Key Developments: Avon Products Inc (AVP.N)
22.02USD
1 Aug 2013
$-0.84 (-3.67%)
$22.86
$23.90
$24.71
$21.38
2,194,733
926,578
$24.71
$13.71
Latest Key Developments (Source: Significant Developments)
Avon Products Inc Declares Regular Quarterly Dividend
Avon Products Inc announced that it has declared a regular quarterly dividend on its common stock of $.06 per share, payable September 3, 2013, to shareholders of record on August 15, 2013. Full Article
Avon Products Inc Goes Back To Beauty With Sale of Silpada-DJ
Dow Jones reported that Avon Products Inc said it will sell its struggling jewelry business for $85 million in cash. Avon said it will sell Silpada back to the founders of the business, and said it may pay them an additional $15 million if the business meets certain earnings targets over the next two years. Avon expects to book an $80 million pre-tax loss from the sale in the second quarter, and plans to use the proceeds to repay debt and other purposes. The deal is expected to close July 3. Full Article
Avon Products Inc Declares Regular Quarterly Dividend
Avon Products Inc announced that it declared a regular quarterly dividend on its common stock of $.06 per share, payable June 3, 2013, to shareholders of record on May 14, 2013. Full Article
Avon Products Inc Announces Chairman Change-Form 8-K
Avon Products Inc reported in its Form 8-K on April 26, 2013, Avon Products, Inc. (Company) announced that Fred Hassan, Chairman of the Board of Directors (Board), resigned from the Board effective April 26, 2013. The Board also appointed Douglas R. Conant as Chairman of the Board at the April 25, 2013 special meeting, effective April 26, 2013. Full Article
Avon Products Inc Announces Reduction Of Headcount And Closure Of Underperforming Markets; Sees Q1 2013 Charge
Avon Products Inc announced that its latest actions include a global headcount reduction of more than 400 associates across all regions and functions, and the restructuring or closure of certain smaller, underperforming markets, primarily in Europe, Middle East & Africa, including the exit of the Republic of Ireland market. The Company expects these actions to be largely completed before the end of 2013. The Company also announced that for first quarter of 2013, it expects charges related to these actions to be in the range of $35 to $40 million before taxes and that approximately $20 million of that total will be recorded. Full Article
Avon Products Inc Declares Regular Quarterly Dividend
Avon Products Inc announced that it has declared a regular quarterly dividend on its common stock of $.06 per share, payable March 1, 2013, to shareholders of record on February 26, 2013. Full Article
Avon Products Inc Will Cut 1,500 Jobs-Reuters
Reuters reported that Avon Products Inc said it will cut about 1,500 jobs globally and will exit the South Korea and Vietnam markets as part of a turnaround plan announced in November, 2012. Full Article
Avon Products Inc Declares Quarterly Dividend
Avon Products Inc announced that it has declared a regular quarterly dividend on its common stock of $.06 per share, down from $.23 per share in the previous quarter. The dividend is payable December 3, 2012, to shareholders of record on November 15, 2012. Full Article
US FDA Warns Avon Products Inc To Smooth Out Claims On Skin Care Products-Reuters
Reuters reported that the U.S. Food and Drug Administration warned beauty products company Avon Products Inc to stop advertising its Anew range of skin care products using language that makes them sound like drugs. The FDA reviewed the Company's website in August, and objected to claims made about the products Anew Clinical Advanced Wrinkle Corrector, Anew Reversalist Night Renewal Cream, Anew Reversalist Renewal Serum, Anew Clinical Thermafirm Face Lifting Cream, and Solutions Liquid Bra Toning Gel. The regulator warned Avon Products Inc in a letter dated October 5 that the claims on the Company's website implied those products were intended to affect the structure or function of the human body, which would classify them as drugs. Full Article
Avon Products Inc's Executive Chairman Andrea Jung To Step Down From Board
Avon Products Inc announced Andrea Jung has informed the Board of Directors that she will step down as Executive Chairman and Board member, effective December 31, 2012 after transition to new leadership under CEO Sheri McCoy. Ms. Jung will continue as a senior advisor to the Board beginning on January 1, 2013. Fred Hassan, currently lead independent director, will succeed Ms. Jung next year and assume the position of non-executive Chairman on January 1. Mr. Hassan is a Managing Director and partner at Warburg Pincus and the former Chairman and Chief Executive Officer of Schering-Plough Corp. Full Article
Avon profit beats views; offer to settle bribe probe rejected
- Avon Products Inc reported higher-than-expected earnings on Thursday, helped by a jump in business in its biggest market, Latin America, but said its attempt to settle a bribery investigation was rebuffed.

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