Alpha Diallo
0
All posts from Alpha Diallo
Alpha Diallo in Alpha Diallo,

Hasta La Vista China from Revlon

In an attempt to restructure itself, the cosmetics maker Revlon Inc (NYSE:REV) will leave its Chinese operations. The move is estimated to save Revlon $11 billion on an annualized basis. As part of the termination, 1,100 jobs will be cut in the region. In addition, earnings will take a hit of $22 million as of the exit. Revlon’s Chinese operations have been struggling to post sales gains for more than a year now.  According to Reuters, China accounts for 2 percent of the cosmetics markers’ total sales. It’s not clear how Revlon will replace the 2 percent loss from China.