Avon Products Inc. may soon be able to put litigation related to the ongoing probe into bribery allegations in China and other countries behind it. But the challenges for the direct seller continue to build, particularly as it loses ground in its home market of North America, where sales slid 21 percent in the fourth quarter.
On Thursday, Avon said it may be getting closer to reaching a settlement with the U.S. Department of Justice and the Securities and Exchange Commission related to the Foreign Corrupt Practices Act investigation. Avon chief executive officer Sheri McCoy told Wall Street analysts during the company’s fourth-quarter earnings call that while talks continue and a settlement is not guaranteed, the company is forecasting that a reasonable settlement with both agencies would be in the range of $89 million to $132 million.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"