Revlon has announced its results for the second quarter of the current financial year.
The US make-up giant saw sales fall 6 percent (reported) to US$606.8 million as compared to the same quarter a year ago when sales totalled US$645.7 million. Revlon attributed this to the Oxford, N.C. SAP service level disruptions and the loss of certain licenses in the fragrance segment.
Operating loss for the quarter stood at US$58 million compared to an operating income of US$5.2 million in the prior-year period – again blamed on SAP service disruptions as well as costs related to reacquiring certain Elizabeth Arden trademark rights.
Reported net loss accelerated 235.6 percent to US$122.5 million compared to US$36.5 million in the equivalent timeframe for 2017.
“Despite SAP service level disruptions at the Oxford, NC plant and other broader market impacts, we are starting to see the positive effects of our strategic investments on our growth priorities. Our strategy continues to focus on strengthening our brands and enhancing the avenues through which we communicate and connect with our consumers. We are focused on ensuring broad availability of our products where the consumer shops in both brick and mortar and online. We are seeing strong growth in e-commerce and innovation, including a very positive response to the launch of Flesh, our new in-house incubated brand. We continue to build strategic capabilities and partnerships to position the company to win over the long term,” said Debra Perelman, President and CEO of Revlon.