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fashion-features

Revlon’s Deeper Red: Firm Posts 17th Straight Quarterly Loss

Revlon Inc.’s net losses for the fourth quarter widened more than sixfold to $179.4 million, extending its losing streak to 17 quarters in a row.

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"Time is not working for them, it’s working against them," he said. "They need product success stories quickly now."

Competing vendors have also been quietly contemplating space increases at retail as Revlon’s fortunes have waned, according to sources. No doubt, the contemplation has turned to salivation as the industry digested the firm’s results for 2002.

Revlon’s standing pat, though. "We are pleased with the initial results that we’re seeing in the market place," said Stahl on the call. "To drive the profitability of a consumer-branded company, you’ve got to start with the consumer and I think we’ve made a tremendous amount of progress over the past year in understanding the consumer, testing our market strategies, calling out required investment that’s going to drive the growth, securing funding around these strategies and getting great support from our retail partners."
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