Avon Products, Inc.
|Company Name||Avon Products, Inc.|
On August 3, 2017, Avon issued a press release announcing its second quarter 2017 financial results and held a conference call to discuss the results. The Company reported a net loss of $0.12 per share and a 3% decline in active representatives. Avon also reported that Brazil revenue was “down 2% in constant dollars, primarily driven by a decrease in Active Representatives.” On the call, Avon's Chief Financial Officer acknowledged that, despite Avon’s earlier representations, the remedial actions in Brazil (i.e., stricter credit terms applied to recruiting new representatives) were negatively impacting active representatives and revenue in Brazil.
On this news, shares of Avon fell $0.36, or 10.71%, to close at $3.00 per share on August 3, 2017, thereby injuring investors.
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