Avon profit falls 40 pct

July 31 Thu Jul 31, 2014 7:23am EDT

July 31 (Reuters) - Avon Products Inc, a direct seller of beauty products, reported a 40 percent fall in quarterly profit as sales were hurt by increased competition in key markets such as Latin America and the United States.

Net income attributable to Avon tumbled to $19 million, or 4 cents per share, in the second quarter ended June 30, from $31.9 million, or 7 cents per share, a year earlier.

Revenue fell 13 percent to $2.19 billion, excluding the impact of currency fluctuations. (Reporting by Devika Krishna Kumar in Bangalore; Editing by Savio D'Souza)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.