With color cosmetics out of favor during the pandemic, Revlon's second quarter sales fell 39%, the company said. Q2 sales fell to $347.6 million, but the company said sales would have been flat without the impact of COVID-19. The company said operating loss increased to $58.8 million in the second quarter of 2020, compared to a $9.4 million operating loss during the prior-year period

Want some good news? E-commerce net sales increased approximately 58% versus the prior-year period and represented approximately 18% of second quarter 2020 net sales, versus approximately 7% in the prior-year period. 

"Although our business faced significant headwinds in the second quarter of 2020 as result of the ongoing global COVID-19 pandemic, we took aggressive steps to mitigate these effects, which enabled us to greatly reduce the pandemic’s impact to our profitability in the quarter," said President and CEO Debra Perelman. "As a result, our Adjusted EBITDA declined a modest 3% versus the prior-year quarter. We continue to deliver against the objectives of our Revlon 2020 Restructuring Program, which include rightsizing our organization to drive improved profitability, cash flow and liquidity. We are managing the business to conserve cash and liquidity, as well as focusing on stabilizing the business, growing e-commerce and preparing the foundation for our future growth. The Exchange Offer that was announced on July 27, 2020 is consistent with this strategy to protect our liquidity during this uncertain time in the world and in our industry. With our new streamlined operations and lower cost base, we are confident that Revlon is positioned to continue to serve our consumers and customers and drive value for all our stakeholders.” 

For the six months, sales fell nearly 30% to $800 million and net losses more than doubled to $340 million.