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September 25, 2001
By: TOM BRANNA
Editor
Avon Products Inc. today reaffirmed its forecast calling for third quarter earnings of 44 cents a share before one-time items, matching the consensus analyst estimate, on 5-6% sales growth.The world’s largest direct seller of cosmetics said that mail disruptions following the Sept. 11 attacks on the World Trade Center and Pentagon caused some delay in receiving orders from its sales representatives, but added that order flow has now returned to normal.“Representative activity has returned quickly to normal levels, and we remain confident in our estimate of 7% sales growth and 3% order growth in the U.S. in the third quarter,” Andrea Jung, Avon chairman and chief executive, said in a news release.Excluding the impact of foreign exchange fluctuations, Avon said its sales would increase 11-12% in the quarter.
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