Revlon reports 1.8% drop in fourth quarter net sales
The what? Revlon reported net revenue of $615.2 million in the fourth quarter, compared to $626.6 million a year earlier, a decrease of 1.8%.
The details Reported operating income reached US$67.3 million in the fourth quarter of 2021, compared to US$28.4 million in the prior year period, an improvement of US$38.9 million .
Looking at segments, Revlon’s net sales reached US$206.1 million, an increase of 0.2% year-on-year. Profit reached $41.5 million, an increase of 8% year-on-year.
Elizabeth Arden net sales were down 4.7% to $172.6 million, the Portfolio segment increased 8.2% to $111.7 million, while Fragrance segment net sales were up. decreased to $124.8 million, a decrease of 8.7%.
Fiscal 2021 net sales increased 9.2% to $2,078.7 million, with reported operating income reaching $103.2 million in 2021 from a loss of $226.3 million dollars the previous year.
The why ? Debra Perelman, President and CEO of Revlon, said, “Consumer demand for our brands remained strong in the 4th quarter, as evidenced by retail sales growth of 30% year-over-year. of Revlon Color Cosmetics in the important mass distribution channel in the United States.
“While we saw strong consumer demand, we also continued to experience industry-wide supply chain issues, which impacted our ability to fully meet customer orders. to support this consumption.Starting in the 3rd quarter, our business was impacted by rising prices of key ingredients and components, logistical challenges in all modes of transport delaying the receipt of goods and labor shortages persistent.