Revlon second quarter: sales down 3.9 percent to US$645.7 million

Revlon second quarter: sales down 3.9 percent to US$645.7 million

Revlon has announced its results for the second quarter of the financial year. Net sales were down 3.9 percent (XFX) on a pro forma basis to US$645.7 million. Adjusted EBIDTA also fell sharply, decreasing 32.7 percent, driven, says the US beauty company, by net sales declines in North America.

“While our financial performance and sales results in the US remained soft in a challenging retail environment, we are encouraged by the global growth of our iconic Revlon and Elizabeth Arden brands, our international sales which remain robust and the key strategic initiatives that we have implemented during the quarter, which we expect will drive sequential improvements in company performance,” said Revlon President and CEO Fabian Garcia.

Garcia revealed that the company was focusing its global expansion on large and fast-growing geographies, developing a strong product pipeline for the second half and is continuing to make progress in digital communications and e-commerce. The company is on course to deliver US$50 to US$60 million in synergies over the year, with US$24 million achieved in the first half.

 

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