×
41 055
Fashion Jobs
ESTÉE LAUDER COMPANIES
Manager, Solution Architect- Omni Retail
Permanent · New York
TOM FORD BEAUTY
Vice President, Marketing, Tom Ford Beauty North America
Permanent · New York
ESTÉE LAUDER COMPANIES
Category Insights Manager - Supply Chain
Permanent · New York
ESTÉE LAUDER COMPANIES
Senior Account Coordinator, Estee Lauder Travel Retail – Americas
Permanent · Los Angeles
ESTÉE LAUDER COMPANIES
Manager, Product Manager
Permanent · New York
ALICE AND OLIVIA
Sales Supervisor - Town Center at Boca Raton
Permanent · Boca Raton
TIFFANY & CO
Coordinator, Human Resources
Permanent · New York
ROSS STORES
District Manager
Permanent · San Diego
ESTÉE LAUDER
Retail Beauty Sales Manager - Estee Lauder - (Henry Town) - Mcdonough, ga
Permanent · McDonough
BOBBI BROWN
Manager, Marketing - jo Malone London & Editions de Parfum Frédéric Malle, Travel Retail Worldwide
Permanent · New York
OLD NAVY
Loss Prevention Agent - Four Flaggs
Permanent · Niles
OLD NAVY
Unassigned Assistant Manager, Merchandising - The Plaza at Citrus Park
Permanent · Tampa
OLD NAVY
Assistant Manager, Customer Operations - Towne Ctr @ Laurel
Permanent · Laurel
OLD NAVY
Assistant Manager, Customer Operations - Memorial City Mall
Permanent · Houston
OLD NAVY
Assistant Manager, Merchandising - Freeport Vlg Station
Permanent · Freeport
OLD NAVY
Assistant Manager, Merchandising - sf Premium Outlet
Permanent · Livermore
OLD NAVY
Assistant Manager, Customer Operations - Arrowhead Crossing
Permanent · Peoria
OLD NAVY
Assistant Manager, Merchandising - Vintage Oaks
Permanent · Novato
OLD NAVY
Assistant Manager, Merchandising - Marketplace @ Hamden
Permanent · Hamden
OLD NAVY
Assistant Manager, Customer Operations - Lancaster Tanger
Permanent · Lancaster
OLD NAVY
Assistant Manager, Product Operations - Market at Birdcage
Permanent · Citrus Heights
OLD NAVY
Assistant Manager, Merchandising - Poyner Place
Permanent · Raleigh

Revlon reports Q3 loss, impacted by U.S. retail decline

Published
today Nov 3, 2017
Reading time
access_time 2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

U.S. cosmetics brand Revlon has seen its sales slump continue into the third quarter, ended September 30. A shift in consumer preferences towards prestige beauty has seen sales dwindle across multiple beauty and fragrance categories in Revlon Inc’s mass market segment, particularly in North America, where the continued nationwide retail slump has further exacerbated losses.  


North American sales declined by 25.3% in the consumer segment - Photo: Elizabeth Arden


EBITDA plummeted by 52.5% to $53.6 million, down from the previous year’s $112.9 million, while the group's net loss stood at $32.4 million on total revenues of $666.5 million.
 
“Although we continue to achieve strong sales growth for our core brands internationally, our overall results, which continue to be impacted by the Company’s performance in the U.S., were disappointing,” conceded Fabian Garcia, Revlon President and Chief Executive Officer.

Overall sales performance at the Revlon brand also suffered, decreasing 10.5% to $306.7 million, down from $342 million in the previous year. In North America, the decline deepened to 18.5%, and to 25.3% in the consumer segment. The Professional division also lost ground, sinking by 9.9% to $107 million, with nail brand CND and men’s grooming products brand American Crew also registering sales declines.

Internationally, the company fared a little better, with Revlon’s colour cosmetics unit boosting consumer segment net sales by 13% to $149.2 million. The business also benefitted from a strong appetite for Elizabeth Arden products in China and higher sales of Christina Aguilera perfumes in Germany.

However, it wasn’t enough to offset the sharp swing towards an operational loss.  Operating income disappeared: from a net income of $41.7million in 2016 to a net loss of $5.5 million in the third quarter of 2017, caused by the ongoing costs of restructuring related to the 2016 acquisition of Elizabeth Arden. The company has been mired in debt since the acquisition, which it anticipated would boost its prospects in the luxury skincare market.

Revlon is hoping that an innovative online approach will be the key to a turnaround, counting on increased digital engagement and an e-commerce push. “Our long-term transformation initiatives are designed to restore topline growth in the U.S. and support our plans for profitable, global expansion and ensure that we have the ability to successfully compete in a digitally-driven landscape, strengthen social media engagement and align technology platforms to support our strategy,” Garcia added.
 

Copyright © 2019 FashionNetwork.com All rights reserved.