Revlon Reports Second Quarter Sales Down 2%

Revlon, Inc., New York, posted results for the second quarter ended June 30. Net sales declined 2% to $316 million. Internationally, net sales grew 12% to $109 million. Executives said this performance reflected higher returns and allowances and lower shipments in North America, partially offset by solid growth and favorable foreign currency translation.

“We remain focused on driving the long-term health of the company, and I am confident that the actions we are taking to strengthen our strategic and operational approach to the business will position Revlon for long-term, profitable growth,” commented Revlon president and chief executive officer Jack Stahl.

In terms of U.S. marketplace performance, ACNielsen said the color cosmetics category for the quarter declined approximately 3.4% versus the same period last year and was down 1.5% for the first six months of 2004. Combined share for the Revlon and Almay brands totaled 21.7% for the quarter, compared with 22.5% in the second quarter of 2003. In other categories, the company gained share in the quarter in hair color and beauty tools, while market share was essentially even for AP/Deos.

For the first six months of 2004, net sales grew 2% to $625 million, and sales in North America fell 4% to $413 million. Internationally, net sales were up 15% to $212 million. Operating income in the first six months of 2004 was $18.3 million, versus $7.3 million in 2003.