Revlon reports Q3 sales decline attributed to ‘poor performance in US’

Revlon reports Q3 sales decline attributed to ‘poor performance in US’

Revlon has reported a 2017 Q3 net sales fall of 10.5 percent on a pro forma basis, while its reported net loss was $32.4 million, a fall from a $4.7 million net loss in a year on year basis.

Sales of the company’s Elizabeth Arden brand fell 9.9 percent over the period, a poor performance driven by fewer sales of heritage and designer fragrances predominately in the US mass retail channel.

Fabian Garcia, Revlon President and Chief Executive Officer, said, “Although we continue to achieve strong sales growth for our core brands internationally, our overall results, which continue to be impacted by the Company’s performance in the U.S., were disappointing.
“We continue to make strategic investments in our capabilities to transform our business model with ongoing focus on: Strengthening digital engagement with consumers: Driving e-commerce and online sales growth: Accelerating speed of innovation.”

Consumer net sales for the company declined 10.5 percent to $306.7 million, while the professional segment net sales fell 9.9 percent to $107 million, a drop attributed to a fall in sales of CND nail and American Crew men’s grooming products.

Net sales declines in North America, specifically the mass retail channel, were said to be the cause for the fall in both the consumer and professional segments, as well as affecting the Elizabeth Arden segment.