Beauty giant Revlon swings to Q4 loss
US beauty giant Revlon swung to a loss in the fourth quarter of the year as its revenue fell 4.1 percent.
In the quarter ended December 31, the company made a net loss of 178.5 million dollars compared to a profit of 9.9 million dollars in the prior-year period, which it said was primarily due to 172.7 million dollars in charges linked to its Chapter 11 filing.
Net sales for the quarter dropped to 589.8 million dollars from 615.2 million dollars a year earlier.
Looking at the full year, the New York City-based company’s net loss widened to 673.9 million dollars from 206.9 million dollars the prior year, while sales dropped 4.7 percent to 1.98 billion dollars.
It comes after Revlon received approval for a 1.4 billion dollar bankruptcy loan last August.