Revlon has announced a net sales fall of 3.3 percent in Q2, a drop attributed to a fall in sales for its portfolio sector and fragrances.
The decline was said to be partially offset by a strong quarter for its Elizabeth Arden brand. Reported net loss improved to $63.7 million as opposed to a $122.5 million net loss in the prior-year period.
Debra Perelman, President and CEO of Revlon, said, “We are pleased with our continued momentum and strong growth in many of our key markets and brands and are working hard to counter the broader market downturn in the U.S. mass market. We are focused on executing with excellence our new product launches here in the U.S. and around the world and our optimization program which is on track to deliver significant cost reductions, as well as continuing to grow in our key strategic investment areas such as China and e-commerce expansion.”
Of its different sectors, Revlon net sales reported a 2.6 percent fall from $258.3 million to $251.5 million this year, while Elizabeth Arden increased 10.7 percent to $117.4, Portfolio and Fragrances fell 19.6 percent and 12.9 percent respectively. The Elizabeth Arden increase was attributed to higher net sales of skin care products including Ceramide and Prevage.
The fragrances segment was hit by lower net sales of mass market products and retail store closures.