By
Reuters
Reuters
Published
Oct 29, 2009
Oct 29, 2009
Revlon posts lower third quarter profit
By
Reuters
Reuters
Published
Oct 29, 2009
Oct 29, 2009
Oct 29 (Reuters) - Cosmetics maker Revlon Inc (REV.N) posted a lower quarterly profit due to weak sales at its color cosmetics and Revlon Beauty Tools segments.
Revlon.com |
The company, which sells its products under brands such as Charlie and Mitchum, earned $23.1 million, or 45 cents a share, compared with $29.2 million, or 57 cents a share, a year ago.
Net sales fell 2.5 percent to $326.2 million.
"The rate of growth in the U.S. mass market color cosmetics category, according to ACNielsen, slowed sequentially in the third quarter of 2009," Chief Executive Alan Ennis said in a statement.
Shares of the company, controlled by financier Ronald Perelman, closed at $5.75 Wednesday 28 October on the New York Stock Exchange. (Reporting by Vidya Lakshmi in Bangalore; Editing by Ratul Ray Chaudhuri)
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