Sales Rise 2.1% at Revlon
Revlon, Inc. posted results for the first quarter ended March 31, 2013. Net sales increased 2.1% to $331.9 million.
Revlon President and Chief Executive Officer Alan T. Ennis said, “Our strategic goal is to drive profitable growth and, in the first quarter of 2013, we grew net sales by 2.1%. We introduced several successful, consumer-preferred products in the marketplace and we increased support behind our brands. Our SinfulColors acquisition performed very well, and we are on track with the integration of our more recently acquired Pure Ice brand, which is also performing well. Lastly, in the quarter, we improved our capital structure by refinancing our senior notes and amending our bank term loan, reducing interest rates and extending maturities on our debt.”
In the US, net sales rose 4% to $192.1 million. The increase was primarily driven by higher net sales of Revlon and SinfulColors color cosmetics and the inclusion of the net sales of Pure Ice, partially offset by lower net sales of Almay color cosmetics and Revlon ColorSilk hair color.
Internationally, Revlon had mixed reviews. In Asia Pacific, net sales fell 4.5% to $53.6 million. In Europe, Middle East and Africa, net sales slipped 11.1% to $40.7 million; while in Latin America and Canada, net sales rose 3.2% to $45.5 million. Net sales in Venezuela were essentially unchanged compared to the same period last year as higher selling prices reflecting lower sales volumes largely offset market conditions and inflation.
blog comments powered by Disqus