05.03.18
In announcing Avon Products, Inc.’s results for the quarter ended March 31, 2018, Jan Zijderveld, Avon CEO, said, “Avon’s first-quarter results were unsatisfactory and do not represent the underlying potential of the business. During my first 90 days, I have been deeply engaged in a comprehensive review of the company's operations, including on-the-ground visits to many of our top markets where I have met with many of our direct selling representatives.”
Zijderveld emphasized, "While we are focused on the formulation of Avon's longer-term plans, we are already implementing near-term fixes that support the success and satisfaction of our representatives--starting with actions to improve service delivery. Our long-term mission is clear, to return Avon to a competitive market position, and we are moving with deliberate urgency to design our turnaround plan."
Total Revenue increased 5% to $1.4 billion, or 2% in constant dollars, both including a 6% reporting benefit due to the impact of adopting the new revenue recognition standard required by generally accepted accounting principles in the United States ("GAAP").
Zijderveld emphasized, "While we are focused on the formulation of Avon's longer-term plans, we are already implementing near-term fixes that support the success and satisfaction of our representatives--starting with actions to improve service delivery. Our long-term mission is clear, to return Avon to a competitive market position, and we are moving with deliberate urgency to design our turnaround plan."
Total Revenue increased 5% to $1.4 billion, or 2% in constant dollars, both including a 6% reporting benefit due to the impact of adopting the new revenue recognition standard required by generally accepted accounting principles in the United States ("GAAP").
