Revlon’s Q2 impacted by higher ad spend for consumer brands
NEW YORK — Revlon announced on Wednesday that second-quarter net sales in its consumer segment experienced a 2.5% boost thanks to higher sales of Revlon color cosmetics, Revlon ColorSilk and Sinful Colors, but a higher advertising expense impacted profits during the period.
“All-in-all, we consider this a good quarter. As you know, a significant part of our business in the United States is in the mass color cosmetic category, which is declining year-to-date into 2014 versus 2013,” Lorenzo Delpani, president and CEO, told analysts on Wednesday. “While the color cosmetics category in the United States continues to be softer, we remain focused on supporting our brands with the intent to grow market share and develop our business. To that end, we have increased advertising spend by $11.7 million in the second quarter versus last year, which was primarily in support of our consumer brands. Year to date, we have spent $20 million more than last year, which is a 16% increase.”
During the quarter, net sales in the consumer segment totaled $367.3 million, up 2.5%. The company attributed the increase to higher sales of Revlon color cosmetics, Revlon ColorSilk hair color and Sinful Colors, partially offset by lower net sales of Almay color cosmetics.
Consumer segment profit decreased 2% to $82.4 million, largely due to $11.7 million of higher advertising expense.
Triscuit, Martha Stewart continue to challenge fans in Summer Snackoff
EAST HANOVER, N.J. — Cracker brand Triscuit is partnering with Martha Stewart for the Triscuit Summer Snackoff, a series of recipe challenges. Stewart will continue to debut a new recipe each week until August 24 featuring a different seasonal ingredient on TriscuitSummerSnackoff.com
"This summer, I'm excited to share my favorite seasonal ingredients on a Triscuit. I can't wait to see how our fans share their creativity during the Triscuit Summer Snackoff," Stewart said, who kicked off the challenge with a Toasted Marshmallow Berry Bite recipe.
Most recently, Salmon and Minted Pea took the spotlight in the Snackoff. The recipe incorporates fresh peas, extra-virgin olive oil, skinless wild salmon fillet and lemon — among other ingredients — and can be found at TriscuitSummerSnackoff.com.
"We are always looking to our fans for new and inspiring ways to top our Triscuit crackers. Like Triscuit, Martha has roots in wholesome and inspired recipes, which is why it made sense for her to encourage others to share their favorite Triscuit recipes," said Patty Gonzalez, senior brand manager at Mondelez International. "We look forward to further growing our relationship with Martha Stewart in the coming months."