Revlon’s Net Sales Drop 10.4 Pct Amid Pandemic

Revlon, Inc. reported as part of its financial results that as reported net sales dropped 10.4 percent in the fourth quarter of 2020 from the prior-year period, according to a Thursday (March 11) announcement.

The firm’s eCommerce net sales grew roughly 39 percent compared to the prior-year period and comprised roughly 20 percent of fourth-quarter 2020 net sales compared to 13 percent in the prior-year period.

Revlon, Inc. reported $205.6 million in Revlon segment net sales in the fourth quarter of 2020, marking a $37.1 million decline from the prior-year period. The company reported $181.1 million in Elizabeth Arden segment net sales for the fourth quarter of 2020, marking a $13.1 million rise compared to the prior year period.

In addition, Revlon, Inc. reported $103.2 million in Portfolio segment net sales for the fourth quarter of 2020, marking a $30.5 million decline in contrast to the prior-year period. And the company reported $136.7 million in Fragrances segment net sales for the fourth quarter of 2020, marking a $18.3 million decline in contrast to the prior year period.

As for its overall results for the fourth quarter, Revlon, Inc. reported 61 cents in adjusted diluted income per common share on $626.6 million in net sales.

The company had roughly $249.9 million of available liquidity as of Dec. 31, 2020, with the inclusion of $97.1 million in unrestricted cash and cash equivalents.

“We are seeing signs of broader positive momentum in the business, and with several major 2020 challenges behind us we believe we are well positioned to capture the reemerging opportunities in the beauty industry,” Revlon President and Chief Executive Officer Debra Perelman said in the announcement.

In separate beauty industry news, Kohl’s and Sephora are teaming for a long-term shop-in-shop strategy to bolster the selection of available beauty merchandise. The “Sephora at Kohl’s” concept brings together Kohl’s shopper base and omnichannel benefits with Sephora’s prestigious service and wide selection of beauty products. The completely immersive experience will take up 2,500 square feet at the front of the store.