Revlon, Inc.'s preliminary second quarter sales rose 1.3% to $489 million, but operating income fell 15% to $52 million. According to Revlon’s President and Chief Executive Officer Fabian Garcia, growth was fueled by product innovation and strong performance by established brands in both the consumer and professional segments. But the big news during the recently completed quarter was the acquisition of Elizabeth Arden.
"We are very excited about the strategic long-term growth platform that this acquisition will provide for us to enter into new categories, channels and markets," he said. "We expect to close this acquisition by the end of 2016, subject to customary closing conditions.”
Within its existing business, Garcia said the most salient innovations in its consumer segment included the new Revlon Mascara collection, Ultra HD Matte lipcolor and the Kylie SinfulShine Collection. Mitchum antiperspirant deodorants and Cutex nail products also performed well. In the Professional segment, American Crew’s line of special edition grooming products honoring Elvis Presley continued to register strong sales in salons, as did Revlon Professional hair products.