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Revlon Staves Off Bankruptcy, Reports Q3 With Notes Of Optimism

 
• By Ryan Nelson

Revlon’s net sales fell approximately 20% to $477.1m in the third quarter, but the performance represents a sequential improvement compared with the second quarter, CEO Debra Perelman noted in a call with analysts. Having successfully closed a senior debt exchange offer on 13 November, Revlon will enter 2021 fully focused on strategic execution, she said.

earnings report

Revlon, Inc. has staved off bankruptcy with a hard-won exchange offer with investors, giving the company additional time to turn around its beleaguered business.

According to its 13 November announcement, Revlon compensated holders at discounted rates for close to 70% of $343m in senior...

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More from Earnings

Ulta ‘Beauty Unleashed’ Investment Delivers In Fiscal Q1

 
• By Eileen Francis

Retailer Ulta Beauty, Inc. reports net sales in the fiscal first quarter beat consensus estimates, rising 4.5% to $2.85bn, as the company sees benefits of its recently announced ‘Beauty Unleashed’ initiative.

E.l.f. Plans To Acquire Hailey Bieber Beauty Brand For $1Bn

 
• By Eileen Francis

E.l.f. Beauty, Inc. has agreed to acquire celebrity and model Hailey Bieber’s rhode lifestyle beauty brand for $1bn, the firm reported during a 28 May fiscal fourth quarter earnings call, during which it also announced plans to raise product prices to ‘partially’ mitigate the impact of tariffs.

Shiseido’s Key Priorities: Recover Drunk Elephant, Accelerate NARS Amid US Prestige Slowdown

 
• By Eileen Francis

Shiseido’s Drunk Elephant premium skin care range – acquired in 2019 – and its NARS brand dragged sales in the Americas region down almost 20% in the first quarter, the firm reported in a 12 May earnings presentation.

IFF Offsets Tariffs’ Impact, But Discretionary Product Ingredients Face Risk

 
• By Eileen Francis

New York-based International Flavors & Fragrance, Inc. has shifted procurement to alternative supply sources and is balancing production across its global network in response to US tariffs, though company executives say ingredients for discretionary products face risk.

More from Business

L’Oréal Plans Purchase Of Color Wow Brand

 
• By Eileen Francis

L’Oréal has signed an agreement to acquire the Color Wow professional styling brand for an undisclosed price.

Scent News: Givaudan Buys Brazilian Fragrance House, DSM-Firmenich Taps Fine Fragrance President

 
• By Eileen Francis

Swiss fragrance company Givaudan SA will acquire Brazilian fragrance house Vollmens Fragrances, as DSM-Firmenich names Jonathan Simon president of fine fragrance.

Scope Launches Eyelid-Friendly Eye Cream In The UK

 
• By David Ridley

Eyelids have the "thinnest, most sensitive skin on the body" and are "highly prone to dehydration," which is why Scope has launched new Optase Life Sensitive Eye Daily Renewal Cream.