Nail Colors Drive Sales at Revlon
Revlon, Inc. posted results for the second quarter ended June 30, 2013. Net sales fell 2% to $350.1 million. Lower net sales in Venezuela and lower net sales of Almay color cosmetics were offset by higher net sales of SinfulColors color cosmetics and the inclusion of the net sales of Pure Ice. The decrease in net sales of Almay color cosmetics was driven primarily by a reallocation of brand support in the US from advertising to promotional allowances, which are a deduction in arriving at net sales.
In the US, net sales in the second quarter of 2013 were $203.9 million, essentially unchanged year-over-year. Higher net sales of SinfulColors color cosmetics and the inclusion of the net sales of Pure Ice were offset by lower net sales of Revlon and Almay color cosmetics.
In Asia Pacific, net sales slipped 2.7% to $54.3 million. In Europe, Middle East and Africa, net sales also fell, this time 3.8%, to $42.7 million. In Latin America and Canada, net sales also decreased 3.8% to $49.2 million.
Operating income rose in the second quarter of 2013 was $59.1 million, compared to $42.8 million in the same period last year.
Net sales in the first six months of 2013 rose slightly to $682.0 million, compared to net sales of $687.8 million last year. In the US, net sales in the first six months of 2013 inched up 1.9% to $396.0 million.
In Asia Pacific, net sales fell 3.6% to $107.9 million.
In Europe, Middle East and Africa, net sales leaped 7.5% to $83.4 million; while in Latin America and Canada, net sales fell 2.5% to $94.7 million.
Operating income was $106.4 million in the first six months of 2013, compared to $87.1 million in the first six months of 2012.
Commenting on the announcement, Revlon President and Chief Executive Officer Alan T. Ennis said, “Our net sales in the second quarter of 2013 were essentially unchanged year-over-year as we benefited from the inclusion of our Pure Ice acquisition offset by continued softness in our Almay brand and the negative impact of business conditions in Venezuela. We continue to support our brands at appropriate levels and are pleased with a number of our new product launches in 2013. As always, we remain focused on our strategic goal of driving profitable growth.”
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