May 10, 2018 8:52 AM ET|By:
Niloofer Shaikh, SA News Editor
Revlon (NYSE:REV) reports net sales declined 5.7% in
Q1, primarily driven by net sales declines in the Revlon, Portfolio and Fragrances segments.
Revlon segment net sales slipped 6% to $229.1M, primarily driven by lower net sales of Revlon color cosmetics and Revlon ColorSilk hair color as a result of the impact of service level disruptions at the Company's Oxford, N.C. manufacturing facility and consumption declines in North America.
Elizabeth Arden net sales up 10.4% to $105.7M, driven by higher net sales of Elizabeth Arden branded skin care products internationally.
Portfolio Segment net sales fell 8.3% to $134.5M.
Fragrances Segment net sales dropped 16% to $91.4M, driven by the loss of certain licenses in 2017 and lower net sales of designer fragrances, including Juicy Couture and John Varvatos licensed fragrances.
Total North America sales decreased 11.9% to $283.4M, whereas international segment rose 1.5% to $277.3M.
Adjusted gross margin rate improved 60 bps to 58.7%.
Adjusted EBITDA fell drastically 86.7% to $4.2M.