Top Companies Report

16. Revlon

June 28, 2012

New York, NY
212.527.4000
www.revlon.com
Sales: $1.3 billion.
Net income: $53 million.

Key Personnel: David L. Kennedy, vice chairman; Alan T. Ennis, president and chief executive officer; Chris Elshaw, executive vice president and chief operating officer; Steven Berns, executive vice president and chief financial officer; Xavier Garijo, executive vice president, chief supply chain officer; Lauren Goldberg, executive vice president and general counsel; Julia Goldin, executive vice president, global chief marketing officer; Robert K. Kretzman, executive vice president and chief administrative officer; Alan Meyers, executive vice president and chief science officer; Manuel Blanco, senior vice president and managing director, Latin America; John Collier, senior vice president and general manager, US; Elise A. Garafalo, senior vice president, treasurer and investor relations; Gina Mastantuono, senior vice president, chief accounting officer, corporate controller and international finance; Mark M. Sexton, senior vice president, taxes; Michael T. Sheehan, senior vice president, deputy general counsel and secretary; David Teasdale, senior vice president and managing director, Asia Pacific; Mark Wood, senior vice president and managing director, Europe, Middle East and Africa; Simon Worraker, senior vice president and general manager, Canada.

Major Products: Cosmetics, women’s hair color, beauty tools, fragrances, skin care, antiperspirants/deodorants and personal care products marketed under such names at Revlon, Almay, ColorSilk, Mitchum, Charlie, Gatineau and Ultima II.

New Products: Revlon—Colorstay Whipped makeup, Smoky shadow stick and Overtime Lengthening mascara, Just Bitten lipstain, Escapism color collection, Root Erase by Colorsilk hair color; Almay—Intense I-Color shadow stick, Smart Shade Perfect and Correct primer, Almay Clear Complexion; Sinful Colors (acquisition).

Comments: Sales rose 4.5% last year, but net income plunged more than 80%. The company credited the sales increase to the acquisition of Sinful Colors as well as higher net sales of Revlon and Almay color cosmetics and Revlon ColorSilk hair color. These increases were partially offset by lower net sales of Revlon beauty tools and lower net sales in Venezuela due to a June 2011 fire at the company’s local facility.

Taking a look at results by region, In the US, sales rose 3.9% to more than $757.4 million. The increase was primarily driven by the inclusion of the net sales of Sinful Colors and higher net sales of Almay color cosmetics and Revlon ColorSilk hair color. These increases were partially offset by lower net sales of Revlon beauty tools and Revlon color cosmetics.

In Asia Pacific, sales rose 11.2% to $233.4 million on favorable currency rates and higher sales of Revlon color cosmetics in China and certain distributor markets, partially offset by lower net sales of Revlon color cosmetics in Japan and Australia.

Sales in Europe, Middle East and Africa rose 4.1% to $208.7 million on foreign currency fluctuations along with higher sales of Revlon color cosmetics in South Africa and certain distributor markets, partially offset by lower net sales in Italy.

Latin American sales were flat at $107.2 million, as a 4.3% gain in sales was offset by currency fluctuation. Higher sales of Revlon color cosmetics were recorded throughout the region, with Argentina reporting particularly good results. These increases were partially offset by lower net sales in Venezuela where Revlon had not fully resumed business since the June 2011 fire.

In Canada, sales were flat at $74.7 million. Excluding the favorable impact of foreign currency fluctuations, sales fell 3.1%, primarily due to lower net sales of Almay color cosmetics.

First quarter 2012 sales slipped 1% to about $331 million, due to unfavorable currency fluctuations. Net income declined 18% to $8.5 million. The company said higher sales of Revlon color cosmetics and ColorSilk hair color, and the inclusion of SinfulColors sales for a full quarter were offset by lower sales of Almay color cosmetics and fragrances, as well as lower sales in Venezuela.


 

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