Comment
0
Tweet
0
Print
RSS Feeds

News summary: Avon net income drops 70 percent

Wednesday - 8/1/2012, 8:50am  ET

By The Associated Press

(AP) - THE NEWS: Avon Products said Wednesday its second-quarter net income fell 70 percent, hurt by the stronger dollar and lower demand for its makeup and skin care products

THE CONTEXT: Results are another quarter of lackluster growth for the direct-selling company, which has struggled for three years to turn around results. Revenue fell in all regions, including Latin America, its largest region.

BRIBERY PROBE: The company said it is in talks to settle investigations by the Securities and Exchange Commission and the Department of Justice into bribery allegations, which started in 2008 in China and has spread to other countries.


(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)