Revlon expands plans to post charges and will cut staff by as much as 9%

Article Abstract:

Drugstores' consolidations and selling off excess inventory, weak international sales and increased domestic competition are reasons given for Revlon's job cuts of about 9%. The cosmetics firm also announced that it will take about $80 million in restructuring charges, partially in Q4 for 1998 and the rest in 1999. The charges are $30 million higher than first reported, reflecting additional ways the company can save money at home in addition to internationally.

Comment:

Job cuts at home and further cost-cutting in 1999's plan

Strategy & planning, Toiletries, Planning, Finance, Cosmetics industry, Revlon Inc., REV, Cosmetics

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It isn't a nose dive, but perfume sales are steadily dropping; traditional fragrances fade as trends push shoppers to cheaper, basic smells; from Giorgio to generic

Article Abstract:

Pricey perfume sales have been dropping in the 1990s after peaking in the 1980s at about $6 billion per year. Now shoppers want less fragrance for less money. One consumer says she picked her daughter's nanny from the candidates who were not doused in aroma. Reading the trends, Bloomingdales' New York City store is featuring Moi for $24 a bottle and a $10 roll-on this holiday season.

Forecasts, trends, outlooks, Sales & consumption, Marketing procedures, Consumer Attitudes, Perfumes, Marketing, Perfumes industry

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