2016 proved to be a good year for Revlon. Inc. The company has released its results for the year ended on December 31, 2016 and reports state that the company saw net sales growth across all segments.
Full Year 2016
- Net sales were $2.3 billion in 2016, which is a 21.9% increase when compared with $1.9 billion in net sales during 2015.
- Revlon’s consumer segment net sales were $1.38 billion which is a 0.7% increase from 2015. The company attributes this to the global consolidation of the Cutex nail care brand, higher net sales of Revlon's beauty tools and Mitchum anti-perspiring deodorant.
- Revlon’s professional segment net sales were $476 million which represents a 2.4% increase compared to 2015. The company attributes this to higher net sales of American Crew men’s grooming products and Revlon Professional hair products, specifically Revlon Professional Be Fabulous and Revlonissimo Colorsmetique.
- The Elizabeth Arden segment saw net sales totaling $441 million with an increase of 1.8% over 2015. The company attributes this to an increase in net sales of Elizabeth Arden skin care and color cosmetics.
Fourth Quarter 2016
- Net sales were $800.7 million in fourth quarter 2016 which is a 53.4% increase compared to the fourth quarter 2015 net sales of $278.8 million.
- Revlon’s consumer segment net sales were $128.8 million, a 3.3% decrease when compared to 2015. The company attributes this to lower net sales of Revlon color cosmetics and Almay color cosmetics in the U.S.
- Revlon’s professional segment net sales were $119.3 million, a 1.8% increase when compared to fourth quarter 205. This is due to American Crew and Revlon Professional hair care products’ higher net sales.
- The Elizabeth Arden segment net sales were $306 million, a 2% decrease when compared to the same quarter in 2015. The company attributes this to the decrease in the net sales of celebrity and designer fragrances.
Fabian Garcia, president and CEO of Revlon, said, “All of our segments posted robust international constant currency net sales growth in 2016; while we faced some specific challenges in North America, as U.S. mass retailers were impacted by beauty consumption shifting to specialty and online channels, particularly during the year-end holiday season. Our strategy to drive long-term growth continues to focus on strengthening our iconic brands, continuing to build distribution in high growth channels, accelerating innovation and enhancing our digital capabilities."