Revlon Sales Decline, Loss Narrows

Revlon Inc. reported further dips in net sales for the second quarter, due to declines in some of the company’s smaller brands and the fragrance segment. Revlon’s net sales fell 6 percent to $570.2 million in the quarter, but the net loss narrowed from $122.5 million in the prior-year period, to $63.7 million. Net loss per common share was $1.20. The biggest decline in sales came from Revlon’s portfolio segment, which includes brands like Cutex and Mitchum. Sales in that business were down 19.6 percent in the quarter, to $118.7 million. Sales in the fragrances division also suffered, dropping 12.9 percent to $82.6 million. Revlon brand sales, including color cosmetics, hair color and beauty tools, were down 2.6 percent. Elizabeth Arden was the only segment that saw gains, with a 10.7 percent increase in sales to $117.4 million in the quarter. Arden’s success was driven by sales of skin care, including Ceramide and Prevage. The portfolio segment struggled because of lower sales of CND nail products, Almay and SinfulColors, Revlon said. The company blamed fragrance declines on lower sales in the mass retail channel, partially because of store closures. Revlon brand net sales dipped because of lower sales of color cosmetics and category

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