Restructuring charges at Revlon Inc. led to a third-quarter loss.
The beauty firm on Thursday reported comprehensive losses for the quarter totaled $15.1 million, or 29 cents a share, and included $23.1 million in aftertax restructuring charges and another charge of $2.2 million related to litigation. A year ago, losses totaled $7.9 million.
Net sales for the three months ended Sept. 30 gained 2.9 percent to $347 million, from $337.2 million in the year-ago period, boosted in part by the July acquisition of Pure Ice. Excluding the negative impact of foreign currency exchanges, sales rose 4.8 percent.
On a year-to-date basis, the company’s net sales have gained 3.2 percent, Revlon president and chief executive officer Alan Ennis told analysts during the company’s earnings call. “From a regional perspective, we grew net sales in the U.S., Canada, Asia-Pacific and Latin America. However, we continue to experience softness in continental Europe and consumer uncertainties persist in several other countries outside of Europe, including China and Australia.”
Referring to the slowdown in China’s economy, Chris Elshaw, executive vice president and chief operating officer, told WWD, “Foot traffic has decelerated throughout the year, so we are focused on selling more to each consumer and making sure we have the right portfolio.”
Ennis said for China and Europe, “It’s about staying in lockstep with the retailers, watching the consumer behavior and making sure we respond very quickly.”
The company also remains focused on reigniting growth of its Almay brand.
“We are advertising more [Almay] products than in the past and increasing our advertising spending,” Elshaw said. “At the same time, we’ve increased our promotional support.” As for the impact that spokeswoman Kate Hudson has had on the brand, Julia Goldin, the company’s global chief marketing officer, said, “She’s very relevant to our consumers. She’s someone they can connect with, but also who they see as aspirational. She’s not just an actress, she’s a lifestyle icon.” Goldin said Almay intends to leverage that lifestyle role in the coming year, and promised the brand has “great innovation coming for 2013.”
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)
@heriethpaul and @gracebol have a moment on the @victoriassecret fashion show 2017. See every look from the runway on WWD.com. Link in bio. (📷: @giovanni_giannoni_photo) #wwdfashion #victoriassecret #VSFashionShow
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia