Sales: $1.2 billion
$1.2 billion. Net income: $48.8 million
Ronald O. Perelman, chairman; 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; Robert K. Kretz- man, executive vice president, human resources, chief legal officer and general counsel; Karl Obrecht, executive vice president, North American sales; Alan Meyers, executive vice president and chief science officer; Manuel Blanco, senior vice president and managing director, Latin America; John Butcher, senior vice president, new product support and engineering; Arthur Franson, senior vice president, worldwide manufacturing; Elise A. Garofalo, senior vice president, treasurer and investor relations; Graeme Howard, senior vice president and managing director, Asia Pacific; GinaMastantuono, senior vice president, corporate controller and chief accounting officer; Mark M. Sexton, senior vice president, taxes; Michael T. Sheehan, senior vice president, deputy general counsel and secretary; Simon Worraker, senior vice president and managing director, Europe
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
Revlon—ColorBurst and Mineral Lipglaze lipsticks, PhotoReady makeup, powder and translucent finisher, Luxurious Color eye shadow, Age Defying Spa Face Illuminator, Illuminance Crème Shadows, DayDreamer color cosmetics collection, Grow Luscious by Fabulash mascara, Just Bitten Colorstay lipstain, Scents of Summer nail enamel; Almay—Intense i-Color eyeshadow, mascara and eyeliner, Smart Shade anti-aging makeup, One Coat Dial Up mascara; Mitchum—Smart Solid Clinical Performance antiperspirant and deodorant
Sales fell 3.8% and net income slipped nearly 16%. Of course, for Revlon, that’s not so bad. In fact, Revlon president and chief executive officer Alan T. Ennis, insisted that these results, “demonstrate the continued execution of our business strategy.”
On the plus side, the company did manage to reduce debt by $81 million.
U.S. sales fell 4.4% to $747.9 million, driven primarily by lower net sales of Revlon and Almay color cosmetics and Mitchum antiperspirant deodorant, partially offset by higher net sales of Revlon ColorSilk hair color. Revlon continued to lead the mass lip segment in 2009 with a 22.3% share, driven by the success of Revlon ColorStay Ultimate liquid lipstick, which made ACNielsen’s top new product list. Strong sales of Revlon Crème Gloss and Revlon Matte lipstick added to Revlon’s lip segment results. In the eye segment, Revlon dollar volume increased 4.2% as Revlon DoubleTwist mascara and a range of eyeliners continued their strong performance. In the face segment, Revlon benefited from the new Revlon Age Defying Spa range and the new Revlon ColorStay Minerals introductions. In the nail segment, Revlon Core Nail Enamel continued its strong performance with dollar volume growing 18.1% for the year and 32.7% for the fourth quarter.
International sales fell 2.9% to $548 million. Higher sales of Revlon ColorSilk hair color, Mitchum antiperspirant and deodorant and Revlon color cosmetics, were partially offset by lower net sales of certain beauty care products and Almay color cosmetics. By region, sales in Asia Pacific and Africa increased less than 1% to $266.7 million. Sales in Europe, Canada and the Middle East fell 14.1% to $172.4 million. Latin American sales increased 10.7% to $108.9 million.
Revlon recently rolled out the Daydreamer Collection.
Novel New Products
In the first half of 2010, Revlon rolled out several new products including Revlon PhotoReady Makeup, which is said to contain innovative photochromatic pigments that bend and reflect light to give a flawless, airbrushed appearance in any light. Revlon ColorBurst Lipstick, available in 20 shades, has Elasticolor technology that provides an instant burst of rich, true color that feels virtually weightless on the lips.
New from Almay is Smart Shade Anti-Aging makeup, which contains skin-sensing microspheres and instantly reduces the appearance of lines and wrinkles. New from Mitchum is Smart Solid Clinical Performance, a clinical strength antiperspirant/deodorant in an invisible stick form available for both men and women.
For the first quarter of 2010, Revlon’s sales rose less than 1% to $305.5 million. Net income fell from $12.7 million to $2.2 million. Net income in the 2010 first quarter included $9.7 million of expenses associated with the March 2010 refinancing.