Revlon, Inc. announced net sales of $326.2 million for the third quarter 2009, compared to $334.4 million in 2008, a decrease of 2.5%. Excluding unfavorable foreign currency fluctuations of $5.8 million, third quarter of 2009 net sales declined 0.7%.
“We continued to execute our business strategy and delivered improved profitability and cash flow in the third quarter of 2009," said Alan T. Ennis, president and CEO, Revlon. "The organizational restructuring that we fully implemented earlier this year is delivering cost savings in line with our expectations, and is enabling us to continue to strengthen our brands and become a stronger, more financially sound company. The rate of growth in the U.S. mass market color cosmetics category, according to ACNielsen, slowed sequentially in the third quarter of 2009. However, we remain focused on the key drivers of our business—including delivering innovative, high-quality, consumer preferred products.”
The net sales decrease was driven, primarily, by lower net sales of Revlon color cosmetics, partially offset by higher net sales of Revlon ColorSilk hair color.
The complete report is available here.
