Latest victim of retail downturn, Revlon tumbles 23 percent
By Noel Randewich
"Most of our U.S. retail partners experienced lesser foot traffic, store closures and shopper channel shifting to online and beauty specialty retail"
Revlon said its quarterly revenue rose 34.3 percent to $595 million, helped by the acquisition of Elizabeth Arden last year.
But on a pro forma basis, sales dropped 5.8 percent year over year, a major setback for a company that was once a top name in the world of beauty products.
Source: Reuters
http://www.reuters.com/article/us-revlo ... ess%201700
