Revlon sees profits fall
Revlon has announced a fall in full year and fourth quarter sales, but remains upbeat on its 2009 predictions.
Revlon has announced a fall in full year and fourth quarter sales, but remains upbeat on its 2009 predictions.
According to the manufacturer, net sales in 2008 fell by $20.3m to $1,346.8m, a decrease of 1.5% on the previous year’s figures. Foreign currency fluctuations had a negative impact on net sales, although net sales of the Revlon colour brand increased by 9%, driven by new product launches.
Fourth quarter results were also down on the previous year, with net sales for the period falling 10.5% to $334.2m, compared to the same quarter in 2007.
Despite the results, Revlon president and ceo, David Kennedy said the company was responding to current economic circumstances: “While we expect economic conditions and the retail sales environment to remain uncertain around the world, we believe we are better positioned than in many years to maximise our business results in light of these conditions.”