Revlon has released its financial results for third quarter 2017 ended September 30. 2017.
Revlon reported its net sales were $666.5 million, an increase of 10.2% compared to Q3 2016. While sales growth was strong, Revlon saw a net loss of $32.4 million in Q3 2017. In Q3 2016, reported net loss was $4.7 million.
Revlon's president and CEO, Fabian Garcia, stated, " Although we continue to achieve strong sales growth for our core brands internationally, our overall results, which continue to be impacted by the company’s performance in the U.S., were disappointing. We continue to make strategic investments in our capabilities to transform our business model with an ongoing focus on strengthening digital engagement with consumers, driving e-commerce and online sales growth, and accelerating the speed of innovation ... Our long-term transformation initiatives are designed to restore topline growth in the U.S. and support our plans for profitable, global expansion and ensure that we have the ability to successfully compete in a digitally-driven landscape, strengthen social media engagement and align technology platforms to support our strategy.”
