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Revlon Income Up in Q2 2010
Posted: July 30, 2010
Revlon posted second quarter net sales of $327.7 million, up from $321.8 million in the second quarter 2009. Operating income reached $47.3 million, compared to $26.6 million in the second quarter 2009.
"We continue to execute our business strategy with a keen focus on building our strong brands and further developing our organizational capability globally," said Alan T. Ennis, president and CEO, Revlon. "A key driver of our business is launching innovative, high quality consumer-preferred products to the global marketplace. During the quarter, we introduced Revlon Grow Luscious) mascara, Revlon Just Bitten lipstain + balm and Almay One Coat Dial Up mascara. Additionally, during the quarter, we signed one of Hollywood's hottest stars, Kate Hudson, as the newest global brand ambassador for our Almay brand. The economic environment remains challenging and we continue to manage our resources carefully, with a focus on the long-term, profitable growth of our brands."
The increase in net sales was driven by higher net sales of Revlon color cosmetics and Revlon ColorSilk, partially offset by lower net sales of Almay color cosmetics and Mitchum anti-perspirant deodorant.
As previously disclosed, effective for periods beginning January 1, 2010, the Company is reporting Canada separately and is reporting South Africa as part of the Europe, Middle East and Africa region. As a result, prior year quarterly and year to date amounts have been reclassified to conform to this presentation.
In the U.S, net sales in the second quarter of 2010 were $179.3 million, a decrease of $6.9 million, or 3.7%, compared to $186.2 million in the same period last year. The decrease was primarily driven by lower net sales of Almay color cosmetics due to the cycling of the 2009 launch of Almay Pure Blends, as well as lower net sales of Revlon beauty tools and Mitchum antiperspirant deodorant, partially offset by higher net sales of Revlon color cosmetics.