Revlon Narrows Sales Decline, Loss

Revlon reported only a slight dip in net sales for the most recent quarter, with a narrowed loss.
The business posted $553.2 million in net sales for the quarter ended March 31, down 1.3 percent. Net loss was $75.1 million, improved from $90.3 million in the prior-year period. Diluted loss per common share was $1.42.
"We are very pleased with the continued momentum in our business during the first quarter of 2019 driven by strong growth in Revlon and Eliabeth Arden," said chief executive officer Debbie Perelman in a statement. "We also remain encouraged by the positive consumer response to our first half 2019 new product introductions. Our strategic focus areas of e-commerce, Elizabeth Arden skin care, China and travel retail continued to perform exceedingly well, and as a result of improved operational performance, we achieved our third consecutive quarter of year-over-year adjusted growth."
The Revlon segment posted a 7.9 percent increase in sales, to $247.3 million, in the quarter. Elizabeth Arden posted a 5.4 percent increase, to $111.4 million. The portfolio segment, which includes brands like American Crew and Mitchum, posted a 12.9 percent decrease in net sales, to $117.2 million. Fragrances also declined, posting $77.3 million in net sales, a drop of 15.4 percent.
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