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In Brief: Avon

This article was originally published in The Rose Sheet

Executive Summary

Avon: Relocation of the company's corporate headquarters in Manhattan during the first half of 1997 will augment earnings per share by approximately 10 [cents] starting in 1998, the company reports Aug. 8. The move will reduce lease expenses by roughly $11 mil. a year, Avon explains. The firm's decision to remain within the city limits as opposed to moving to a suburban location in the tri-state area also was influenced by "a package of financial incentives" from New York City, the company notes. The staff at Avon-U.S. will be relocated to 1251 Avenue of the Americas, while corporate staff will be based at an address nearby...
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