Home / Markets / Industries / Retail
Thursday, October 29, 2009
Avon Products Quarterly Net Profit Slides 30%
By Sarah Turner
MarketWatch Pulse
LONDON -- Avon Products said that third-quarter net income attributable to the company fell to $156.2 million, or 36 cents a share, from $222.6 million, or 52 cents a share, a year ago. The beauty firm said that restructuring costs amounted to 6 cents a share in the quarter. Analysts had been expecting earnings per share of 39 cents, according to data compiled by FactSet. Total revenue declined 4% to $2.55 billion. The firm said that it expects continued mid-single-digit local-currency revenue growth.
Copyright © 2009 MarketWatch, Inc.
