Revlon, Inc. reported that its loss narrowed in the third quarter even as revenue fell, sending shares down 7.7%. The company’s net loss was $65.4 million, or 18 cents per share, in the three months ended Sept. 30, compared with $91.6 million, or 25 cents per share, in the 2004 period. The year-ago loss reflected $59 million in costs related to Revlon’s refinancing. Sales fell almost 7% to $275.3 million.
The company, which is revamping its Almay cosmetics line and launching a new brand for women over 50, indicated that the drop in revenue reflects provisions for returns and allowances related to its brand initiatives, as well as lower shipments in North America.
Revlon Narrows Third Quarter Loss to $65 Million
Published December 2, 2005
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