UK cosmetics brand Revolution Beauty reports a £10.9 million loss, down from a £400,000 profit last year.

UK cosmetics brand Revolution Beauty reported a £10.9 million loss for the first half of 2023, a significant drop from a £400,000 profit in the same period last year. Sales fell 20% to £72.4 million due to product simplification and increased sale events. Despite the downturn, the company expects to return to growth in the fourth quarter and aims for accelerated growth in 2025-26 with a new skincare line and expansion into Walmart stores in the US. The company's shares have dropped 54% this year but rose 1.6% on the day of the report.

November 19, 2024
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