Manufacturing Industry
Revlon reveals new Q4 losses.(FINANCIAL NEWS)(Financial report)
Cosmetics International, March, 2007
What a year for Revlon. A year ago its stock price had soared to over $3.50 a share (though still a huge distance from its peak of over $50 several years ago). Now its shares are scraping $1.10 and more grim quarterly results aren't likely to help.
Revlon's latest fourth quarter results showed up losses of $5.5m compared to profits of almost $65m a year ago. Sales have slumped more than 13% to $370m though the last quarter, says Revlon, did see an improvement in its Almay line. However, its share of the US colour cosmetics market was badly hit, plunging 20%. The Vital Radiance line, aimed at the older woman, was also a severe, and now discontinued, setback.
However, not all institutional buyers such as pension funds, traditionally large holders of...
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