item, while others were just looking, but they were busy Saturday morning and early afternoon checking out merchandise at the annual Green Gift Bazaar.

The Bazaar, which celebrated 20 years, is sponsored by Alton Main Street and the Sierra Club, and is held in conjunction with Small Business Saturday.

It was again split into two locations, the Jacoby Arts Center and Post Commons.

“We’re really trying to encourage people to shop local, shop small,” said Christine Favilla of the Sierra Club, and co-coordinator of the Bazaar. “Keep the money circulating in our community rather than going to a headquarters in another state. And also to shop green.

“All of the vendors have a really high environmental focus, so people can feel good about not wasting a lot of plastic on their loved ones this year,” she said.

Some people were just browsing.

Wyatt Martin, of Kansas City, Missouri, was in town for the holiday and was at Post Commons with his mother, Toni Barbier, of Brighton.

“We just love to come to Post Commons,” he said, holding his cup of coffee. “She heard about the Bazaar happening today and wanted to check things out.

“It’s pretty cool, I think it’s great to emphasize local business more than the big stuff,” he added.

Others were looking for something very specific.

At Jacoby, Jennifer Ickes, of Alton, was looking through alpaca hats at a stand for River Wind Farm Alpacas.

She was specifically looking for hats.

“My dog chewed up my husband’s last one,” she said.

She added that the chewed-up hat had been bought at the Green Gift Bazaar several years ago.

“My grandma actually got that for him as a Christmas present,” Ickes said, adding she enjoys coming to the Bazaar. “We do it every year.”

Kathi Beyer, who owned the stand Ickes was at, said she makes some of the items, and sends wool from her alpacas to an agricultural co-op where they make other items.

She said events like the Green Gift Bazaar are important for businesses like hers.

“Sometimes you can’t get the people to you, so you want to go to the people,” she said. “This is my first time at this one, and it’s a wonderful event. I like the idea that we’re talking about sustainable or green products.”

Bonnie Finger and her daughter, Ginger, of Alton, were looking at jewelry.

“Every year we hit the Green Gift Bazaar, but we’re at Jacoby a lot anyway for different events,” Bonnie Finger said, adding it is important to shop local “and see some cool stuff.

She likes the variety of vendors and goods.

“It’s kind of fun that it’s split across the Post and Jacoby, because it gets us out and about and hitting other places.”

As part of Small Business Saturday, organizers were passing out information on downtown vendors, including locations and specific sales that day.

Finger said it is important to shop small.

“We do it as much as possible to support our local community,” she said.

Zellipah Githui, of Gitzell Fairtrade International, one of the exhibitors at Jacoby, was looking around herself, and planned to buy something.

“There’s a lot of good stuff here,” she said.

Her company specializes in imported African baskets and other products.

“We work with weavers back in Africa,” she said.

The weavers are from five different countries: Kenya, Ghana, Senegal, Uganda and Madagascar.

“We pay them full price and move (products) to market, and save them transportation,” she said. “We also give them a down payment to buy their resources, so every woman can weave.

“We make sure they do what they do best,” she added.

This is the company’s first time at the Green Gift Bazaar.

“This is a beautiful festival here,” Githui added.

Other local events included the annual Jerseyville Downtown Country Christmas Festival, and a Small Business Saturday event in Wood River.

 

 

 

 

 

 


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Spanx Cyber Monday Sale 2022: 20% off Spanx Faux Leather Leggings

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If you purchase an independently reviewed product or service through a link on our website, STYLECASTER may receive an affiliate commission.

When it comes to leather leggings of the faux, polyurethane kind, finding a pair that lets you sit down without straining or doesn’t ride up your butt to wedgie hell is not easy. The best pair that has gained cult status, held in high regard by Oprah and approved by none other than Victoria Beckham, is by Spanx, and they’re a rare 20 percent off for Cyber Monday right now! Both Spanx’s site and Nordstrom are having can’t-miss deals on the brand.

Spanx has nailed, to a T, high-waisted faux leather leggings that fit like a (comfy) glove once shimmied into, lending themselves to leg-elongating goodness. The only thing holding most shoppers back is the somewhat pricey $98 price tag—but with Cyber Monday sales, they are now a more wallet-friendly $78.40. It’s not a major discount, but 20 percent adds up, people!

These leggings have a slight sheen, which makes the faux factor more subtle. They beat all cheap-looking, overtly shiny versions, sporting a pebbled rather than smooth pleather-esque texture. They even feel thick and luxurious, belying the nylon and PU material they’re made of.

Spanx Faux Leather Leggings

Courtesy: Spanx

In true Spanx fashion, the leggings squeeze and lift the butt with logic-defying compression, and the waist-contouring band really holds you in, offering supreme tummy control. Yet, despite all the enfolding and squishing, getting into the leggings requires minimal wiggling thanks to extra-stretchy elasticity.

Ergo it makes perfect sense that the leggings have earned a legion of loyal fans, from bloggers to influencers and celebs. According to a report on E! Online, they’ve been spotted on the likes of Lizzo, Jennifer Hudson, Tia Mowry and Donatella Versace, to name a few. Our advice is to size up slightly, as they do tend to run small.

STYLECASTER | Spanx Cyber Monday

Courtesy of Spanx.

Another reason we love ’em? Spanx doesn’t leave anyone out—these come in different lengths, from Regular to Petite and Tall, and sizes up to 3X. The contoured booty-shaping design is the butt lift we all need, and the absence of a center seam equals no camel toe, a must for all tightly fitted pants. These can also withstand machine washes without shrinking or crinkling.

You can choose to shop this pair from Nordstrom (where there are tons of other Cyber Monday deals to indulge in) or directly from the Spanx site, where everything is on sale for 20 percent off, including even more faux leather favorites. Read on for a few more and give your booty the Cyber Monday shopping spree it deserves!

STYLECASTER | Spanx Cyber Monday

Courtesy of Spanx.

Faux Leather Croc Shine Leggings

If you’ve already got black faux leather leggings you love, consider this shinier olive green pair with a bit of fun croc texture.

 

STYLECASTER | Spanx Cyber Monday

Courtesy of Spanx.

Faux Patent Leather Leggings

Oh, you want SHINE shine? Look no further than the faux patent leggings, available in Deep Green, Black and Ruby.

STYLECASTER | Spanx Cyber Monday

Courtesy of Spanx.

Faux Leather Moto Leggings

The textured ribbing on the moto-style leather leggings makes them perfect for pairing with basic tees and knits. They do the hard work for you and make any outfit more stylish!

STYLECASTER | Spanx Cyber Monday

Courtesy of Spanx.

Faux Leather Bike Short

Channel your inner Princess Di (with an edge!) and go for bike shorts in cool faux leather for 50 percent off.

 

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Eco Terreno’s Urban Tasting Room and Lyon & Swan supper club open in

Next time you’re craving an upscale wine-tasting experience, there’s no need to trek to Napa or Sonoma. With the arrival of Eco Terreno’s new Urban Tasting Room in North Beach’s storied Jackson Square, you can sample delicious wines in a gorgeous setting here in town. And enjoy attentive service worthy of wine country’s finest establishments.

“Though Sonoma is close to San Francisco, a trip to wine country requires a generous amount of time,” says Mark Lyon, founder and owner of Eco Terreno Wines and Vineyards, a leader in biodynamic and organic farming. “It’s for this reason that we chose to bring the essence of our farm in Alexander Valley to the city. We also wanted to engage with a community where people could learn about and appreciate our strong environmentally conscious ethos.”

After searching for a place for several years, he and Rob Izzo, Eco Terreno’s CEO, found the historic building at 140 Columbus Avenue in 2018. The white lion’s head above the entry seemed a promising omen. But it was the building’s legacy of inclusivity, a value that’s always been part of the Eco Terreno culture, that won them over. (Lyon was one of the first prominent, openly-gay members of the California wine industry.) In 1918, it housed The Jupiter, a black and tan club owned by Jelly Roll Morton. (These clubs provided safe spaces for interracial folks to socialize during a time of segregation.) Later, Mona’s — the first lesbian bar on the West Coast — opened her doors here. And by 1952, the building was home to the Purple Onion, the famous Beat-era comedy and entertainment club that launched the careers of legendary performers like Lenny Bruce, Phyllis Diller, and The Smothers Brothers.

With large windows overlooking bustling Columbus Avenue, the tasting room exudes a relaxed yet elegant vibe. Decorative touches such as hand-painted murals of vineyards and a color palette infused with sage green and deep burgundy nod to the room’s ties to the land and wines of Alexander Valley.

“It’s just a beautiful space that is so warm and welcoming,” says Dawn Agnew, Eco Terreno’s hospitality director. “We are really excited to bring this kind of tasting room to the city.”

Eco Terreno wines. |  Photo credit: Frank Frances

 

Tastings showcase wines from Eco Terreno’s old vines and are paired with small plates designed by Executive Chef Joe Ball, formerly of La Folie. Food pairings change daily according to what’s in season at Eco Terreno’s produce farm and other local organic sources. Ball concocts his dishes around the profiles of the wines being served. Tastings begin at $50 per person for the Bee Classic, which features five wines. For $130 a head, the Lyon’s Pride includes a glass of Champagne followed by a five-course wine and food pairing.

“We knew we wanted to offer more than just a tasting room with wine and cheese pairings,” explains Agnew, who worked for Hamel Family Wines and Restaurant Gary Danko before joining Eco Terreno. “There’s a bit of a learning curve for some guests until they actually experience all that we offer. Then it’s like ‘Oh, I just left the French Laundry.’ We are 100 percent service-driven. It’s all about the guest and what they’re comfortable with.”

On the top floor of the tasting room, there’s an executive kitchen with exhibition and education space for private events and Eco Terreno wine club members. And a 250-gallon tank for making wine on-site.

The executive kitchen on the top floor of Eco Terreno’s Urban Tasting Room. | Photo credit: Frank Frances

 

Downstairs, you’ll find Lyon & Swan, an underground supper club featuring French-California cuisine and nightly live music. The room is small and intimate — it seats about 54 guests. But bold décor from design firm StudioHEIMAT makes a big statement. There’s lots of exposed concrete and eclectic artwork that honors the building’s diverse, hedonistic past. Streaked with chartreuse, brown, and gray ripples, the onyx bar is itself a work of art. So is the large modern light fixture that dangles in a web of glass strands above a quad of plush orange and tropical-patterned chairs. The lounge area faces a dramatic fireplace, a perfect spot to linger with a cocktail or glass of wine before dinner. Russet leather banquettes line the walls; mid-century-inspired tables and chairs are sprinkled around the stage so you can savor a bird’s eye view of the entertainment along with your meal.

“There’s no door charge or per-person minimum in the supper club,” Agnew tells Hoodline. “Dinner, live entertainment, cocktails—they all work together seamlessly and harmoniously. And Matteo Villano, our beverage director, has put together the coolest wine list I’ve seen in the city in a long time.”

 
Live entertainment and French California fare await in the Lyon & Swan supper club. |  Photo credit: Frank Frances

A supper club starter from Executive Chef Joe Ball. |  Photo credit: Frank Frances

 

Eco Terreno Urban Tasting Room, located at 140 Columbus Avenue, is open daily from 11:30 a.m. to 4 p.m. Lyon & Swan (124 Columbus Avenue) is open Wednesday through Monday, from 5 to 11:30 p.m. For more information or reservations, visit www.ecoterreno.com and www.lyonandswan.com

 

 

 


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Brown Bag Potatoes meet retail demand for sustainable packaging

Wisconsin potato and onion distributor Vee’s Marketing, Inc., is offering a new sustainable consumer potato package to its retail customers around the country. 

Company president and owner Jason Vee first introduced his all-natural, 100% recyclable, compostable, and biodegradable bag in August. 

With this package he has rebranded his spuds, which are now Brown Bag Potatoes. 

Vee told Fresh Fruit Portal that paper keeps out light of the bag, which means less greening, and the potatoes stay fresh longer. Even Brown Bag’s glue and ink are made from vegetables. 

After a large investment in developing the new item, Vee has been relieved by a positive response to his new packaging. Brown Bag Potatoes got a great deal of exposure when Vee’s Marketing marketed at October’s Global Produce & Floral Show in Orlando. 

These features have pleased retail buyers who are very concerned about offering produce in sustainable packaging.

The minor additional cost of the biodegradable bag is not a deterrent to sales, Vee said.
The company promoted Brown Bag Potatoes again on Nov. 16 with a press release.

This noted that Vee’s Marketing was created in Wisconsin in 1990.

Jason Vee, with help from potato expert, John Alstrup, had the vision to lead the produce industry in sustainable packaging with their Brown Bag Potatoes.

“Times are changing and the demand for sustainable packaging is growing. Plastic bags are heavily used in the produce industry, which leads to landfill waste and environmental destruction.”

The release continued: “Brown Bag Potatoes is ready to set a new standard in the industry and reinvent the way people think about packaging fresh produce. The heart of the company’s mission has always been to provide value, and they are doing it in an inventive and revolutionary new way. Gone with the old standard plastic and in with the new – Earth-friendly paper!”

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Ayodhya City-2031: CM Adityanath reviews master plan, bats for sustainable development 

Uttar Pradesh Chief Minister Yogi Adityanath has reviewed the master plan for Ayodhya City-2031 and directed officials to develop it as a model city of urban development with ease of living as its basis.

Envisioning Ayodhya as a climate-friendly city, the chief minister directed officials to plan the project in such a way that all boats and steamers operating in Saryu river run on green fuel and vehicles on road are powered by electricity. During the meeting, the chief minister laid emphasis on a “common building code” in areas surrounding the Ram temple, saying similar shaped buildings and identical paints on them will add to the project’s beauty.

Also read| Rs 20,000 crore investment, international airport: The significance of Ayodhya, Modi’s showcase for 2024 elections

“As envisioned by Prime Minister Narendra Modi, the overall development of ‘Dharmanagari’ is the government’s top priority, and the people of the country and the world are eager to see a ‘Divya, Bhavya, Navya Ayodhya’ (grand new Ayodhya),” he said.

Also read| Noida Airport: CM Yogi Adityanath’s emotional appeal, compensation hike propel turbulence-hit land acquisition

Asking the officials to focus on sustainability, he said the current urban population of Ayodhya was about 5.5 lakh and as it was estimated to reach 11-12 lakh by 2031.”In such a situation, the master plan of this important city has so far been prepared keeping in mind the needs of the future,” he said and highlighted that the entire project should be built around ease of living.

The chief minister also directed the officials to draft proposals to name all intersections after sages, women and great characters from Ramayana. Keeping tourists in mind, he directed the officials to plan parking area at a maximum of two kilometres east of the temple during off-season and push it back to five kilometres during festivals. The Ayodhya Master Plan 2031 proposes six entrances: from Lucknow, Sultanpur, Rae Bareilly, Ambedkar Nagar, Gorakhpur and Gonda to Ayodhya city.




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Hospitals are now pressured to provide vegan food

For many hospital patients, the food they are served is like adding insult to injury. And if you happen to be a hospitalized vegan or vegetarian, your options might indeed be very bleak. Fortunately, the U.S. Vegan Climate ETF is trying to change that. They are pressuring hospitals to provide plant-based options at every meal for patients, in vending machines and in the cafeterias frequented by staff, visitors and outpatients.

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The U.S. Vegan Climate ETF (VEGN) represents nearly $65 million in assets under management. It’s sent shareholder proposals to the board of directors at Centene, Elevance Health, HCA Healthcare, Molina Healthcare and United Health Group (UNH) regarding making vegan food widely available in hospitals. The ETF’s advisor, Beyond Investing LLC, wants these proposals to be included in the proxy statements these companies will send to shareholders as they prepare for their 2023 annual meetings.

Related: This healthcare center maximizes energy use and greenery

“We launched VEGN to be a force for good and a means for investors to use their capital to effect positive change,” said Claire Smith, CEO of Beyond Investing. “We call on other shareholders in these companies to support our proposed resolutions and bring about better health outcomes for patients and improve these companies’ bottom lines.”

In the meantime, the Vegetarian Resource Group has written this helpful guide for hospitalized vegans. The ETF’s strategy is not just to support veg hospital patients, but emphasizes that plant-based food is a healthier choice for patients in general. Afterall, the Physicians Committee for Responsible Medicine has proclaimed that plant-based diets help reduce the risk of cardiovascular disease, diabetes and many cancers. The World Health Organization classifies processed meat as carcinogenic to humans and deems it a major contributor to colorectal cancer.

Furthermore, using hospitalization as a teachable moment to improve health habits, including a better diet, could actually save hospitals money. The Hospital Readmissions Reduction Program, under the Affordable Care Act, reduces the amount of money hospitals get if patients are readmitted within 30 days of being discharged from a previous hospital stay. Eating better, such as sticking to a plant-based, whole food diet, is one of many ways people can improve their health.

Via Beyond Investing

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ELF Beauty: Cruelty-Free Makeup And Teen Appeal Boost Sales

ELF Beauty (ELF) makes beauty and skin care products that sell at department and specialty stores and on online sites. For the highly brand-conscious yet price-sensitive users of cosmetics, ELF Beauty offers a disruptive range of leading brands at value prices. This, and the shuttering of its retail operations three years ago, has helped lift the company to record earnings in recent quarters.




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ELF has also quickly gained in popularity due to its plant-based, animal-testing-free products.

ELF Beauty: Strong Revenue, Earnings Record

The Oakland, Calif.-based company runs four brands: ELF Cosmetics, ELF Skin, Well People and Keys. Sales grew for the 15th straight quarter in the period ended September 30. Revenue from its plant-powered products grew 33% to $122.3 million through the company’s retail and e-commerce channels.

Earnings performance has been a little more choppy. Earnings per share of 36 cents showed strong 71% growth in the September quarter. But EPS is forecast to drop 5% in the fiscal third quarter, according to FactSet. Cash on hand at the end of the quarter was $85 million, more than double the year-ago level of $42 million.

The cosmetics company gave an upbeat outlook for the year ending in March 2023. Management now anticipates sales growth of  22%- 24%, revised upward from 14%-16%.

In comparison, Estee Lauder (EL), a global leader in the “prestige makeup” category, saw sales fall by 11% to $3.9 billion from $4.4 billion for the September quarter. Earnings of $1.42 a share fell 24% from $1.89. The makeup company also lowered its outlook due to China-related issues.

Jefferies analysts believe that the company’s sales are more dependent on China’s markets than its peers. ELF Beauty’s 100% cruelty-free policy keeps its products out of China since animal testing is required by law there.

Morgan Stanley analyst Dara Mohsenian, JPMorgan’s Andrea Teixiera and Piper Sandler’s Erinn Murphy have an overweight rating on the stock. Raymond James’ Olivia Tang rates the stock an outperform.

Mohsenian  and Tang had a price target of $50 while Teixiera had a lower target of $48 for the stock. Shares of the makeup stock have surged past 50 after earnings on Nov. 2. Murphy has a price target of 55.

Cosmetics Global Market Growth

According to Precedence Research estimates, the global cosmetics market will grow from $341 billion in 2020 to over $560 billion by 2030. The industry is a highly competitive one, with several large caps like L’Oreal (LRLCY) and Estee Lauder and smaller entrants like ELF.
Since 2008, ELF Beauty has been growing its footprint through big-box retailers like Target (TGT) and Walmart (WMT). ELF’s cosmetics also sell at drugstores like CVS (CVS) and Rite Aid (RAD).
ELF closed its own stores just ahead of the pandemic in 2019, shifting its focus to national retailers and e-commerce. Specialty stores like Ulta (ULTA) and Sephora also sell ELF makeup. In addition, the company has an international presence and sells at Superdrug and Boots in the U.K.

In online sales, Elfcosmetics.com faces competition from Sephora.com and to a lesser extent from Ulta.com.

Private equity firm TPG Growth in 2014 acquired a majority stake in the makeup company. The company raised $141 million in its IPO in 2016. In 2020, ELF Beauty bought W3LL for $27 million in cash. W3LL has a strong record of being cruelty-free and using plant products.

Makeup Company’s ESG Track Record

ELF Beauty boasts of being an ESG play that is 100% free of animal testing and is certified as cruelty free by People For The Ethical Treatment of Animals (PETA). The makeup business also claims a “clean” profile. To claim that, it stays away from more than 1,600 ingredients such as parabens, phthalates and sulfates that are restricted by the FDA and the European Union Cosmetic Regulation.

ELF also offers 40 Environmental Working Group (EWG) Verified products, the industry standard for “clean and healthy” beauty products. According to Chairman and CEO Tarang Amin, the makeup company reformulated over 350 stock keeping units, or SKUs, to comply with its standards of “clean.”

In August, its third-party manufacturing facility became Fair Trade Certified. Fair Trade standards “promote sustainable livelihoods and safe working conditions for factory employees, protection of the environment and transparent supply chain.”

Strong Teen Appeal

ELF’s prestige and mass value combination as well as its ESG campaign make it particularly attractive to teens. A recent Piper Sandler report ranked ELF the top preferred cosmetic brand among teens, with 16% of total makeup sales for the demographic. Teens preferred discount channels, which saw 12% of teen spending on makeup in 2022 — a segment on which ELF focuses.

ELF Beauty has a strong presence on TikTok and Twitch. Consumers age 18 to 24 accounted for 32% of visitors to Elfcosmetics.com, followed by age 25 to 34 at 24% of visitors.

ELF ranks first in IBD’s cosmetics and personal care group. The makeup stock has a perfect Relative Strength Rating of 99 and strong Composite Rating of 97. Shares are extended over a cup-with-handle base and buy point of 33.73.

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