10.28.10
Revlon, Inc. posted the latest results for the third quarter ended Sept. 30, 2010. Net sales fell 2.2% to $319.0 million, while operating income slipped 3% to $39.3 million. Net income decreased 9% to $12.5 million.
In the U.S., net sales fell 9.3% to $166.7 million. The decrease in net sales was primarily driven by Revlon color cosmetics and Almay color cosmetics.
Commenting on the announcement, Revlon President and Chief Executive Officer, Alan T. Ennis, said, “We continue to focus on building our strong brands and improving our organizational capability. In the third quarter, our innovative new product launches performed well, namely Revlon Grow Luscious mascara, Revlon Just Bitten lipstain + balm and our Almay franchise extensions.
“Our net sales during the third quarter were essentially unchanged year over year; we delivered growth in many of our markets globally, offsetting a decline in the U.S. In 2010, we continue to generate strong cash flow and have maintained highly competitive operating income margins while increasing brand investment.”
Ennis concluded, “We remain focused on delivering profitable net sales growth in all of our markets. We recently strengthened our senior management team, including the appointment of Julia Goldin as global Chief marketing officer. Under Julia’s leadership, coupled with our competitive pipeline of consumer-preferred new products planned for 2011 and beyond, we see a tremendous opportunity to further integrate marketing strategy and execution across all brands and regions.”
For the nine months ended in September, net sales stayed almost flat at $952.2 million. In the U.S., net sales decreased 6% to $528.1 million.
In the U.S., net sales fell 9.3% to $166.7 million. The decrease in net sales was primarily driven by Revlon color cosmetics and Almay color cosmetics.
Commenting on the announcement, Revlon President and Chief Executive Officer, Alan T. Ennis, said, “We continue to focus on building our strong brands and improving our organizational capability. In the third quarter, our innovative new product launches performed well, namely Revlon Grow Luscious mascara, Revlon Just Bitten lipstain + balm and our Almay franchise extensions.
“Our net sales during the third quarter were essentially unchanged year over year; we delivered growth in many of our markets globally, offsetting a decline in the U.S. In 2010, we continue to generate strong cash flow and have maintained highly competitive operating income margins while increasing brand investment.”
Ennis concluded, “We remain focused on delivering profitable net sales growth in all of our markets. We recently strengthened our senior management team, including the appointment of Julia Goldin as global Chief marketing officer. Under Julia’s leadership, coupled with our competitive pipeline of consumer-preferred new products planned for 2011 and beyond, we see a tremendous opportunity to further integrate marketing strategy and execution across all brands and regions.”
For the nine months ended in September, net sales stayed almost flat at $952.2 million. In the U.S., net sales decreased 6% to $528.1 million.