Edition:
India

Avon Products Inc (AVP.N)

AVP.N on New York Stock Exchange

2.09USD
13 Dec 2017
Change (% chg)

$-0.04 (-1.88%)
Prev Close
$2.13
Open
$2.13
Day's High
$2.13
Day's Low
$2.06
Volume
640,648
Avg. Vol
986,550
52-wk High
$6.03
52-wk Low
$1.86

Latest Key Developments (Source: Significant Developments)

Avon Q3 EPS $0.01 from continuing operations
Thursday, 2 Nov 2017 

Nov 2 (Reuters) - Avon Products Inc ::Avon reports third-quarter 2017 results.Q3 adjusted earnings per share $0.03 from continuing operations.Q3 earnings per share $0.01 from continuing operations.Q3 earnings per share view $0.07 -- Thomson Reuters I/B/E/S.Q3 revenue $1.4 billion.Q3 revenue view $1.41 billion -- Thomson Reuters I/B/E/S.Avon Products Inc qtrly ‍south latin america revenue was down 1 pct, or relatively unchanged in constant dollars​.Avon Products Inc qtrly ‍north latin america revenue was up 5 pct, or 2 pct in constant dollars​.Avon Products Inc - ‍expects to meet its 2017 cost savings target and deliver positive free cash flow for year​.Avon Products Inc - ‍"with mixed results in q3 and some positive trends, we expect to see modest improvement continue in q4"​.Avon Products-is within about $25 million of annual savings target,is over half way to total cost savings targeted for 3 year transformation plan of $350 million​.Avon Products Inc - ‍expect annual results to come in below 2017 guidance​.Avon Products -‍expects improvement in q4, with flat to slightly positive performance compared to last year in constant-dollar revenue, adjusted operating margin​.Avon Products - ‍ during Q3 of 2017, co recorded costs to implement restructuring within operating profit of approximately $6 million before and after tax​.  Full Article

Avon Products CEO McCoy expected to step down from company- CNBC, citing DJ
Thursday, 15 Jun 2017 

June 14 (Reuters) - :Avon Products CEO McCoy expected to step down from the company - CNBC, citing DJ.  Full Article

Avon Products files for offering of Series C preferred stock up to $435 mln
Tuesday, 11 Oct 2016 

Avon Products Inc : Files for secondary offering of Series C preferred stock up to $435 million by selling securityholders . In addition, files for secondary offering of common stock up to $147.1 million by selling securityholders .In addition, files for secondary offering Series D preferred stock up to $142.8 million by selling securityholders.  Full Article

Avon Products closes senior secured notes offering
Tuesday, 16 Aug 2016 

Avon Products Inc :Avon announces closing of senior secured notes offering.  Full Article

Avon reports second-quarter 2016 results
Tuesday, 2 Aug 2016 

Avon Reports Second : Q2 adjusted earnings per share $0.07 from continuing operations . Q2 revenue fell 8 percent to $1.4 billion . Q2 earnings per share view $0.02 -- Thomson Reuters I/B/E/S . Quarter 2016 results . Q2 loss per share $0.01 . Q2 earnings per share $0.07 from continuing operations . Says company has identified additional savings, within supply chain and sourcing . Qtrly U.K. Revenue was down 7%, or was relatively unchanged in constant dollars .Says company has identified targeted $70 million of savings to be realized in 2016.  Full Article

Avon products announces cash tender offers
Tuesday, 2 Aug 2016 

Avon Products Inc : Avon announces cash tender offers .Commenced cash tender offers to purchase up to a total of $650 million aggregate principal amount of its outstanding notes.  Full Article

Avon Products Inc to cut jobs, shift headquarters to UK - Reuters News
Tuesday, 15 Mar 2016 

Avon Products Inc:Avon Products Inc said on Monday it would cut about 2,500 jobs worldwide and shift its corporate headquarters to the UK as part of its three-year turnaround plan. Avon shares were up nearly 4 percent at $4.55 in extended trading - RTRS.The company sold most of its North American business to Cerberus Capital, its biggest investor, after four years of falling sales.Avon said it expected to record $60 million in pre-tax charges related to job cuts in the first quarter.The company, which has 28,300 employees, said the transition of its headquarters would occur over time.In January, Avon had outlined plans to cut $350 million in costs over the next three years, invest in technology and tap social media to revive sales.However, a bigger-than-expected fall in fourth-quarter sales indicated that the company had failed to revive demand for its cosmetics in key markets."We believe that there is still much more that needs to be done to improve the business as outlined in our December 3 letter," shareholder Barington Capital said in a statement.In December, investors led by Barington proposed a restructuring of Avon, and said they had lost confidence in the makeup brand's leadership.Barington added on Monday that it continued to believe Avon needed to add new independent directors.Avon said it would maintain its current facilities in Suffern and Rye, New York and continue to trade on the New York Stock Exchange under its current symbol.  Full Article

Avon Products Inc outlines plans to save $350 mln in next three years - Reuters
Thursday, 21 Jan 2016 

Avon Products Inc:Struggling cosmetics maker Avon Products Inc AVP.N expects to reduce about $350 million in costs over the next three years, Chief Executive Sheri McCoy said at the company's investor day on Thursday - RTRS.Avon is also looking at "all alternatives" for its China business, which represents about 1 percent of total sales, McCoy said - RTRS.Cerberus Capital, which said last month it would buy a majority stake in Avon's North America business, said on Thursday it had identified "significant operational efficiencies" in the region. The hedge fund also said its operating plan for Avon included job cuts. - RTRS.  Full Article

Avon Products Inc to reduce global IT headcount - Reuters
Friday, 8 Jan 2016 

Avon Products Inc:Beauty products maker Avon Products Inc AVP.N said it would cut some global IT jobs after hiring Hewlett Packard Enterprise Co HPE.N to run some of its technology operations - RTRS.Avon, which expects the program to be completed by the end of 2016, did not specify how many employees would be affected. (1.usa.gov/1UAkPwe) The company said in a filing it expects pre-tax savings of $10 million-$15 million annually, beginning 2019 - RTRS.Avon, which in December sold the majority of its North American business to Cerberus Capital, said it expected to record a charge of about $30 million. - RTRS.Hewlett Packard will operate Avon's IT infrastructure in four areas, offering data center services, network management among other services - RTRS.  Full Article

Photo

Hack of Wall Street regulator rattles investors, lawmakers

WASHINGTON Wall Street's top regulator came under fire on Thursday over its cyber security and disclosure practices after admitting hackers had breached its database of corporate announcements in 2016 and may have used it for insider trading. | Video