Avon Reports Flat Fourth Quarter Sales
Avon Products Inc., New York, yesterday reported flat fourth quarter 1999 sales of $1.57 billion, a 1 percent increase over its $1.55 billion a year ago. It's operating profit rose 7 percent in the fourth quarter, while net income declined 4 percent to $141.7 million from the same period in 1998.The company's profit performance is solid, and Avon global efforts, particularly in Asia and Europe, continue to experience double-digit gains, according to president/CEO Andrea Jung.
"We are committed to making meaningful investments this year to strengthen our core business and enhance our brand image, while at the same time continuing to improve our operating margins," she said in a statement.
