Report
Erin Lash
EUR 147.86 For Business Accounts Only

We don't believe efforts to shed costs to fund brand investments will enhance Avon's eroding edge.

Even in the face of macro challenges, no-moat Avon Products’ spending on its products and representatives may be gaining steam, as underlying sales (which reflect sales outside North America following the sale of the domestic business this year) jumped 5%. However, these results come on top of a weak year-ago period, when sales tumbled 7%. As such, it will take a few more quarters to assess whether this improvement is sustainable.
The highlight was profit improvement, as adjusted operating margi...
Underlying
Avon Products Inc.

Avon Products is a manufacturer and marketer of beauty and related products. The company's product categories are Beauty and Fashion and Home. Beauty consists of skincare, fragrance and color (cosmetics). Fashion and Home consists of fashion jewelry, watches, apparel, footwear, accessories, gift and decorative products, housewares, entertainment and leisure products, children's products and nutritional products. The company's business is conducted primarily in one channel, direct selling. The company's reportable segments are based on geographic operations in four regions: Europe, Middle East & Africa; South Latin America; North Latin America; and Asia Pacific.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Erin Lash

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