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May 092014 Gossip
 

Avon

Share prices have continued to dive following the announcement of the direct sales giant’s firtst quarter results, which show a big dip in both profits and revenues. Avon’s revenue for the quarter was $ 2.2bn, wich was a decrease of 11 %, or 3 % in constant dollar terms, reflecting a drop of 6 % in total units sold. Hardest it was the company’s beauty sales, which were down by 12 % and 4 % in constant dollars, while the fashion and home sales declined by 9 % and 1 % in constant dollars. On a geographical basis, the best performing market was LAtin America (increase of 7 % in constant dollar terms), in Europe, Middle East and Africa, revenues were down 11 % (5 % in constant dolalrs), in Asia Pacific revenues fell 17 % (10 % in constant dollars); however the biggest dip in revenues was seen in North America (down 22 %).

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