Editors Note
Avon Sales Up, Despite Weak Results In North America
by
Apr 29, 2008, 12:12 PM
Its first-quarter total revenue gained 14% compared to the same period last year, 6% in local currency, with sales of beauty products climbing 17%. And net income gained 26%, to $185 million. In North America, first-quarter revenue fell 6%, "reflecting the impact of a weak economy, and to a lesser degree, service-related problems in filling orders."
The company says it spent $82 million in advertising in the quarter, a 14% increase from the prior year, to support the launch of such products as Anew Ultimate Age Repair Day Cream and Contouring Eye System, Ultra Color Rich Lipstick and Supershock Mascara, as well as recruitment advertising. And it says the growth in active Avon reps jumped 14%, it highest growth level in years.--Nina M. Lentini
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