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Avon Faces Potential High Penalties Under SEC Deal; Q3 Sales Down 7%

This article was originally published in The Rose Sheet

Executive Summary

Avon says the impact of a settlement with the U.S. Securities and Exchange Commission and Department of Justice to resolve investigations into its foreign business practices in recent years could be significantly greater than planned for. Meanwhile, the firm works to rebuild its direct-sales platforms in North America, where declines in field representatives have created a drag on revenue.

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