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.