Avon Products' turnaround plan is firing on all cylinders, according to chairman and chief executive officer Andrea Jung.
For the first-quarter ended March 31, Avon’s net income soared to $150 million, or 34 cents a diluted share, from $56.2 million, or 12 cents, in the year-ago period. Like last quarter, accelerated advertising spending fueled revenue growth of 9 percent to $2.19 billion from $2.0 billion, with all six of the direct seller’s operating regions contributing to the growth.
Operating profit nearly tripled to $237.8 million from $86.2 million.
For complete coverage, see tomorrow's issue of WWD.
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