Revlon has announced a solid rise in sales for the first quarter of 2016. On an XFX basis, sales were up 3.6 percent to US$439.6 million. Adjusted net income grew US$12.5 million to US$13.1 million for the quarter ended March 31, 2016.
Net consumer sales were up 2.5 percent (XFX), driven by higher sales of Revlon ColorSilk hair color, Cutex nail products and SinfulColors make-up, as well as innovation from the Mitchum deodorant brand. The professional segment reported an uplift of 2.7 percent thanks to a strong performance by American Crew and Crème of Nature, although the company’s CND nail products brands struggled internationally, particularly in Russia.
“I am excited to have joined Revlon during a period of renewed growth and innovation,” said Revlon President and Chief Executive Officer Fabian Garcia. “The company began 2016 with a solid start, growing top line net sales by 3.6 percent on an XFX basis. Growth in International Consumer and US Professional net sales was especially strong at 7.5 percent on an XFX basis and 10.3 percent respectively. While US Consumer net sales decreased slightly by 0.5 percent, consumption remained strong and we gained share during the quarter. We will continue to execute our value creation strategy with a strong focus on innovation, driving the company to even greater success.”