Avon and Gillette post first quarter double-digit sales gains.
This article was originally published in The Rose Sheet
Executive Summary
AVON MEXICO FIRST QUARTER PRETAX PROFITS REDUCED BY ABOUT $10 MIL. primarily due to the devaluation of the Mexican peso, the company announced April 20. However, Avon Chairman and CEO James Preston noted, "we think the worst is behind us in Mexico and the currency impact should lessen in succeeding quarters because of revised marketing and sales plans being implemented there." At a March 30 analysts' meeting in New York City, Avon predicted "a significant gain in market share in most of the categories in which we compete" in Mexico in 1995 ("The Rose Sheet" April 3, p. 10)