Medtech Insight is part of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call +44 (0) 20 3377 3183

Printed By

UsernamePublicRestriction
UsernamePublicRestriction

Sales & Earnings In Brief

This article was originally published in The Rose Sheet

Executive Summary

Avon: Direct seller is taking aggressive steps to mitigate a 65% decline in second quarter profit, CEO Andrea Jung told analysts during a July 30 earnings call. For the quarter, net income was $83 mil., negatively impacted by restructuring charges and currency fluctuations, firm reported. Avon recently announced it was taking a $90 million charge in the second quarter to fund its 2009 restructuring plan, which includes the elimination of 1,200 positions (1"The Rose Sheet" July 27, 2009, In Brief). During the period, firm's active representatives base grew by 11%. "We're committed to bold and speedy actions to ensure that we drive margin expansion over the longer term," Jung said. The exec anticipates potential easing of currency issues in the back half of the year. Total revenue for the period declined 10% to $2.5 bil., but grew 5% on a local-currency basis. On a reported basis, fragrance and color cosmetics declined 9%, personal care fell 10% and skin care revenues were down 12%
Advertisement

Related Content

Advertisement
UsernamePublicRestriction

Register

RS016337

Ask The Analyst

Please Note: You can also Click below Link for Ask the Analyst
Ask The Analyst

Your question has been successfully sent to the email address below and we will get back as soon as possible. my@email.address.

All fields are required.

Please make sure all fields are completed.

Please make sure you have filled out all fields

Please make sure you have filled out all fields

Please enter a valid e-mail address

Please enter a valid Phone Number

Ask your question to our analysts

Cancel