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Sales Dip and Maturities Loom, as Revlon Mulls Sale Options

By the numbers, Revlon Inc. is showing signs of a struggle.
The beauty company posted continued declines in sales and a widened loss for its most recent quarter. The numbers come at an important time for the business — the company is said to have tapped Goldman Sachs to explore potential sale options, either for the whole company or parts of the company.
Net sales for the quarter ended Sept. 30 were down 8.9 percent to $596.8 million, from $655.4 million in the prior-year period. Dips came from the Revlon brand and the Portfolio segment, which includes brands like Almay and Mitchum. At Revlon, part of the dip was due to retailers reducing inventory, and overall declines in mass makeup, the company said. Revlon also recorded a significantly higher net loss of $44.7 million, versus $11.1 million in the prior-year period.
“While we were disappointed with the negative results in the North America business, we remain pleased with the momentum and strong growth we are achieving in Elizabeth Arden and the expansion of our businesses in China, travel retail and e-commerce,” said Debbie Perelman, Revlon president and chief executive officer. “Despite top-line softness, we saw growth in profitability across three of our four segments,

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Via:: https://wwd.com/beauty-industry-news/beauty-features/sales-dip-and-maturities-loom-as-revlon-mulls-sale-options-1203366529/