UPDATE 2-Avon posts surprise loss as Brazil truck strike bites, shares fall [Reuters]
AVON PRODUCTS (AVP)
Last avon products earnings: 10/31 06:45 am
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Source: Reuters
UPDATE 2-Avon posts surprise loss as Brazil truck strike bites, shares fall | Reuters Reuters Staff 3 Min Read (Adds CEO comment, background on CEO’s plans, updates shares) Aug 2 (Reuters) - Cosmetics maker Avon Products Inc reported a surprise quarterly loss on Thursday, hurt by a truckers’ strike in Brazil that delayed shipments, and the company signed up fewer sales representatives, sending its shares down 10 percent. Sales in south Latin America, which includes Brazil, fell 8 percent to $516.1 million in the second quarter. Brazil’s economy was paralyzed by an 11-day strike in May over soaring diesel fuel prices. Active Representatives, or sales representatives who go door-to-door direct-selling Avon’s cosmetics and creams, declined 4 percent for the second straight quarter. Chief Executive Jan Zijderveld has been trying to turn around the iconic cosmetics brand that has faced a number of issues, including declining sales and shareholder pressure, in the recent past. The stock tha
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