Avon shares rise after it guides for revenue growth and $400 million in cost savings by 2021 [MarketWatch]
AVON PRODUCTS (AVP)
Last avon products earnings: 10/31 06:45 am
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Source: MarketWatch
Avon shares rise after it guides for revenue growth and $400 million in cost savings by 2021 Avon Products Inc. AVP, +4.17% shares jumped 4.2% in early Friday trading after the beauty company guided for low-single digit revenue growth, low double-digit margins, and $400 million in cost savings by 2021. The announcement is part of Avon's investor day, in which the company said it has a strategy to reboot the company that includes a focus on recruiting and retaining sales talent and refreshing the brand. Avon will generate cost savings from manufacturing optimization, rationalizing distribution, a revamp of job functions and facilities, and revenue management. The company plans to make about $300 million in investments into things like new categories and marketing, training, and digital tools. Avon shares have rallied 16.3% for the year so far while the S&P 500 index SPX, +0.31% has gained nearly 10% for the period. Have breaking news sent to your inbox. Subscribe to MarketWatch'
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