Troubled cosmetic giant Revlon has set the terms for its share
offering, a move that aims to repay mounting debts due to the
failed launch of its Vital Radiance cosmetic line for older women
earlier this year.
Troubled cosmetics giant Revlon says it is about to refinance its
existing credit agreement as a means of strengthening its balance
sheet and increasing its investment levels, a move that will be
backed up by a share holder offering.
In answer to concerns over its financial position Revlon has taken
the decision to cut its workforce and drop the badly received Vital
Radiance cosmetics line for older women.
Mass cosmetics maker Revlon has said that president and chief
executive Jack Stahl will be leaving the company to be replaced by
CFO David Kennedy, as the company struggles with lackluster sales
and mounting debts.
Shares in US cosmetic player Revlon have continued to fall
dramatically following the cosmetic player's earlier forecast for
lower than expected growth for this year on the back of
disappointing sales on products aimed at older...
Revlon has reported a strong fourth quarter, with profits up an
impressive 38 per cent following strong sales of its Vital Radiance
line and a successful repositioning of its Almay brand.
