Breaking News

Avon Gets Whacked in Q2

July 31, 2014

Profits fall 40% on increased competition

How low can it go? Beleagured Avon Products Inc, still can't find the bottom. Today, the company reported a 40% decline in quarterly profits ($91 million) on a 13% decline in revenue ($2.19 billion). Avon blamed increased competition in key markets such as Latin America and the US.


"As anticipated, our second-quarter results were tough.  While Avon's turnaround remains challenging, we are putting the people and processes in place to lay the foundation for returning Avon to sustainable, profitable growth," said Sheri McCoy, chief executive officer of Avon Products, Inc. "As we move to the second half of the year, we continue to expect improved performance."


Sales in North America dropped 20% to $304 million. Sales in Latin America fell 16% to $1.05 billion. Sales in Europe, Middle East and Africa fell 3% to $658 million and sales in Asia-Pacific declined 13% to $172 million.


For the six months, Avon's sales fell 12% to just under $4.3 billion.



Related End-User Markets:

blog comments powered by Disqus
  • Why Look Good, When You Can Look Perfect?

    Why Look Good, When You Can Look Perfect?

    Tom Branna, Editorial Director||April 4, 2016
    A new way to try-before-you buy is capturing the attention of consumers and the beauty industry.

  • NYSCC Explores Product Innovation

    NYSCC Explores Product Innovation

    Christine Esposito, Associate Editor||March 14, 2016
    New product development, formulation expertise and proper preservation are topics of discussion at February monthly meeting.

  • Battling Pollution via Skin Care

    Battling Pollution via Skin Care

    Christine Esposito, Associate Editor||March 7, 2016
    Canadian start-up turns to crowdfunding to help launch a new anti-pollution moisturizer.

  • Who Makes That?

    Who Makes That?

    Tom Branna, Editorial Director||April 1, 2016
    From concept and formulation to testing and filling, today’s contract manufacturers perform a range of services for marketers

  • Multi-Cultural Beauty Update

    Multi-Cultural Beauty Update

    Christine Esposito, Associate Editor||April 1, 2016
    Established brands and start-ups address the needs of multi-cultural beauty consumers.

  • The Scalp Microbiome

    The Scalp Microbiome

    Nava Dayan PhD, Dr. Nava Dayan LLC||April 1, 2016
    A review of recent findings and innovative approaches for treating scalp disorders.