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Avon Products Not Moving As Third-Quarter Earnings Show

 (Image source: freestuffinder)

style="line-height:21.75pt">Avon Products, Inc. (NYSE:AVP) had a terrible third-quarter showing with North American operations severally down. The beauty products maker reported a net loss of $5.5 million. Compared to a year ago, profits were in the positive territory at $31.6 million. Adjusted net income for the quarter was $60 million or 14 cents per share, which was five cents below estimates. Revenue was down 7 percent to $2.26 billion. Revenues particularly in North America saw a decline of 19 percent. In addition, the number of sales reps also declined in the region and globally. Worldwide sales were also down. The company CEO cited the macroeconomic picture and the continued slowdown in North America for the weakness in the quarter.