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Avon guidance

This article was originally published in The Rose Sheet

Executive Summary

Q4 sales expected to grow 13% in dollars, and be up "high single digits" excluding the impact of foreign exchange, Avon announces Dec. 8 in guidance revision. Performance will be fueled by 16% jump in beauty product sales and 9% increase in the number of active representatives, direct-seller states. Avon also expects earnings to be $1.03-$1.04 per share, "with the upside driven by a gain of approximately $.05 per share from a tax settlement expected to be finalized this month," firm says. U.S. sales will be up low-to-mid single digits, lower than originally anticipated due in part to weak fragrance promotions. Teen brand Mark expected to contribute 1% to overall U.S. sales growth. Full year earnings will be around $2.72 per share, versus earlier estimates of $2.65-$2.70 (1"The Rose Sheet" Nov. 3, 2003, p. 6)...
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