May 4, 2001
* Revlon Inc., the cosmetics maker controlled by financier Ronald Perelman, had a 10th straight quarterly loss on lower U.S. sales, though results were better than forecasts as it cut advertising and other costs. The first-quarter loss from operations for the maker of Almay makeup and Flex shampoo widened to $24.3 million, or 47 cents a share, from $23.7 million, or 46 cents, a year earlier. Revlon was expected to lose 69 cents. Sales fell 28% to $323.3 million.
November 2, 2000 |
Revlon Inc. said it will close three plants and fire about 1,115 employees, or nearly 14% of its work force, in a continued effort to cut costs, as it reported another quarterly loss. Revlon, the cosmetics company controlled by financier Ronald Perelman, said its loss from operations narrowed in the third quarter to $12.6 million, or 25 cents a share, from $160.3 million, or $3.13 a share, a year ago, a better performance than the 32-cent loss analysts expected.
November 16, 1999
Revlon Inc. reported a third-quarter loss from operations of $160.3 million, or $3.12 a share, in the third quarter, contrasted with an operating profit of $5.6 million, or 10 cents, a year ago, as sales dropped 18% to $452.4 million. Analysts had expected a larger loss of $3.15 a share. Revlon also warned that it will have a larger-than-expected loss in the fourth quarter as retailers cut excess inventories of its makeup and fragrances. It didn't give a figure. Analysts expect a loss of $1.
November 3, 1999 |
Revlon Inc. has hired Jeffrey M. Nugent as president and chief executive, hoping the former president of Neutrogena Corp. can give the cosmetics and hair-care products company a face lift. Revlon's current top executive, George Fellows, 56, submitted his resignation to the board after more than a year of dismal performance and a failed attempt to find a buyer. Revlon makes Revlon and Almay makeup, Flex shampoo and Charlie perfume.
October 2, 1999 |
Revlon Inc., whose cosmetics are the No. 1 brands in U.S. drug and discount stores, said Friday that it's in talks to sell its Latin American and professional brands, after billionaire financier Ronald Perelman failed to find a buyer willing to pay a high price for the struggling company. Revlon said it will keep its brands that generate 80% of sales, led by its namesake, Ultima II and Almay cosmetics.
April 8, 1999 |
After two weeks of rumors that sent Revlon shares soaring, billionaire Ronald O. Perelman put the cosmetic company's future up in the air Wednesday, announcing plans to sell one or more of its struggling businesses. Revlon, which makes Revlon and Almay makeup, Flex shampoo and Charlie perfume, has seen its shares surge 70% in the last two weeks amid rumors the company was a takeover target.