Boots launches Protect & Perfect skin care regime
LONDON U.K. beauty retailer Boots has announced the launch of an entire Protect & Perfect skin care regime following the success of its No7 Protect & Perfect Beauty Serum in 2007.
The range, which has been formulated using a blend of next-generation antioxidants, has been expanded to include a day cream moisturizer with SPF 15, the No7 Protect & Perfect Night Cream, an eye cream and a body moisturizer.
Each product contains the Protect & Perfect firming complex with lipo-peptides and white lupin extract to help improve the appearance of skin after UV damage to collagen and elastin.
The No7 Protect & Perfect Beauty Serum shot to fame in the summer of 2007 after a television documentary stated that it found the skin care product scientifically proven to repair photo-aged skin and improve the fine lines associated with photo-aging. Sales of the product increased by nearly 2,000 percent the day after the television program, with 13 being sold every minute, according to Boots. At the height of the frenzy, Boots’ production facilities were working around the clock to hit a target of 1,000 bottles per hour.
Revlon’s 2007 performance best in years
NEW YORK Increased sales, restructuring efforts and cost control helped improve financial performance in 2007, according to Revlon president and chief executive officer David Kennedy.
“We are executing our strategy and our financial results in 2007 were our best in many years. We generated $224.5 million in adjusted EBITDA and our negative free cash flow was $13.8 million,” stated Kennedy.
For full year 2007, sales rose 5.2 percent to $1.4 billion compared with $1.3 billion in the year-ago period. Net sales for the full year 2006 were reduced by $19.7 million from Vital Radiance, the discontinued cosmetics line geared toward women aged 50 and older.
In the United States, sales for the year rose 5.1 percent to $804.2 million, compared with sales of $764.9 million in the year-ago period. Net sales in the United States for full year 2006 were reduced by $20.2 million from Vital Radiance.
Net loss for the year narrowed to $16.1 million, or 3 cents per share, compared with a net loss of $251.3 million, or 60 cents per share, in the year-ago period.
For the fourth quarter, the company swung to a profit. Net income totaled $40.8 million, or 8 cents per share, compared with a net loss of $5.5 million, or 1 cent per share, in the year-ago period. The current fourth quarter included restructuring expenses of $0.4 million. Last year’s quarter was unfavorably impacted by $20.8 million in restructuring and Vital Radiance-related expenses.
For 2008, the company is planning to introduce a new line up of products for Revlon and Almay color cosmetics.
FTC chairman to move to P&G
WASHINGTON Federal Trade Commission chairman Deborah Platt Majoras will become general counsel of Procter & Gamble, the FTC and P&G announced on Thursday.
The vacated position will likely be filled by William Kovacic, one of the two remaining Republicans on the commission, which also has one Democrat and one independent.
Before heading the FTC, Majoras was principal deputy assistant attorney general of the Department of Justice’s Antitrust Division and prior to her government service, was an antitrust partner with law firm Jones Day.
After nearly four years at the FTC, Majoras will begin work on June 1 as P&G’s vice president and general counsel based in Cincinnati, said company spokeswoman Robyn Schroeder.