Despite recent strides, Revlon's share of mass market color cosmetics in the U.S. slipped 0.6 percentage points to 12.6 percent during the quarter, compared with the year-earlier period. Almay's share dipped 0.3 percentage points to 6.2 percent.

Referring to the share losses, Kennedy told WWD: "It is important to gain share. We want to gain market share on a profitable and sustainable basis." He noted that Revlon's traction in the second half of last year with products like Almay Smart Shade and 3D Extreme Mascara illustrate the success of its growth strategy.

"We clearly have reinvigorated the product pipeline," he said. Kennedy added that savings from ongoing cost controls have been funneled into enhanced marketing communication in the stores and in advertising efforts. He also attributed much of the brands' share erosion to the face category, and expects recent launches in the category, namely Revlon Custom Creations and Almay Smart Shade, to help reverse the share losses.

The company unveiled a more robust product lineup for the second half, which is slated to include Revlon Beyond Natural, a makeup collection that includes a primer, a concealer-highlighter compact, cream-to-powder shadows and cream lip gloss and lip tint; Revlon ColorStay Mineral Lipglaze, billed as an eight-hour, long-wearing gloss; Revlon Lash Fantasy Total Definition Mascara with pigment on one end and primer on the other, and this summer's collection, called Crush on Color. New introductions from Almay will include Bright Eyes Collection, Smart Shade Concealer and TLC Truly Lasting Color Pressed Powder.

Jessica Alba will appear in ads for Revlon Beyond Natural, and Elle Macpherson will begin gracing ads in the second half of this year, said Chris Elshaw, executive vice president and general manager of Revlon's U.S. region.

Kennedy reiterated Revlon's target of midsingle-digit sales growth.