ELF Beauty Closing Stores

Digitally native brand ELF Beauty (Oakland, Calif.) announced it is getting back to its roots and exiting the brick-and-mortar business.

The company currently operates 22 stores and is closing them in order to “focus on expanding its brand in national retailer and digital channels,” according to Chain Store Age. To that end, the company is also shifting its fiscal year to better align with those of Target (Minneapolis) and Walmart (Bentonville, Ark.).

Additionally, the company announced that its Chief Financial Officer John Bailey is stepping down, effective March 31. The company is looking for his replacement.

Details were not immediately available as to when all of the stores will officially close.