Avon Products, Inc. Announces Steps to Improve Operational Efficiency and Reduce Portfolio Complexity
AVON PRODUCTS (AVP)
Last avon products earnings: 10/31 06:45 am
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US:NYSE Investor Relations:
investor.avoncompany.com
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Source: PR Newswire
LONDON, Jan. 30, 2019 /PRNewswire/ -- Avon Products, Inc. (NYSE: AVP) ("the Company"), a globally recognised leader in direct selling of beauty products, today announced significant steps in the strategy to 'Open Up' Avon, particularly its efforts to simplify its operating structure, reduce product line complexity and reduce inventory holding levels. Over the past several months, Avon has taken decisive action to identify and capture cost savings within the Company's existing commercial practices, supply chain operations and global infrastructure footprint. In keeping with a focus on ensuring Avon's operations and infrastructure are fit-for-purpose, the Company is pursuing a structural reset of its inventory processes, including a 15% reduction in inventory levels and 25% reduction in Stock Keeping Units (SKUs) and a 10% reduction in its global headcount. 15% Inventory Reduction & Write-Off Avon is taking a one-time inventory obsolescence expense of approximately $88 million, as a r
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