Is Avon Ready To Sell NA Unit?

According to reports in the Wall Street Journal, Avon may be considering the sale of its North American business. Stating that while no deal for the beleaguered unit is “imminent,” the newspaper cited sources who said a strategic review “indicates that Avon thinks improving its performance could take a major overhaul as opposed to more run of the mill fix-it efforts.”
 
Last week, Avon announced that it would delay its investor meeting until the Fall.
 
In a letter to investors, the company said delaying the May 13 meeting would allow Avon and its new CFO adequate time to prepare for a “more robust discussion.”
 
According to the WSJ, Avon is “struggling with its identity.”
 
The firm was removed from the S&P 500 last month and its share price has lost about 40% of its value over the past year.
 
The venerable direct seller passed on a $24.75 per share offer from Coty back in 2012. Today, Avon’s stock is around the $9 mark.
 
Avon’s revenues slid 11% to $8.9 billion in 2014. US sales dropped approximately 17% to $1.2 billion.
 
“While progress against our financial goals in 2014 was slower than I would have liked, I am pleased with the sequential improvements we made in several key markets and categories in the second half of the year. We have stronger management teams across our key markets and better discipline in executing consistently against Avon's core processes,” Sheri McCoy, CEO said back in February when the company’s full year results were announced.