Revlon's net losses widened to $213.9 million from $75.1 million.
With new financing in hand, a big sales gain online and cost cuts under way, Debbie Perelman, Revlon Inc.’s president and chief executive officer, said the beauty company is navigating the disruptions of the coronavirus.
Still, the impact on the company’s business was stark, even with the COVID-19 shutdown in the U.S. only hitting the last few weeks of its first quarter, which ended March 31. Net losses widened to $213.9 million from $75.1 million. Factoring out $5.7 million in COVID-19 related charges, $110.9 million in impairment charges and other items, adjusted losses widened only slightly to $64.1 million from $63.6 million.
Last week, Revlon closed on an $880 million term loan facility, $200 million of which went to retire a prior facility.
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