Avon Reports Third-Quarter 2016 Results
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Avon Products (AVP) Misses Q3 EPS by 1c; Updates on Transformation Plan
November 3, 2016 6:46 AM EDTAvon Products (NYSE: AVP) reported Q3 EPS of $0.02, $0.01 worse than the analyst estimate of $0.03. Revenue for the quarter came in at $1.41 billion versus the consensus estimate of $1.42 billion.
Transformation Plan
In January 2016, the Company announced a three-year Transformation Plan, which includes investing in growth, reducing costs in an effort to continue to improve cost structure and improving financial resilience.
As a result of this plan, the Company expects pre-tax annualized cost savings of approximately $350 million after three years, with an estimated $200 million from supply chain... More
