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Avon Q1

This article was originally published in The Rose Sheet

Executive Summary

Beauty division sales advanced 23% in the first quarter, driven by a 36% gain in skin care revenue, the company announces April 30. Launch of Anew Clinical 2-Step Facial Peeland Line and Wrinkle Correctorand the restage of Retroactive Plus generated combined sales in excess of $50 mil. during the period, CEO Andrea Jung reports. U.S. sales increased 7%, while operating profit in the unit declined 7%, due to a planned non-beauty clearance event. Consolidated net sales were up 19.5% to $1.75 bil. on a reported basis and increased 14% in local currencies. Net income jumped 49.8% to $148.1 mil., as the year-ago period included expenses of $18 mil...
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