For the year, Revlon's share of the mass market color business was about 13 percent, down from 14.1 percent in 2006 and 15.3 percent in 2005. Almay's share has stubbornly remained at around 6 percent, on par with its share prior to the brand's overhaul in 2006.

Kennedy said, "You can trace that share loss back to the strategy that we had in place for 2005 and 2006," which — under his predecessor, Jack Stahl — focused on launching the now defunct Vital Radiance brand, revamping Almay and introducing refreshed product lines.

Kennedy said the firm plans to introduce more new products backed by increased advertising later this year, as it extends marketing support for existing products.

Revlon began shipping its first-half 2008 launches to retailers in late November, and first flipped the switch on brand support late last month. The company expects to sees a sales lift from the new lineup in the spring.

In the most recent quarter, Revlon's U.S. sales declined 5 percent to $215.8 million from $227.1 million in the year-ago period, dragged down by $4.7 million related to Vital Radiance and a higher sales return expense. On the International front, sales in the quarter gained 9.9 percent to $166.8 million from $151.8 million, boosted by a favorable foreign currency exchange.

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