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current news

Avon Sees 10% Q2 Drop

(Filed Under Financial and General Interest News). Direct-To-Consumer company Avon Products, Inc. reported second quarter revenues of $2.5 billion, 10 percent lower than last year's second quarter earnings. On a local currency basis, revenues were up 5 percent as foreign exchange pressured growth by 15 percentage points.

The company also recently announced that it will cut approximately 1,200 positions worldwide by 2012 to 2013, and will close its 1.2 million-square-foot facility in Springdale, Oh. by mid-2012. Avon plans to shift production to sites in Illinois and Mexico.

Avon, "the company for women", makes an average annual revenue of more than $1.5 billion. Best-known for its beauty and cosmetic products, the company also sells intimate apparel.

more Financial and General Interest News >>

Published 08-03-2009 by Amanda Torres Price

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