CEO McCoy: Avon Q3 “Disappointing,” But Focus Is On Future
This article was originally published in The Rose Sheet
Executive Summary
After posting third-quarter profits of $31.6 million, down 81%, Avon announces a cost savings plan aimed at saving the firm $400 million over three years. CEO Sheri McCoy was upbeat about Avon’s prospects, but acknowledged that financial troubles would not be resolved by “a magic bullet or quick fix.”