REV - Earnings call transcript Q3 2019

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Operator

Hello, and welcome to the Third Quarter 2019 Revlon Earnings Call. My name is Lydia, and I will be your coordinator for today's event. Please note this conference is being recorded. And for the duration of your call your lines will be on listen only.

However, there will be an opportunity to ask questions at the end [Operator Instructions].

you conference. your hand to Eric now today's begin will over host, to Warren, I you. Thank

Eric Warren

you, Thank released morning, XXXX. call. for Good Lydia. quarter Earlier joining you the today, the for the September company ended its results everyone, financial XX, and thank

you've copy the a received earnings the company's a obtained can be on already website not release, If of copy at revloninc.com.

Victoria morning are and Officer; and President Debbie Chief Officer. Financial our this Dolan, Perelman, call Chief the On our Executive

based XXXX publicly forward-looking XXXX. on no include set from statements Laws. pursuant Form affect might forward-looking the factors them any company's are update forth The materially cause are Securities statements today is to that and SEC Securities Federal company under expectations discussion statements, company's provided current obligation obligations the the that to undertakes Litigation The and Reform Information except its U.S. could for Private the results to differ Act such actual in of XX-Q. forward-looking QX filings, including on

Remarks GAAP the adjusted are with financial and operating items reconciled the These today underlying not results defined non-GAAP are at directly tables non-GAAP of and end certain are exclude company's certain discussion reporting release. practices, the Consistent attributable past performance. results. earnings to the include release the measures in a will also non-operating in of

copied recorded. this throughout rounded. Please or today provided not that call have been also be amounts certain note The call should

the turn we'll that, to with over And Debbie. call

Debbie Perelman

our Both declines have international previously our channel and in we America Portfolio continue headwinds you, the quarter, our business, predominantly strategic in see America areas in in you joining business, momentum was our segments. markets in Thank and in for us. Revlon Despite offset we everyone with morning, e-commerce based our discussed you. the continued Eric. by Good thank North that and third key to North

adjusted EBITDA. on segments, well three in strong focused as of which profitability, driving as remain our four generating We improved we achieved

quarter relative the gross year we profit margins For as improved prior reported the to also saw quarter.

growth of grew investments, Elizabeth continues on Arden be Speaking year to first care, to which a driven constant international compared business and our XX% quarter. areas our to by currency basis, prior multiple skin

in XX%, XX%. Eight franchises; which Hour grew We which and Ceramide, saw all increased constant on currency which grew Prevage, key our X%, growth basis. a

in core perform Our new launched products exciting quarter, these And continue third to in of well the franchises. each innovations. we

progressive entered Ceramide, premium to Within launch our build Within extremely e-commerce we continue capsules. Eight quarter. treatment the within renewal our newest the especially Prevage, with which has China the of on Moisturizer, third in C franchise, well, segment been franchise Hour Great capsules channel. our And our Ceramide success into through of launched with we performing Daily we daily Vitamin X moisturizer Defense

of drive growth, first Tea our Arden Tea continue to the and and Arden the Elizabeth outpacing our versus consumption key flankers. sales Our Globally the net with White Fragrances third Green Elizabeth pillars has our particularly accelerated quarter launch growth. half, in of

EMEA we categories. Mitchum their where sales strong Additional double drivers in and growth brands for in primarily have Cutex, respective these net digit where are share market international saw

Turning to e-commerce.

launch all X% We of of continued e-commerce quarter prior in the now products. XX%, and in XXXX, growth representing the net assortment with part color Asia in the regions fueled to Revlon went live sales largest cosmetics grew key into quarter representing the geographic of net a of approximately expand the of China, e-commerce year was business. sales this Asia by July In curated which growth with approximately third X% versus component. Part the

foundation over anticipate and coming the about excited are building We results this months. the initial on

areas, continued own all grew prior double our key quarter. which digits performance over Despite total behind invest e-commerce the investment company to heavily results. continued year America impacted platforms, by North the challenging in Elizabetharden.com we of Additionally, our especially was our growth

of continued three in Almay the factors brands majority cosmetics negatively of inventory the in drove sales the the customer well America. increased the these and Revlon net by Almay management, impacted were Both category, both Revlon color decline We that our and as promotionality. North decline estimate as brands

Revlon we market. Touching brands, Despite mass occurred quarter primarily and American outpaced to declined the our net off into consumption strengthen Portfolio North prior challenging by where channel throughout overall and month space over driven in year sales SinfulColors Nielsen and continue shows Pure results, on XXXX. the other data Ice that also October, quarter, the of the both Almay early

performed have regain innovations latest to and lip outperforming exceedingly in our markets. Lip Almay categories innovations in continued In gloss one Revlon positioning remover makeup enabled and mass number perform the to well, our us well, category the Our market. the lip in the US

our to America. brand Turning Elizabeth in North Arden

our Our to due cosmetics net and was sales color decline skew large planned business. part in rationalization our efforts

increase shipments, blockbuster third by We our of also channels. continues profitability. timing within As business impacted very of the remain Though skews e-commerce in we to order it strong, traditional to was our unable decline particularly productive were the the our more to prioritize quarter holiday program. in offset

Fragrance in quarter of holiday our business the stabilized important the the season. North Finally, third America marks as beginning

of XX%, the Curve prestige XX% by prior our and driven channel. the sales net a in currency driven While XX% the Taylor quarter, basis. which our mass primarily respectively Fragrance brands experienced versus on was This declined, year timing constant grew business, innovation channels we Elizabeth of growth in by and

of e-commerce, Arden; namely, which which China, XX%; grew XX%. softness which America, encouraged and in driven the key in XXX%; In grew the the our expansion line by are summary, over travel we retail, in grew investment momentum businesses in top by despite Elizabeth our North strategic areas;

drove disclosed strong and flow to our growth deliver is cash the which In on well as resulting quarter, reduction. program, previously third we improved optimization cost the as profitability, cost from usage track

America, Revlon, Arden in remain Almay. by of decline, consumption in results customer number and our a including encouraged third North Although we factors our and impacted Elizabeth global management quarter external category inventory trends

the and process This over Victoria, turn at to working is as for appropriate we explore progressing are know and Goldman you you brand. I to with Sachs our the call Before will time. our update strategic alternatives we business

now over detail through will begin Q&A. call hand the I we walk to our you before of quarter to the financials third Victoria

Victoria Dolan

everyone And Thank on call. morning good you, Debbie. to the

me and segments, constant segment. were by by prior sales X% highlighting by On partially Elizabeth XXXX the Let decline an for decreased as of reported start our million, third growth third X% basis offset sales Arden quarter XXXX driven net a quarter. Revlon net our Portfolio declines our versus results. year a currency within in basis, quarter primarily On the $XXX

as profit to $XX improvement well our a year XXX lower million, improvement in point million was driven costs, by improvement initiatives, compared the profit overhead attributable margins. our was to the as reported including for XXXX gross profit $XX lower quarter cost SG&A by prior is operating operating driven As quarter. mainly in basis reduction The The program. lower expenses SG&A optimization

to We percentage a due expenses brand. support completed program constant period. year. also integration the prior while currency benefited the Arden the flat to integration brand dollars on that quarter are our note continue year In the relative to lower prior from essentially to We impacted Elizabeth that sales also support increased substantially net basis, we should

one-time benefit loss The $XX driven higher million US $XX income up Act period quarter. by income a the by higher prior net to the Tax million due partially the net offset quarter interest operating XXXX period. in associated taxes true year in the reported non-cash with a for year was $XX loss in and decline from in million prior was versus the As expense, the the higher

the in to third compared was $XX prior Finally, year quarter million adjusted period. of during EBITDA the million $XX XXXX

have versus period. imposed prior the of foreign and exchange, increased X% Excluding approximately impact year the tariffs EBITDA adjusted recently would

to Revlon cosmetics increased product, ColorSilk and a planned like decrease our in mass turn color net driven sales as US constant to $XXX North retail quarter actions to the an segment net XX% hair segment by representing levels. well of lower as America, would net of to net decrease XXXX due in I to currency basis. trade in The continued Next, lower sales Revlon weakness part inventory the of was Revlon million sales manage channel the in in primarily third were results. our sales promotionality company on due

driven Elizabeth Arden decreased a Revlon percentage net improvement as Prevage X% the profit net Ceramide sales well sales lower international territory. segment's as and were sales of as lower segment absolutely net sales our net in principally a both products, as brand. $X profit margins, gross we by and on higher to constant $XXX by basis. in support including of representing million continue the driven a as Elizabeth Fragrances skincare Revlon currency mainly Arden invest was and well as million, higher This brand to increase

due $XX segment to in gross year primarily million absolute the constant in both $XXX sales. year prior of segment basis. currency sales our of million, third an a were versus $X increase a net of period, Arden and increased million quarter on and Portfolio was net profit prior margins. Elizabeth XXXX XX% Net segment's a the percentage support sales Brand dollars higher as higher decrease profit versus for

increase emotionality. previously. of inventory This Portfolio discussed due net Ice polishes, and the segment support which million increased during decrease distribution launch well versus $XX year was segment's cycling as the nail Shellac against lower to period, CND our primary as sales an sales. profit nail source Lux where net as the was lower cosmetics and customer period of offset year as products a of the million, you partially prior prior $XX expenses lower was primarily are management, of we brand distribution of driven result by color by Pure with

This quarter to constant of regions in lower on and Finally, Spears branded were net was XXXX of Juicy million Couture of currency third decrease X% fragrances $XXX driven International representing of Fragrances due our sales segment our of net a innovation. sales by Britney basis. a the timing primarily decline

gross the XXXX profit segment $XX lower sale. $X brand a million, third result decreased expenses the compared overhead increase was of lower quarter support, net and margins, to million improved a period, prior the partially segment's as year of primarily by in profit offset Fragrances

nine used period in improvement the activities remediation and or attributed the cash $XXX period, during the of the implementation. first liquidity, year as incurred of the prior primarily ERP $XXX favorable XXXX one-time loss net capital of to the months XXXX as lower to to million related changes, an million, working well in Turning was costs operating versus

used of cash to in million year cash prior lower flow of in in months cash operating driven was decreased nine improvement by free in used The $XXX use the period. primarily the million Free and expenditures. XXXX capital $XXX activities compared was flow first usage

$XX XXXX, During capital million displays. permanent on quarters million in first $XX of the we and three spent expenditures,

equivalents; cash $XX of September of XXth, in credit capacity $X $XX $XXX of revolving company of approximately the less million available cash borrowing the borrowing As million consisting the $XX of had credit, under senior liquidity million. facility; available in million XXXX and float under available of capacity unrestricted line million

the previously of $XX cost realized between realize September $XX $XX $XXX our overall reduction $XXX optimize finally, improving track in as regard And particular are million margins gross financial of And to between strategy focus all announced million. been P&L, of approximately optimization on and reducing with cost in had to structure. XXXX, overhead of million to our lines to and million reductions We annualized which during and on of working program, remain year continuously XXth. with XXXX we expect cost deliver million our now

and be and realized sales, Approximately selling, XX% of to costs within cost the expected expenses. remainder general of annualized are administrative the reductions in

reminder, three focus major optimization areas. program a the As has XXXX

space. our greater First, network and efficiencies to manufacturing rationalizing efficiency and warehouse global locations supply drive drive global lower chain and office cost our to optimizing our

optimizing services, and third, standardizing by in global commercial structures by and enhancing simplifying business market shared capabilities. technology our reducing and to overhead and more regional leveraging streamlining processes. our our Second, And create costs execution effective organizational and functions and

now call to Debbie hand comments. will I for the over closing

Debbie Perelman

headwinds up core Thank America, we efforts closing, you, strategies, the and our questions. will focused and remain ongoing North continuing open company. transform the In our in call that, our we for despite brands Victoria. in With to investing now on

Operator

William of Bank William, of [Operator the Instructions] go please comes Our line question Reuter of first from ahead. America.

William Reuter

$XXX Good the terms optimization year. the XXXX or million million achieved morning. of a savings have of With always this program, expectation? pushback regard you to is the to it previous was And expectation timing was $XXX the in this that would

Victoria Dolan

-- that be achieved So, would all we When not until annualized designed was motion released projects dollars, be and in [technical expectation XXXX. place end always full million difficulty] thank and by you to able for the question. in XXXX. the would savings be But our the it the of of year plans

So how this and line is very with our much budgeted. expectations in we

William Reuter

data Almay is brand? recently of improved certain to a you the Revlon. lot Nielsen launches with well for performed product regard within board that then the have has due it to particularly and that Was those kind or and Okay, the segments mentioned across

Debbie Perelman

So, Bill, question. thank the you for

strength new We actually lip, lot important as quarter both are in the the a of on of position with continued has for about brands. to were and on both some have And I that very lip the excited Almay is which the launches lip product mentioned, very Revlon. one did we regain consumption, Revlon us our that number and showing strength throughout success and enabled in -- Revlon our gloss. We

to well continue as foundation perform the well With biodegradable regards that's which we in performing removers as very market. is very makeup have currently new in which well the market, to Almay, a

William Reuter

just me. of A then lot reducing are their for levels. Okay, retailers and inventory are lastly obviously

mentioned that participate that it you retailers that just the are the space to surprised was or I cosmetics was less overall category in I or decline? they're the that in is keeping they're on category that also hand? guess it of decline. allocating category reducing Is You inventory

Debbie Perelman

Yeah.

thank So you.

decline. For to the quarter continues category the

So retailers past. the about We in quarter. the do in the that X% they holding than it's inventory less declined see held are

William Reuter

you. I Thank Okay. pass to will others.

Debbie Perelman

Thank you.

Operator

from Barclays. comes next the Holden Hale Our of go question ahead. Hale, of line please

Ed Brucker

product is if companies some have and about Hale. disruption. Hong Brucker question consumer that an Ed heard Kong a Thanks. retail any for This that's on from I I was other We've issue. been protest. wondering there's the

Debbie Perelman

Ed, for you thank question. the

keeping this continuing third that really business in current our impact. are close the have in watch a we're Kong obviously, But Hong quarter to But had situation. tab closely. of We regards -- terms our we given minimal very political to results with

Ed Brucker

I mass the I this had wondering do of that sales the noted will of guess kind and you or segment, to promotionality. then was decrease and US was why the due you from Revlon in Great, some the increased continue. to

Debbie Perelman

made in So worked We Revlon, have we're did that our when and in thank it. the promotionality the on seeing based you to the And the seeing the for at are today. we quarter, were we competitive would time quarter. for third back had what increase on And the we decision that's we look And to based in at question. promotionality reduce XXXX what market. market this year, what increased you seeing remain we that

Ed Brucker

as then last maturity there And Is on this one maturity on and and for structure any come update how Great. XXXX you me. starts to, starts the addressing then your to up? capital it plan

Victoria Dolan

That's a that question. Thank you question. good for

me So liquidity where a let we are standpoint. reiterate just from

$XX revolving M&S million cash, float available of quarter and $XX $X had let's credit So in $XXX approximately million credit million. facility available at borrowing the company line of of end $XX of million the under available the under about million liquidity, borrowing in [ph]

last has to nothing since And really quarter. with the changed regard XXXX,

with as work our when to refinance to appropriate maturities. that communicate remain plans are and our to And lenders ready. XXXX to We continue we refinance the

Ed Brucker

you. thank Great,

Operator

Our of Goldman go Sachs. next line Jenna, Jenna question ahead. please from the Gianelli of comes

Jenna Giannelli

meaningful a strength? timing little there a I but given Hi. bit also continues there then or spending, cetera? color. ask curious as you. Arden. Thanks some And Seemed on Prevage was if to like us in Thank related, I'm et of business the maybe expected, products just you they're obviously such about wanted that's to on. Just anything is the there question. follow kind for of sequentially, going grow a could how more little talk deceleration of seeing some Ceramide are about lines bit taking other of and to outside the just Elizabeth

Debbie Perelman

the you Thank question. for

in as to our comments, we by stated So with and are with two being driven stated as really Elizabeth Arden you regards the we is three our -- growth franchises. skincare segments

driven at is Prevage Hour. also franchise it the but So Ceramide, by and Eight

of segment is with to our And Eight you Fragrance by very other driven daily growth. When Great look also moisturizer segments, Hour Moisturizer experiencing is well. Daily the really launch which X is the launch into being performing our

flankers Tea and we've the growth. Our And key quarter to in that launched Green Tea. White is which contributing are today Fragrance pillars in

to the consumption, right. With regard

I also look remark it's So net when the that that were X%, continues worth our total think consumption in you to grow. highlighting at the sales which of

half. our So outpacing the first in is consumption the third quarter

have lot So you continue on to a of Arden. investment Thank for question. the

Jenna Giannelli

trends Thank retailer international's you. to category relatively as relatively performing starting just one more really It some I'm On Revlon better. on been have is It seeing similar similar you're better. of curious seems and actually are if the may. if challenges destocking like, the in or I I Revlon you of international, there performing inventory? see US

trends So, are are we're of internationally those you well? to the US that seeing accelerate some seeing as in

Debbie Perelman

So thank regards question. for With International. you to Revlon the

we've like where the through Revlon continue good to to on of First, look success. with that. the would e-commerce, success I to we regards had highlight that early we're build launch to And into seeing China

consumption, other with our strength we With markets, regards consumption. our to see continue to particularly in

at So and Africa key Australia and we look Spain. South markets like

We the Revlon on quarter. continue strengthen consumption see in the to

seeing regards say to trends market. see UK With would category. slowdown of in any some is the the mass to mass color that or similar I the additional similar starting terms in US trends the for cosmetics to

Jenna Giannelli

Great, color. off appreciate pass the to I'll Thank others. you.

Debbie Perelman

Thank you.

Operator

ahead. comes from the line of of question Our Jefferies. Martinson Karru, next Karru please go

Karru Martinson

Good morning.

there? the should quarter, of drag about exposure thinking tariffs what we terms fourth for be the and In the

Debbie Perelman

quarter. guidance don't we of fourth give So in forward terms

We incremental little had on magnitude. saw EBITDA. a of impact adjusted our highlighted the the it QX. That that provides bit certainly impact in to You that relative

Karru Martinson

magnitude. more on Little

in also improve North change America, response a is competitive the in down according Okay. you. competitive with on there? with from their pressure? And What down make the that is then just response going in to products, being What relaunching it to October data? that the Revlon, to the here terms in others for XX% Is the increased promotion that industry of Nielsen

Debbie Perelman

start look with the the that right, at impact net impacted we As Revlon. for sales on net the we key three sales, factors

to with retailer with third first to So category management, regards is regards in second the the decline inventory quarter.

it I our the then approximately to continues in promotionality. and decline As at increase X%, mentioned,

the those third So of impacted all really three quarter.

the second And that at October, positive very quarter. be market to proving impact that which place the brand, strengthened end consumption lips. head When the on the of into particularly consumption, as headed throughout that's launches support of in of Victoria that on right, put look as hitting with the really the a we strong. third the into having impact we put into has we're that Revlon, We the towards see brand which been in And we quarter for October. tactics brand continue seeing support the regards the we've to touched to we we really

Karru Martinson

change just availability in senior anything going X.XX wildly or the current, of Okay, with already that terms does covenants? notes your

Victoria Dolan

not. No, it does

Karru Martinson

it. much. Thank you very Appreciate

Debbie Perelman

Thank you.

Operator

question Our next from Imperial go line of Gilbert the comes ahead. Capital. of Mary, Mary please

Mary Gilbert

retailers go we that the something And we weigh and in really inventory, this and is next improvement support? year? do With we consumption impact because in to this less sort with quarter, holding forward have as brand it's morning. the of you impacted how over Good cycle the

the about is brand And also being in if you which and talk the getting support that how there? you're traction deployed could areas

Debbie Perelman

Mary. Okay, thank you,

answer that had. the So you the questions I'll for segments into with have take the -- various regards

comment anything retailers But is the looking. on to quarter Almay. Revlon something regards with did going with not forward impacted to and holding less it that I'm and to third So regards inventory,

lipstick. focused. of within core lines, to is at been has the Lustrous Super as Super continue look as that Lip. the and of on we support focused When within we with a segment our Revlon, And it's franchise our it's Suede, you which core innovation been, ours, very drive Lustrous, Matte had On launch core that well product our where ColorStay brand

Mary Gilbert

of overall experienced remerchandising Okay, in is including sort that's reduction in have with two given the of to category. what's inventory you the like helpful. the weakness going CVS Walgreens sounds because category And transforming we the then brands, more and with factors. One mass indie regard have it and on

you of we bring And bit some if little of then in more you the become innovation if stores mass can Portfolio. experiential a two, I loss with transforming But space some across the given seeing also services. expect about as could number to any opportunities are and are that? channel a players brands, these there's more of shelf wondered talk also And the that indie

Debbie Perelman

thank Okay, you.

think with to and So, the for it's CVS Walgreens regards industry. and their I reinventions own great

I them. categories for think with in are the partner to to excited it's And beauty. continue have relationship very continue that our are that they standing investing And long with great we we them.

fluctuations for space us, normal year. the regards changes With that happen we to throughout have

to no or our nothing of with these Ice was Sinful. we some as third beauty contraction well in The We you Mitchum. on a did some and contraction know did in in quarter exception, material as space Revlon Pure but have tools, as really on Almay. terms regards fluctuations And have

able to would we can I'm going looking to any regards XXXX. give forward about going talk to But right that not guidance, it. love to innovation With the excited but be into that are you now. expect very about I

Mary Gilbert

And Okay. an can update Plush beauty? on finally, us give you then

Debbie Perelman

you. Yes, thank

and consumers both as continue buying the to Millennials. in So, well Those be on the with plushbeauty.com to ulta.com. brand, on our as continue Z Plush, e-commerce focused the brand with very who Gen be direct we through very driving attracted to regard to particularly are

Mary Gilbert

thank Okay, you.

Debbie Perelman

Thank you.

Operator

Cantor Sterling Fitzgerald. Colin will locally. Elie, please your next question, is go [Operator Ducharme line move Instructions] the on ensure unmuted our Please [Operator Elie of We Our next Capital. please of now of Radinsky ahead. go comes to Colin, that ahead. question from line Instructions]

Colin Ducharme

repayment up for remind the follow Goldman? you Victoria, may if still quick potential process the the hold thanks. is then Victoria. with Yes, Debbie, notes had strategic trying can to existing I are or us, given change of for for And market refinance you that the a Q&A. one I transactions a on in

not I'm assets, unencumbered base or And collateralized borrowing if incremental curious borrowing. you also existing about then just touch can any, by capacity? are potential on the currently which relatedly,

Victoria Dolan

you the question. for Thank Okay.

what answer work QX we XXXX But the and working of to actively has manage that execution. to about lenders continue going stick that said will to appropriate which that And really constantly refinancing. before, well. I Nothing our I'm is we think we to maturities. in are with the since note I that structure changed as refinance when the communicate timing to capital the

Colin Ducharme

Okay, thanks. And then assets, tangible, just whether intangible? unencumbered on any

Victoria Dolan

to going on not We're comment that.

Colin Ducharme

follow up then. Debbie Okay, for

Now and that CapEx could now belt the that we've in cash can some efficient lapped flow you're in talk benefits to that implementation, overtime that your if ERP just operational you of you seeing, place? to the given now about of And those quarters you've particular, link had under the more more several make any visible. with ability benefits

Debbie Perelman

Sure.

I with the we've the But touch regards it to benefits it. to Victoria add with on regards seeing that also the in will ERP then we and will well to that implemented, various ERP, So really to been in supply systems within such areas we chain. -- we've had several finance, processes within been as our able the streamline did legacy functional We've business. as as system eliminate

we seen the have So benefit.

Victoria Dolan

drive so can manner. behind a we and relate specifically we I efficient we and work out the but be being savings optimization because back spans processes, seen were that, think take streamlining the build optimization on in efficient, two three right, to helped more putting program, if able how the the global us standardize and in able to to them we've ERP just parts operate to think become starting of And go tenant it, that system to layers I the more there program, to to

program. seeing I that the system of benefits So enabled we're the think ERP optimization through

Colin Ducharme

Thank you.

Operator

line go question Wissink the of from Stephanie, please ahead. Jefferies. of Our Stephanie next comes

Ashley Helgans

Steph taking the for Thank this We seeing question. wanted seeing any Helgans trends to Hi, then is our in color on trends you. you're cosmetics? just And emerging you unpack are for channel. Thanks in Ashley Wissink. professional

Debbie Perelman

with to a regards bit professional to just question…? get the little channel, So I'm more on clarity the trying

Ashley Helgans

your stylist professional products. For

Debbie Perelman

Okay.

So business. Revlon with regards to professional our

basically business for continue hair focused year strategy professional. within quarter flat prior been be for our the We with -- quarter. are -- we Revlon has of performance And since leading on the color to the

Ashley Helgans

in Okay, you're great. cosmetics? anything then Thank And color seeing you. emerging

Debbie Perelman

product trends? With regards to

Ashley Helgans

Yeah, just industry trends.

Debbie Perelman

I with to color to launching, cosmetics trend was regards mean, really where we continue see right. look you are we specifically

continue very as with that be lip focused in we makeup Almay Almay focused focused on as particularly our well quarter; the Revlon with Revlon very with removers. and to launch on business, the core the and areas are face to So that with on

Ashley Helgans

so much. thanks Great,

Debbie Perelman

you. Thank

Victoria Dolan

Thank you.

Operator

question next Our please Villanueva is again. mute from please phone locally. going line your Madeline Citizens hear cannot of comes ensure I'm that Medline, go you. Bank. we Madeline, Madeline, your ahead. to unmuted

try ask to like would you a If please question, again.

Debbie Perelman

Revlon no say to our to build Thank additional the Okay. stronger of we have to accomplished all are Seeing And team striving questions, all a note make listening. Thank world who am proud global today. a business. you for me joined the efforts you members let who call around you have thank together, you. that you, every all single our I of day. that special

Operator

for Thank today's you joining conference.

may lines. You your now disconnect

Revlon (REVRQ) 9 Nov 192019 Q3 Earnings call transcript