Revolution Beauty cuts profit guidance as sales plunge

Revolution Beauty saw sales plunge in its latest trading update, following the rationalisation of its products.
The beauty giant said it expected to pull in underlying adjusted EBITDA of between £6m and £6.5m for the year ended 28 February, after growing its pre-tax profit to £11.4m last year, with adjusting items including an adjustment for stock provision charges related to its non-strategic stock of £9.2m.
Sales were down 26% year on year, falling to around £141.