Revlon shares drop 18 percent following sales decline

Revlon shares drop 18 percent following sales decline

Revlon shares have reported an 18 percent fall following Nielsen data that shows an extreme company’s sales decline.

Falling to a four-month low, data tracking sales in the four weeks ending 23 February showed a sales fall of 15 percent according to Jefferies analyst Stephanie Wissink, well ahead of competitors Coty, L’Oréal and e.l.f Beauty. This is also in addition to a 9 percent fall over the past 12 months.

The results are said to flag up a fall in sales for the Revlon brand due to lower net sales of Revlon color cosmetics. There has been speculation since the news that majority shareholder Ron Perelman may acquire additional shares in order to take the company private, according to Investing.com.

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