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Revlon Posts Sharp Decline in Q2 Numbers

Problems with its North Carolina manufacturing plant, and steep declines in fragrances, drove Revlon Inc.’s numbers down in the second quarter.
The business posted $606.8 million in net sales for the three months, down 6 percent from the prior year period, with a net loss of $122.5 million — 235 percent greater than the prior-year period’s $36.5 million loss. Diluted loss per share was $2.32, compared to 46 cents for the second quarter of 2017.
Revlon’s results were affected by continued problems in its Oxford, N.C. manufacturing plant, as well as losses of licenses in the fragrance segment. Those declines were offset by growth from new products from the likes of Almay, and the global expansion of Elizabeth Arden.
For the quarter, Revlon brand sales dipped 10.8 percent, to $258.3 million. The business experienced lower sales of Revlon makeup as well as Revlon ColorSilk hair color, primarily because of the manufacturing problems. Revlon also cited “consumption declines in North America.”
Arden sales were up 4.9 percent, to $106.1 million, driven by higher sales of skin care products like Ceramide and Prevage. The portfolio brands segment — which contains Almay and CND — posted a 2.9 percent sales increase, to $147.6 million. That jump was

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Via:: https://wwd.com/beauty-industry-news/beauty-features/revlon-posts-sharp-decline-in-q2-numbers-1202772056/