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Revlon Records Q3 2011
Posted: October 27, 2011
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In Latin America, net sales in the third quarter of 2011 were $25.6 million, a decrease of $3.7 million, or 12.6%, compared to $29.3 million in the same period last year. Excluding the unfavorable impact of foreign currency fluctuations, net sales in Latin America decreased $2.8 million, or 9.6%. The decrease was primarily due to lower net sales in Venezuela where the company has not fully resumed business since the June 2011 fire. Excluding Venezuela, net sales in Latin America increased as compared to the same period last year, primarily due to higher net sales of Revlon color cosmetics throughout the region and higher net sales of other beauty care products in Argentina.
In Canada, net sales in the third quarter of 2011 were $17.8 million, essentially unchanged year-over-year. Excluding the favorable impact of foreign currency fluctuations, net sales decreased $1.1 million, or 6.1%, primarily due to lower net sales of Almay color cosmetics.
The company continues to execute its five-part business strategy of build its strong brands, develop its organizational capability, driving the company to act globally, increasing its operating profit and cash flow, and improving its capital structure.
For more on Revlon’s third quarter 2011 financial results, as well as its first nine months 2011 results, visit the company's website.