Fox Business - The Power to Prosper
Search Site

Sheri McCoy

Avon 4Q Sales Fall as More Sales Reps Drop Out

Avon Products (NYSE:AVP) lost more active representatives in the fourth quarter and recorded sharp sales declines in the U.S. and several of its emerging markets on Thursday.While it remained optimistic about strides being taken toward its financial goals, it warned hat much more work still needs to be done toward becoming a more "stable business." The New York-based beauty products retailer, which relies on active reps to directly sell its products to consumers, more than halved its loss to $68 million, or 16 cents a share, compared with a year-earlier loss of $162 million, or 37 cents.Excluding one-time impairment charges, Avon said it earned 34 cents, topping average analyst estimates in a Thomson Reuters poll by four pennies. Revenue fell 10% to $2.63 billion on an 11% decline in beauty sales, missing the Street's view of $2.75 billion.Shares of Avon were down about 0.46% to $14.99 in recent trade, declining some 28% over the last 12 months.Avon had been hoping sales in fast-growin...

Read More

  1. Avon to Cut 400 Jobs, Exit Ireland

    Avon (NYSE:AVP) plans to cut another 400 jobs and exit certain underperforming markets as part of an earlier-announced multi-million dollar restructuring intended to...

  2. Avon to Cut Headcount by 400

    Avon Products Inc. (AVP) will cut its global headcount by more than 400, restructure or close operations in Europe, Middle East & Africa, and exit the Ireland market...

  3. Spotlight on Avon's McCoy at CAGNY conference

    Investors bought everything Avon Products Inc Chief Executive Sheri McCoy was selling last week, lifting shares 23 percent on the back of solid results and a confide...

  4. Avon Widens 4Q Loss But Beats Street

    Avon (NYSE:AVP) revealed Tuesday stronger-than-expected fourth-quarter earnings as it continued to cut costs while growing its base of active representatives and boo...

  5. Avon to Axe 1,500 Jobs

    Avon (NYSE:AVP) said Wednesday it will cut 1,500 jobs globally over the next year and exit South Korea and Vietnam as it looks to shed the excess fat from its operat...

  6. J&J CEO Gorsky to Be Chairman, as Weldon Will Retire in 2013

    Johnson & Johnson (JNJ) named its new chief executive, Alex Gorsky, as its new chairman, completing a leadership transition for the health-care conglomerate as its f...

  7. Avon Cuts Dividend, Posts Weak Quarterly Results

    Avon Products (NYSE:AVP) on Thursday posted an 81% drop in third-quarter profit and weaker sales while revealing a three-year growth plan aimed at lowering costs by ...

  8. Avon slashes dividend as profit plunges, eyes cost cuts

    Avon Products Inc slashed its dividend by nearly 74 percent on Thursday, while also announcing measures to cut costs by at least $400 million within three years in m...

  9. Avon Profit Drops 81%; Cuts Dividend

    Avon Products Inc.'s (AVP) third-quarter profit fell 81%, a much sharper decline than expected, as the door-to-door cosmetics vendor suffered weaker sales across its...

  10. Avon slashes dividend as profit plunges

    Avon Products Inc slashed its dividend by nearly 74 percent on Thursday, while also announcing measures to cut costs by at least $400 million within three years and ...

  11. Avon's Andrea Jung Stepping Down From The Board

    Avon Products Inc. said Friday that Andrea Jung will step down as executive chairman and member of the beauty company's board of directors at the end of the year. Sh...

  12. Avon Profit Plummets 70% as Rep Exodus Continues

    Avon Products (NYSE:AVP) reported a sharply narrowed second-quarter profit on weaker sales in its major markets and brand categories and a decline in active represen...

  1. Why we dumped our position in Avon

    The Covestor Ironwood SMID Cap Value portfolio had a good December, rising about 2%. In December, the strategy had strong gains in our financial and healthcare stock...

  2. Avon Slumps Over Government Penalty Concern

    Avon Products Inc. shares saw their biggest daily percentage drop in 14 years Thursday, down 22%, after the direct seller of beauty products said the Securities and ...

  3. Avon Dives 20% on Bribery Settlement Warning

    Shares of Avon (NYSE:AVP) plummeted more than 20% Thursday morning after the beauty products company warned a potential regulatory settlement of a bribery probe coul...

  4. Avon Shares Tumble After 'tough' Quarter

    Avon Products Inc. shares slide 9% in premarket trade Thursday after the beauty company swung to a loss in the third quarter. Avon reported a quarterly loss of $5.5 ...

  5. 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 si...

  6. Avon Swings to Loss on Restructuring

    Avon Products Inc. (AVP) swung to a first-quarter loss as the door-to-door cosmetics vendor recorded charges related to restructuring, extinguishment of debt and the...

  7. Avon Says Fred Hassan Resigns from Board

    Avon Products Inc said on Friday that longtime board member Fred Hassan resigned from its board to focus on his other professional commitments and that Doug Conant w...

‹ Prev12Next ›
Freebase CC-BY
Source: Sheri McCoy on Freebase, licensed under CC-BY
Other content from Wikipedia, licensed under the GFDL