Health & Beauty Industry Forecasted to Generate Over $60 Billion in Revenue by Year's End in U.S. Alone; Company Issues 10Q with Increased Revenue Results
Aug 09, 2016, 08:30 ET
CORAL SPRINGS, Florida, August 9, 2016 /PRNewswire/ --
The beauty industry's potential to continue to remain profitable as consumers spend millions for health and beauty products, salon experiences and other industry related services and products. The revenue of the U.S. cosmetic industry alone is estimated to amount to about 62.46 billion U.S. dollars in 2016.
Green Endeavors, Inc. (OTC: GRNED), a majority owned subsidiary of Sack Lunch Productions, Inc. (SAKL) has filed its Form 10Q for the period ended June 30, 2016, reporting substantial improvements to revenues, operating income and net income. Revenues for the three and six months ended June 30, 2016, were $864,747 and $1,656,255 respectively, compared to $758,392 and $1,460,148 for the same periods in 2015; a 14% and 13.4% improvement. Net losses for the three and six months ended June 30, 2016, were $15,078 and $122,817, respectively compared to $354,725 and $632,524 for the same periods in 2015; a 96% and 81% improvement.
Read the full Green Endeavors (GRNED) Press Release at: http://financialnewsmedia.com/profiles/grne.html
Richard D. Surber, CEO of GRNE, commented "We saw improvements at nearly all levels of our operations. Each location saw improvements in net income and/or growth in top line revenues over the comparable periods in 2015. Our goal for the remainder of 2016 is to continue hiring stylists to further improve our top line growth. We will continue to improve our controls on inventory management while increasing our training budget to drive retail sales and improve margins. Lastly, we will continue our search for additional locations as part of our expansion plans." Green Endeavors, Inc, headquartered in Salt Lake City, Utah, is a holding company with operations in health & beauty. GRNE's wholly owned subsidiaries, Landis Salons, Inc., Landis Salons II, Inc., and Landis Experience Center LLC, operate hair salons built around the world-class AVEDA™ product line - owned by Estée Lauder Companies, Inc. (NYSE: EL)
In other beauty products developments: Avon Products, Inc. (NYSE: AVP) recently announced that Avon International Operations, Inc., Avon's wholly-owned subsidiary (the "Issuer"), priced an offering (the "Offering") of $500,000,000 in aggregate principal amount of its 7.875% Senior Secured Notes due 2022 (the "Notes"). The aggregate principal amount of the Notes offered was increased from $400,000,000. The offering is expected to close on August 15, 2016. The Company intends to use the proceeds from the Offering, together with cash on hand, to complete tender offers for certain series of the Company's existing senior notes, which it launched concurrently with the Offering.
In recent health & beauty board additions: Coty Inc. (NYSE: COTY) recently announced that its Board of Directors has appointed Camillo Pane as Chief Executive Officer and member of the Coty Board, each effective as of the day following the closing of the merger of P&G Specialty Beauty into Coty, expected to occur in October 2016. Bart Becht, currently Interim CEO and Chairman of Coty, will continue to serve as the Chairman of Coty's Board. Camillo Pane currently holds the position of Executive Vice President of Coty's Category Development and is a member of the Coty Executive Committee.
The Board of Directors of Sally Beauty Holdings (NYSE: SBH) recently announced the appointment of Erin Nealy Cox as an independent director effective August 1, 2016. Ms. Nealy Cox will be a member of the Audit Committee of the Board of Directors. "Erin is a pioneer in the cyber-security field and has been a tremendous asset to the Board as we navigate through the complex world of cyber-security and data protection," said Bob McMaster, Sally Beauty Holdings Chairman. "We appreciate her willingness to serve as a director and we look forward to her continued counsel in cyber-security matters and her contribution as an accomplished business leader."
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