Avon Reports 1% Increase for Q3 2018 Revenue

Avon Products UK HQ

Avon Products, Inc. (NYSE: AVP) announced its results for the quarter ended September 30, 2018.

Total reportable segment revenue in reported currency increased 1 percent to $1.4 billion. Adjusted total reportable segment revenue in constant dollars decreased 4 percent on a like-for-like basis. Active representatives and ending representatives, both from reportable segments, declined 5 percent and 6 percent, respectively.

“As we said at the recent investor day, it is going to take time for us to execute this turn-around,” said Avon CEO Jan Zijderveld. “While we are not yet satisfied with the overall quarterly results, I am encouraged by the speed at which initiatives are being adopted in our markets. We are beginning to see benefits from recruiting and training initiatives that have been put in place in countries around the world.”

Revenue by region:
  • Europe, Middle East & Africa revenue was down 8 percent, or 3 percent in constant dollars.
  • South Latin America revenue was up 9 percent, significantly impacted by an IPI tax reversal in Brazil.
  • North Latin America revenue was relatively unchanged, or up 5 percent in constant dollars.
  • Asia Pacific revenue was up 2 percent, or 6 percent in constant dollars.

To view the full Avon Q3 2018 financial report, click here.

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