April 2, 2012 |
There'll be no lipstick-sharing - yet - between Rimmel owner Coty Inc. and Avon Products Inc. after Avon rejected Coty's $10 billion cash bid Monday. Coty's attempt to buy Avon at $23.25 a share (a 20% premium over the Friday closing price) was both public and unsolicited. In a snippy note on its website, Avon said the offer “is opportunistic and not in the best interest of Avon's shareholders.” Coty had also made another, private overture less than two weeks earlier “that was substantially the same,” according to the note.
December 3, 2011 |
Makeup has been a massive seller this year as beauty-minded customers picked up 117 million units of various products, worth about $2.8 billion, a report said. Over the first 10 months of 2011, dollar sales of makeup jumped 8% while unit sales rose 5% compared with the same period last year, according to research firm NPD Group. Every segment saw dollar growth. Nail product sales swelled 59% year-over-year while eye products increased 10%. Lip products earned manufacturers 8% more revenue while facial cosmetics were on a 7% upswing.
May 1, 2011 |
Question: I am disappointed with my shares of Avon Products Inc. What do you think is next for the company? Answer: Investors expect the stock of a brand-name company to be sturdy and reliable through all market conditions, come rain or shine. But the prospects of the world's largest direct marketer of cosmetics, fragrances and skin care have been cloudy, with some storm activity. Avon markets to women in more than 100 countries through about 6.5 million independent sales representatives.
February 20, 2009 |
Avon Products Inc., the world's largest door-to-door cosmetics seller, said 2,500 to 3,000 positions would be eliminated as part of a new restructuring program designed to create annual savings of about $200 million by 2013. The job cuts, which may account for as much as 7.1% of the New York company's workforce, will take place over the next four years, executives said at a consumer analyst conference in Boca Raton, Fla.
April 13, 2008 |
About 870,000 Fun N' Games magnetic dartboards, made in China and imported by Henry Gordy International Inc., were recalled because small magnets on the darts can detach and young children can swallow them, the Consumer Product Safety Commission said. If more than one magnet is swallowed, the magnets can attract one another and cause internal damage. The products were sold at Family Dollar stores nationwide from September 2002 through last month. For more information, go to www.cpsc.gov.
January 9, 2008 |
Avon Products Inc. said it would cut 2,400 jobs as part of its multiyear restructuring plan, which will cost more than originally expected and ultimately save the beauty-products maker $430 million annually. The New York-based company, which sells beauty products directly to customers, operates in 100 countries through more than 5 million independent sales representatives. Avon said it would take a charge of $120 million in the fourth quarter for restructuring some international direct selling operations and realigning supply-chain operations in Western Europe and Latin America.