Revlon announced net sales for its consumer segment decreased 0.9% to $348.2 million in the third quarter of 2014, as compared to net sales in the third quarter of 2013. Excluding the impact of foreign currency fluctuations, net sales during the third quarter of 2014 increased 2.0%, primarily driven by $8.8 million of favorable returns reserve adjustments in the U.S. as a result of lower expected discontinued products in the future related to the company's strategy to focus on fewer, bigger and better innovations.
The third quarter of 2014 also had lower net sales of Almay color cosmetics and SinfulColors color cosmetics, partially offset by higher net sales of Mitchum products in the third quarter of 2014. The consumer segment also includes the results of retail brands acquired in the TCG acquisition, which represented $19.6 million.
Professional segment net sales for the third quarter of 2014 were $124.1 million compared to the third quarter of 2013. On an foreign currency fluctuations basis, net sales during the third quarter of 2014 increased 2.0% primarily due to higher net sales of American Crew, Revlon Professional products and Creme of Nature products, partially offset by lower net sales of CND nail products.
The full report is available from Revlon.
