Revlon Inc (REV.N)
|Market Cap (Mil.):||$1,531.96|
|Shares Outstanding (Mil.):||52.36|
SHANGHAI, Jan 8 - French cosmetics giant L'Oreal SA has halted sales of Garnier beauty products in China to focus on other brands, a week after U.S. rival Revlon Inc pulled out completely from the slowing China market.
- Revlon Inc said it would exit China, where sales of its cosmetics have been falling, and cut more than 1,000 jobs as part of a restructuring designed to save about $11 million a year.
* Expects annual savings of about $11 mln from the restructuring
Dec 31 - Cosmetics maker Revlon Inc, known for its Almay and Sinful Colors brands, said it would exit its China operations as part of a restructuring that would save about $11 million annually.