US beauty company Revlon has seen its Q3 net sales fall 2.2% from $347m last year to $339.4m. Operating income, meanwhile, reached $41.8m which included $5.9m of expenses related to the acquisition of The Colomer Group.
Commenting on the results, Revlon Vice Chairman and Interim CEO, David L. Kennedy, said: "Our net sales during the third quarter increased modestly year over year as we grew in each of our international regions, offsetting lower net sales in the US. We maintained strong operating margins, which in part benefited from the execution of our 2012 restructuring plans. We will continue our intense focus on building our brands through innovative, high quality new products, effective brand communication, appropriate levels of advertising and promotion, and superb execution in all aspects of our business".
Earlier this month, Revlon completed its acquisition of The Colomer Group, including the Revlon Professional, Intercosmo, Orofluido and UniqOne hair care businesses, for a cash purchase price of $665m. Spain based TCG primarily sells professional products to salons but also sells certain brands directly into retail channels.