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Avon Products Inc. said Thursday having 10 percent more people selling its products during the third quarter helped sales, but the stronger dollar hurt its revenue from some markets, and its profit fell 30 percent.
Cosmetics company Avon Products Inc. reports third-quarter results on Thursday before the market opens. The following is a summary of key developments and analyst commentary for the period.
Avon Products Inc. said Thursday that its president, Elizabeth Smith, is leaving the beauty products company at the end of October to seek out a CEO position elsewhere.
Avon Products Inc. said Thursday its second-quarter profit fell 65 percent as foreign currency and hefty restructuring charges hurt the cosmetic company's bottom line, while the global recession dampened demand for beauty products and fragrances.
Avon Products Inc. said Wednesday that it will eliminate about 1,200 positions, or about 2.8 percent of its oevrall work force, by 2013 as part of restructuring efforts amid a recession that has dampened demand for the company's cosmetics.
Avon Products Inc. on Tuesday said its first-quarter profit fell 36 percent, due to significant foreign exchange pressures and the impact of the global recession that dampened demand for the cosmetics company's products.
Avon Products says fourth-quarter profit rose 80 percent from a year ago, when the cosmetics company had restructuring costs, but a stronger dollar crimped sales.
Strong foreign sales helped Avon Products Inc. post a 60 percent increase in third-quarter profit Thursday, but adjusted earnings missed expectations and the company's shares tumbled to a seven-year low.
Strong sales internationally, especially in Latin America and Eastern Europe, helped Avon Products Inc. more than double its second-quarter profit, the cosmetics company said Wednesday. Its shares surged more than 17 percent.
Avon Products Inc., a direct seller of beauty products, said Tuesday its fourth-quarter profit fell 30 percent on restructuring costs and other charges, but the results still beat Wall Street forecasts. The company also offered an upbeat outlook.
Avon Products Inc. on Tuesday said it will cut 2,400 jobs as part of its multiyear restructuring plan, which will cost more than originally expected and ultimately save the beauty-products maker $430 million annually.
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