08.09.18
Revlon posted $606.8 million in net sales for the three months, down 6 percent from the prior year period -- with a net loss of $122.5 million, WWD reports. These numbers represent a 235 percent greater decline than the prior-year period’s $36.5 million loss.
Reports also state that the company's diluted loss per share was $2.32, compared to 46 cents for the second quarter of 2017 -- and that problems in the company's North Carolina manufacturing plant are partly to blame.
Street Insider says the decline is due, in part, to "service level disruptions impacting the Revlon and Portfolio segments, predominantly in the international market; and also the loss of certain licenses in 2018 in the Fragrance segment."
Fragrances posted the most significant decline, from 15.1 percent to $94.8 million in sales.
These declines were partially offset by net sales growth associated with new products in the Portfolio segment and global growth in the Elizabeth Arden segment.
Elizabeth Arden sales were up 4.9 percent, to $106.1 million, driven by higher sales of skin care products.
