Revlon Q1 net sales up 2.1%
Growth led by the US, Canada and Latin America
US beauty company Revlon’s net sales for the first quarter of 2013 climbed 2.1% to $331.9m compared with $330.7m last year. The increase was attributed to higher net sales of Revlon and SinfulColors colour cosmetics, along with the inclusion of the net sales of Pure Ice, which the company acquired in July last year. Operating income meanwhile, came to $47.3m while net income totalled $8.5m.
Geographically, net sales during the quarter grew in the US, Canada and Latin America. Asia Pacific and EMEA (Europe, Middle East and Africa) on the other hand, fell 4.5% and 11.1% respectively.
Commenting on the results, Revlon President and CEO Alan T. Ennis said: "Our strategic goal is to drive profitable growth and, in the first quarter of 2013, we grew net sales by 2.1%. We introduced several successful, consumer-preferred products in the marketplace and we increased support behind our brands. Our SinfulColors acquisition performed very well, and we are on track with the integration of our more recently acquired Pure Ice brand, which is also performing well.”
