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Avon Turnaround Progresses But Challenges Remain

Avon Products Inc. (AVP) posted another quarter of better-than-expected adjusted profit as the door-to-door cosmetics vendor continues on its turnaround path. But signs of weakness remain in key regions, including North America and Asia."We continue to see signs of stabilization and we are making early progress in our cost savings efforts, but there remains a lot of work to be done across our businesses," Chief Executive Sheri McCoy said.Results in Latin America and the Europe, Middle East and Africa region showed signs of stabilization, including an 11% rise in revenue in Brazil in constant dollars and a better-than-expected quarter for Mexico, which posted a 3% rise in revenue in constant dollars.But declining revenue in the U.S. remained a drain on the overall business, , Ms. McCoy said Tuesday on a call with analysts and investors, adding the company needs to focus on strengthening the brand and improving its marketing and merchandising, among other things.Shares rose 4.1% to $23.1...

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