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First quarter report shows $1.3 billion in revenue.
May 5, 2016
By: Melissa Meisel
Avon Products, Inc. posted a 16% loss in revenue to $1.3 billion for the first quarter of 2016. “Our first-quarter results were in line with our expectations, and we are executing against our transformation plan with speed and rigor. Since sharing the plan with the investment community in January, we have successfully completed the sale and separation of the North America business, implemented a new organizational structure, identified actions to deliver our 2016 savings targets, and reconstituted our Board of Directors,” said Chief Executive Officer Sheri McCoy. “With these actions, we are well-positioned as we move forward aggressively to drive out cost, invest in growth, and improve our financial flexibility.”
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