Revlon has reported its results for the first quarter of the current financial year. The US beauty behemoth saw sales fall 1.3 percent to US$553.2 million in the three months ended March 31, 2019 (+2.3 percent in constant currency terms).
However, there were positive signs among the company’s balance sheet, with both Revlon and Elizabeth Arden divisions delivering ‘strong net sales growth’ versus the prior-year period. Operating loss was considerably improved at US$23.2 million compared to US$61.7 million in the same period last year while adjusted EBIDTA stood at US$38.8 million, compared to US$4.2 million during the prior-year period.
“We are very pleased with the continued momentum in our business during the first quarter of 2019 driven by strong growth in Revlon and Elizabeth Arden. We also remain encouraged by the positive consumer response to our first half 2019 new product introductions. Our strategic focus areas of e-commerce, Elizabeth Arden skin care, China and Travel Retail continued to perform exceedingly well, and as a result of improved operational performance, we achieved our third consecutive quarter of year-over-year Adjusted EBITDA growth,” said Debra Perelman, President and CEO of Revlon.