Charles Sternberg, Assistant Editor03.11.21
Revlon Inc. has announced its results for the quarter ended and year ended December 31, 2020.
Q4 Results
Net sales were $626.6 million in the fourth quarter of 2020, compared to $699.4 million during the prior-year period, a decline of $72.8 million, or 10.4%.
E-commerce net sales increased approximately 39% versus the prior-year period and represented approximately 20% of fourth quarter 2020 net sales, versus approximately 13% in the prior-year period. The Company experienced strong double-digit growth in most regions across its mass, prestige and professional e-commerce businesses.
Full Year Results
Net sales for the full year were $1,904.3 million in 2020, compared to $2,419.6 million during the prior year, a decline of 21.3%.
The lower net sales were driven primarily by the negative impacts associated with the ongoing and prolonged Covid-19 pandemic. This decline was partially offset by approximately 40% higher e-commerce net sales versus the prior year, which represented approximately 16% of full-year 2020 net sales, versus approximately 9% in the prior year.
"We are seeing signs of broader positive momentum in the business, and with several major 2020 challenges behind us we believe we are well positioned to capture the reemerging opportunities in the beauty industry. We continue to execute against the key pillars of our strategy, including driving growth in our iconic brands of Revlon and Elizabeth Arden, key markets such as China, and accelerating our e-commerce business. This remained our focus throughout 2020 and we are committed to delivering against these plans in 2021," said Debra Perelman, Revlon's president and chief executive officer.
Q4 Results
Net sales were $626.6 million in the fourth quarter of 2020, compared to $699.4 million during the prior-year period, a decline of $72.8 million, or 10.4%.
E-commerce net sales increased approximately 39% versus the prior-year period and represented approximately 20% of fourth quarter 2020 net sales, versus approximately 13% in the prior-year period. The Company experienced strong double-digit growth in most regions across its mass, prestige and professional e-commerce businesses.
Full Year Results
Net sales for the full year were $1,904.3 million in 2020, compared to $2,419.6 million during the prior year, a decline of 21.3%.
The lower net sales were driven primarily by the negative impacts associated with the ongoing and prolonged Covid-19 pandemic. This decline was partially offset by approximately 40% higher e-commerce net sales versus the prior year, which represented approximately 16% of full-year 2020 net sales, versus approximately 9% in the prior year.
"We are seeing signs of broader positive momentum in the business, and with several major 2020 challenges behind us we believe we are well positioned to capture the reemerging opportunities in the beauty industry. We continue to execute against the key pillars of our strategy, including driving growth in our iconic brands of Revlon and Elizabeth Arden, key markets such as China, and accelerating our e-commerce business. This remained our focus throughout 2020 and we are committed to delivering against these plans in 2021," said Debra Perelman, Revlon's president and chief executive officer.