Company News

Sales Down At Avon

Q4 shows losses in every region but Latin America.

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By: TOM BRANNA

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Avon Products Inc. posted a fourth-quarter net loss, as sales fell and costs rose, according to reports.

The company, which is searching for a new CEO amongst other issues, posted a loss of $400,000, said reports. Sales in the fourth quarter fell in every region except Latin America, where strong gains in Mexico helped make up for a drop in Avon’s biggest market, Brazil.

However, Revenue for October-December period is down 4% to $3.04 billion—ahead of analyst predictions.

“While 2012 is a year of transition and we are not planning for margin recovery, our priorities are to improve top-line performance, cost management, and cash generation,” said Andrea Jung, chief executive and chairman, in reports.


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