These two New York City-based cosmetics leaders have seen their shares fall on weak Q4 earnings results, as they commit to aggressive long-term restructurings​ and allocate funds to new social and digital initiatives.

Revlon Swings to Loss, Stock Sinks

Despite cost-cutting initiatives, cosmetics leader Revlon Inc. (REV) disappointed investors with weaker-than-expected full-year 2016 and fourth-quarter results on Friday as it struggles with forex​ headwinds, restructuring-related charges and sales declines. The firm posted a Q4 loss of $36.5 million after reporting a profit over the same period last year. On a per-share basis, adjusted earnings came to $0.43 per share on revenue of $800.7 million. Management indicated that profits suffered due to an increase in online shopping and popularity of specialty retailers over the holiday season.

Revlon recently announced a partnership with ecommerce giant Inc. (AMZN) in which the firm will market its makeup on shipping boxes in a series of ad campaigns targeting Millennial online shoppers. The cosmetic company’s shares are trading down about 7.4% on Monday afternoon at a price of $30.25 per share.

Avon Misses Street Forecasts

Avon Products Inc. (AVP) also reported dismal fourth-quarter results back in mid-February, as the stock trades down about 25% on results that missed both top- and bottom-line estimates. The New York-based beauty products company posted adjusted earnings of $0.01 per share, below the consensus of $0.09 per share and representing a slight improvement from break-even results reported in over the same period last year.

Total sales for the quarter came in at $1.57 billion, compared to the Street’s estimated $1.6 billion. The company said it surpassed its cost saving targets for its three-year plan announced in January 2016, realizing approximately $120 million in savings and reducing debt by $260 million. In efforts to regain its momentum, Avon plans to invest about $350 million over the three-year period starting 2016 to media and social selling, service model evolution and information technology. (See also: Revlon Embarks on New Digital Transformation.)

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