Currently reviewing the possibility of a sale, Revlon announced declining revenues and widening losses for Q3 on Friday, as weaknesses in its North American business took their toll on the company’s top line.
Following the announcement earlier this month that the cosmetics company would be exploring its options, Revlon is reportedly planning to approach potential bidders after the Labor Day holiday in September.
Revlon Inc reported on Monday a net sales drop for the fourth quarter 2018, but narrowed profit losses, adding that it expects to disclose "material weakness" in its internal control over financial reporting for 2018.
CVS is making progress toward its goal of fully transparent beauty imagery by the end of 2020, announcing that nearly 70 percent of its beauty imagery nationwide will be compliant with its new CVS Beauty Mark standard.
The NYC-based beauty company reported a significant narrowing of Q3 net losses on Friday, thanks to cost-cutting measures which compensated for faltering sales and are soon to be expanded through a new optimization plan.
Revlon Inc named Debra Perelman its first female chief executive officer on Wednesday, as the cosmetics maker controlled by her billionaire father, Ronald Perelman, tries to keep up with changing consumer preferences.
The New York-based cosmetics group reported its financial results for the first quarter 2018 on Thursday, recording widening losses due to falling sales, particularly in North America and its fragrance segment.