Avon is moving full-steam ahead on its turnaround track.
The direct seller, which is nearing the third year of its restructuring plan, reported net income for the third quarter ended Sept. 30 that soared 61 percent to $139.1 million, or 32 cents a diluted share, from $86.4 million,or $19 cents, in the year-ago period. Increased advertising spending, which increased 44 percent to $96 million in the quarter, fueled revenue growth of 14 percent to $2.35 billion from $2.06 billion, with all six of the company’s operating regions contributing to the growth.
Sales of beauty products gained 16 percent and the number of active representatives increased 10 percent, boosted by Avon’s global Hello Tomorrow marketing campaign and the firm’s efforts to improve the value proposition for its direct sales force.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)