Avon Posts Loss; Lower Sales

  • February 14, 2012

Still in the midst of a search for a new CEO, Avon Products says that its fourth-quarter revenue fell 4% to $3 billion, and the number of its active sales reps fell 3%.

While operating profit was $13 million in the quarter, the company took a $263 million goodwill charge, related to the acquisition of Silpada Designs. In the U.S., fourth-quarter sales fell 5%. The company says it will have some layoffs as a result, but that it is delaying major decisions until the new CEO is on board.

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