Revlon Staves Off Bankruptcy, Reports Q3 With Notes Of Optimism
Revlon’s net sales fell approximately 20% to $477.1m in the third quarter, but the performance represents a sequential improvement compared with the second quarter, CEO Debra Perelman noted in a call with analysts. Having successfully closed a senior debt exchange offer on 13 November, Revlon will enter 2021 fully focused on strategic execution, she said.
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At-home nail and hair care and e-commerce were bright spots in a numbing second quarter for Revlon, which was hit hard by mass retail and salon channel closures at a time of ongoing transformation.
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On the bright side in North America, the Revlon brand has reclaimed its lead in the US mass lip segment, and both Revlon and Almay are off to strong starts in the fourth quarter, company leadership says. The firm continues to build the international and digital sides of its business in search of sustainable growth outside of Elizabeth Arden.