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Avon CEO To Detail Turnaround Plan

Published February 19, 2013
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After results that beat Wall Street estimates, Avon CEO Sheri McCoy will do her best to wow analysts this week at the CAGNY conference that is set for Thursday. Specifically, McCoy will have to explain her plans to improve Avon's inadequate technology platform as well as detail a program to boost representatives' income.

Last week, Avon reported a bit of good news as fourth quarter sales fell 1% to $3 billion, but increased 1% in constant dollars. Total units grew 2% and price/mix decreased 1% during the quarter. Active Representatives were up 1%. Ten months into her job as CEO, McCoy and finance chief Kimberly Ross, have taken early steps to cut costs, stanch an exodus of representatives in top markets like Brazil and Russia, and start talks with U.S. officials to settle a costly overseas bribery probe.

Those efforts have been rewarded as the company's stock has climbed from a low of $13.70 in November to close at $20.65 on Friday.

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