Optimization Program Sends Revlon Stock Soaring
5 days ago - By WWD
Revlon's stock surged more than 20 percent Friday morning in pre-market hours after the cosmetics company disclosed a new optimization program to cut costs.
The cosmetics giant said it is unveiling a program to save between $125 million and $150 million a year by the end of 2019.
“Looking forward with the announcement of our 2018 optimization program, we are now reallocating and realigning our resources to build new capabilities in higher-priority growth areas, as well as driving operational efficiencies to reduce our cost base,” Debra Perelman, Revlon president and chief executive...
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