The 90-year-old beauty brand stated that by filing for Chapter 11, it will be able to operate seamlessly in all markets and focus on driving future growth.
During a strong first-quarter earnings report, the grocery chain announced that it would be rolling out its Boost membership program nationally over the next few weeks.
According to reports, Revlon is preparing to file for Chapter 11 within the next few days, following news that as of the end of March it had long-term debt of $3.31 billion.
The wholesale club retailer reached 6.5 million members in the first quarter, and membership fee income increased by 11.9% to $96.6 million year-over-year.
Target had lower-than-expected sales in discretionary categories, as well as costs related to freight, supply chain disruptions, and increased compensation and headcount in its distribution centers.