Revlon launches turnaround program focused on the namesake and Elizabeth Arden brands

Revlon Inc. stock fell 5.3% in Monday premarket trading after the beauty company reported first-quarter earnings and sales that fell short of Street expectations. Net loss totaled $97.4 million, or $1.79 per share, after a loss of $216.6 million, or $4.02 per share, last year. Sales of $445 million were down from $453 million last year. The FactSet consensus was for a loss of $1.08 per share and sales of $520 million. E-commerce net sales increased to 13% of total sales from 12% of net sales last year. The beauty company announced the Revlon Global Growth Accelerator Program, a transformation designed for margin and revenue growth. “This will enable the company to maximize the potential of our iconic brand portfolio with a focus on Revlon and Elizabeth Arden in key markets as well as continue to expand our digital and e-commerce capabilities,” said Chief Executive Debra Perelman in a statement. The company experienced double-digit net sales growth in its Elizabeth Arden and fragrance businesses in the first quarter. Revlon stock has slumped 6% for the year to date while the S&P 500 index is up 12.7% for the period.

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