Avon Q1 2019 Revenue Down 15%

Avon Q1 2019

Avon Products, Inc. (NYSE: AVP) announced revenue for the quarter ended March 31, 2019, was $1.19 billion, down 15 percent from the first quarter of 2018.

Sales in Europe, Middle East and Africa fell 19 percent to $458.7 million and 17 percent to $414.7 million in South Latin America. Sales in Asia Pacific increased 3 percent to $115.3 million.

Active Representatives and Ending Representatives each declined 9 percent, with decreases reported in all segments but largely driven by declines in Brazil and Russia.

“We are pleased with the progress that we have made in the first quarter,” said Jan Zijderveld, Avon CEO. “We delivered constant-dollar revenue improvements in three of our four geographical segments, adjusted operating margin expansion of 50 basis points and free cash flow in line with seasonal trends, as we continue to make progress deploying our Open Up Avon strategies.”

Zijderveld said the company’s focus on revenue growth management, including less discounting and more targeted and effective incentives and promotion management, led to a 6 percent improvement in average orders and drove overall price/mix up 8 percent across the portfolio.

To read the full Avon Q1 2019 report, click here.

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