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Revlon Reports Q1 2017 Results, Faces Tough U.S. Retail Environment

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Revlon has released its results for first quarter 2017, which ended on March 31, 2017.

Net sales reached $594.9 million, which is a 35.3% increase when compared to first quarter 2016 net sales that reached $439.6.

Segment Results

  • Net sales for Revlon’s consumer segment were $290.4 million, which is a 9.3% decrease when compared to first quarter 2016 net sales that reached $320 million. The company attributes this to “continuing softness in consumption of core beauty categories in the mass retail channel in North America, which adversely impacted net sales of Revlon color cosmetics, Almay color cosmetics, SinfulColors color cosmetics and Mitchum anti-perspirant deodorants.”
  • The Elizabeth Arden segment saw net sales reach $192 million.
  • Net sales for Revlon’s professional segment $108 million, which is a 6.2% decrease when compared to first quarter 2016 net sales that reached $115.1. The company attributes this to the decline in sales of CND nail products and American Crew men’s grooming products, as a result of the timing of shipments.

Fabian Garcia, president and CEO of Revlon, stated, “While we are disappointed with our U.S. results, our brands continue to achieve strong international net sales growth across all segments and despite the U.S. retail environment, our iconic beauty brands have demonstrated resilience and have maintained market share in the U.S. We remain committed to our long-term strategy to restore brand growth in the U.S. by enhancing our brands’ relevance with differentiated innovation, elevating in-store and online experiences and digital-first engagements, and building our presence in fast-growing channels, as well as accelerating our international expansion, with a focus on Asia and Latin America.”