Cosmetics maker Avon quarterly income misses estimates

A display screen shows the worth for Avon Merchandise Inc. on the put up that trades the inventory on the ground of the New York Inventory Change, Might 15, 2012. Shares of Avon Merchandise Inc fell 15 % in premarket buying and selling on Tuesday, after Coty Inc withdrew its $10.7 billion takeover bid for the world's largest cosmetics direct vendor, saying Avon had missed its deadline to start discussions. REUTERS/Brendan McDermid (UNITED STATES – Tags: BUSINESS)

(Reuters) – Avon Merchandise Inc reported lower-than-expected complete income and a quarterly loss, damage by dwindling demand for its magnificence merchandise and lowering numbers of its gross sales representatives.

Web loss attributable to the corporate was $77.6 million, or 19 cents per share within the fourth quarter ended Dec. 31, in comparison with a revenue of $91.5 million, or 17 cents per share, a yr earlier. Complete income fell 11 % to $1.40 billion, lacking the typical analysts’ estimate of $1.43 billion, in accordance with IBES knowledge from Refinitiv.

Reporting by Jaslein Mahil; Enhancing by Shinjini Ganguli

Author: Maxwell C.

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