Revlon’s net sales fell approximately 20% to $477.1m in the third quarter, but the performance represents a sequential improvement compared with the second quarter, CEO Debra Perelman noted in a call with analysts. Having successfully closed a senior debt exchange offer on 13 November, Revlon will enter 2021 fully focused on strategic execution, she said.
Revlon, Inc. has staved off bankruptcy with a hard-won exchange offer with investors, giving the company additional time to turn around its beleaguered business.
According to its 13 November announcement, Revlon compensated holders at discounted rates for close to 70% of $343m in senior...