The mass-market beauty company had $96.8 million in sales for the first half of 2016.
The company blamed the sharp drop in sales on a “shortage” of inventory.
The 75-year-old artist enjoyed a Los Angeles moment this week.
It’s not certain how long his tenure will be, as part of the executive’s mandate is to “facilitate an ongoing succession process.”
With less than two months to go before the September issues close, the pressure is on to enter the last stretch of the year on a strong note with advertisers.
“When Attitudes Become Form: Bern 1969/Venice 2013” will open Saturday during the Venice Biennale.