Why Revlon Stock Sank This Week
Revlon (NYSE: REV) stock trailed the market by a wide margin this week. The makeup specialist's shares fell 22% through Thursday trading even as the wider market rose 1.5%, according to data provided by S&P Global Market Intelligence. The decline put owners of the struggling business deeper into negative territory for the year, with shares down over 40% in 2022.
It was sparked by a second-quarter earnings report that showed expanding stresses on the business.
Revlon, which is currently going through a bankruptcy restructuring, revealed on Tuesday that sales fell 11% in Q2, to $443 million. That decline likely involved market share losses, given that the wider makeup category is growing.
Source Fool.com
