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 story : Revlon launches turnaround program focused on the namesake and Elizabeth Arden brands #FinanceUSA #StockMarketNEWS Revlon Inc. stock fell 5.3% in Monday premarket trading after the beauty company

@stockMarketNEWS Mon 10 May, 2021

Posted in: #FinanceUSA #StockMarketNEWS

Revlon launches turnaround program focused on the namesake and Elizabeth Arden brands #FinanceUSA #StockMarketNEWS
Revlon Inc. stock fell 5.3% in Monday premarket trading after the beauty company reported first-quarter earnings and sales that fell short of Street expectations. Net loss totaled .4 million, or .79 per share, after a loss of 6.6 million, or .02 per share, last year. Sales of 5 million were down from 3 million last year. The FactSet consensus was for a loss of .08 per share and sales of 0 million. E-commerce net sales increased to 13% of total sales from 12% of net sales last year. The beauty company announced the Revlon Global Growth Accelerator Program, a transformation designed for margin and revenue growth. "This will enable the company to maximize the potential of our iconic brand portfolio with a focus on Revlon and Elizabeth Arden in key markets as well as continue to expand our digital and e-commerce capabilities," said Chief Executive Debra Perelman in a statement. The company experienced double-digit net sales growth in its Elizabeth Arden and fragrance businesses in the first quarter. Revlon stock has slumped 6% for the year to date while the S&P 500 index is up 12.7% for the period.


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