Revlon (REV, $28.61 ) Stock Jumped +22% On Cost Cutting Plans and Q3 Revenue Beating Estimates
Following Revlon Inc.’s announcement of cost-cutting plans and its higher-than-expected Q3 revenues, the company's stock jumped the most in a month.
The cosmetics and personal care company said it would lower costs by as much as $150 million by the end of 2019. On Friday, Chief Executive Officer Debra Perelman revealed the company’s plan to concentrate resources on “higher-priority growth areas”, and that might lead to job cuts. This is one of the examples where online retail and growing competition have increased challenges for consumer companies including beauty/skincare brands.
Nevertheless, Revlon did manage to significantly improve earnings in Q3. Earnings per share came in at $0.14, from a loss of $0.38 in the same period a year ago.The company's Q3 revenue was $655.4 million, beating the consensus expectation of $639.6 million.
On Friday, Revlon shares surged +22%.
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Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.
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General Information
a manufacturer of and distributes hair and skincare products
Industry HouseholdPersonalCare
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