The recent release of Revlon’s Q1 numbers brought a mix of both improvement and disappointment.
While the beauty brand was able to substantially grow from the same time one year prior, they were in tern unable to do so likewise for their numbers from the previous quarter.
Revlon announced that net sales rose to $595 million, roughly 35 percent higher than the $439.6 million from Q1 2016. Counterbalancing this news is their net loss, which extended to $37.4 million from the $21.9 million of Q4 2016.
The result took effect for their shareholders as well. During midday trading, Revlon’s share price fell to $19.90, representing a 21 percent decrease.
President and chief executive officer, Fabian Garcia, spoke following the company’s announcement.
“While we are disappointed with our U.S. results, our brands continue to achieve strong international net sales growth across all segments and despite the U.S. retail environment, our iconic beauty brands have demonstrated resilience and have maintained market share in the U.S,” added Garcia. “We remain committed to our long-term strategy to restore brand growth in the U.S. by enhancing our brands’ relevance with differentiated innovation, elevating in-store and online experiences and digital-first engagements, and building our presence in fast growing channels, as well as accelerating our international expansion, with a focus on Asia and Latin America.”
With the progress shown from their international sales, it will be up to Revlon to do the same in the United States in order to see encouraging signs following the end of Q2.