Revlon Q1 results miss market estimates
Revlon has reported a Q1 net sales decline of 5.7 percent to $560.7 million as opposed to $594.9 million the previous year.
The decline was attributed in part to net sales decline in its Revlon, Portfolio, and Fragrances segments, however, this was partially offset by net sales growth of its Elizabeth Arden brand.
Operating loss was $61.7 million in Q1 as opposed to an operating loss of $43.1 million in the prior-year period, while reported net loss stood at $90.3 million 2018 Q1, compared to a net loss of $37.4 million the previous year.
Paul Meister, Executive Vice Chairman of the Board said, “Our quarterly results continue to reflect the challenges the Company faces in the current mass retail and beauty environment in the United States. While our international sales remain strong, we are aggressively driving change and innovation in our brands, products, and sales processes to meet these challenges head on. We are seeing significantly accelerated sales growth across all our digital platforms, positive consumer responses to our new brand campaigns, and are confident in the future.”
Of the sectors, it was just the Elizabeth Arden brand that posted growth, with the range rising 10.4 percent to $105.7 million, while all geographical regions posted a net sales decline.