Key Developments: Avon Products Inc (AVP)

AVP on New York Consolidated

26 May 2015
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Latest Key Developments (Source: Significant Developments)

Avon Products Inc affirms issuer default rating at 'BB'
Friday, 2 May 2014 07:09pm EDT 

Avon Products Inc:Affirms long-term issuer default rating (IDR) at 'BB.  Full Article

Avon Products Inc declares regular quarterly dividend
Thursday, 1 May 2014 07:00am EDT 

Avon Products Inc:Declares regular quarterly dividend on its common stock of $.06 per share.Payable June 2 to shareholders of record on May 15.  Full Article

Avon Products, Inc. and Coty Inc intent regarding commercial arrangement
Thursday, 20 Feb 2014 08:01am EST 

Avon Products, Inc. and Coty Inc:Executes a letter of intent regarding a commercial arrangement.Says where Avon Brazil would market and sell select Coty fragrances and its ancillaries through Avon's 1.5 mln independent Sales representatives in Brazil.Says although the details are still being finalized, the intent is for Avon to carry a collection of Coty's celebrity and lifestyle fragrances in the Avon Brochure in Brazil.  Full Article

Avon Products Inc and Korres Natural Products SA enter into strategic alliance in Latin America
Monday, 10 Feb 2014 06:00pm EST 

Avon Products Inc:Enters into an agreement through which Korres Natural Products SA has granted Avon exclusive rights to develop, manufacture and market KORRES products in Latin America.Created by Greek pharmacist George Korres, KORRES is a Greek skincare brand established for its efficacious natural formulations.This long-term strategic alliance includes all major markets where Avon operates in Latin America, and provides Avon the option to purchase all of the intellectual property rights to the KORRES products in that region.  Full Article

Avon Products Inc maintain regular quarterly dividend
Friday, 7 Feb 2014 07:00am EST 

Avon Products Inc:Says the Board has declared a regular quarterly dividend of $.06 per common share.Says it is payable on Mar. 3, to shareholders of record on Feb. 28.  Full Article

Avon Products Inc cuts 650 jobs - Reuters
Wednesday, 11 Dec 2013 10:54am EST 

Avon Products Inc:Says it will halt the further roll-out of its order management technology and cut about 650 jobs - Reuters.Says in April it would slash 400 jobs.  Full Article

Avon Products Inc Shares Fall Sharply - Reuters
Thursday, 31 Oct 2013 12:50pm EDT 

Reuters reported that Avon Products Inc's quarterly sales slipped, missing forecasts and sending its shares fell sharply as investors questioned whether its turnaround plan was working. The weak results, triggered by declines in North America as well as emerging markets like Mexico and Russia, knocked its stock to its lowest level since February, when Chief Executive Sheri McCoy started detailing her plan to return Avon to growth.  Full Article

Avon Products Inc Issues FY 2013 Revenue Guidance To A Range In Line With Analysts' Estimates-Conference Call
Thursday, 31 Oct 2013 09:00am EDT 

Avon Products Inc announced that for fiscal 2013, it expects sales to be down slightly, as the sales recovery is taking longer than expected. The Company reported revenue of $10.717 billion in fiscal 2012. According to I/B/E/S Estimates, analysts are expecting the Company to report revenues of $10.344 billion for fiscal 2013.  Full Article

Avon Products Inc Declares Regular Quarterly Dividend
Thursday, 31 Oct 2013 07:00am EDT 

Avon Products Inc declared a regular quarterly dividend on its common stock of $.06 per share, payable December 2, 2013, to shareholders of record on November 15, 2013.  Full Article

U.S. Rejects Avon Products Inc's Offer TO End Bribe Investigation-DJ
Thursday, 1 Aug 2013 07:25pm EDT 

Dow Jones reported that Federal officials rejected Avon Product Inc.'s $12 million offer to settle a multiyear bribery probe, a lowball proposal for the beauty company that has spent more than a third of a billion dollars on the investigation. Avon said it is awaiting a counterproposal from the Justice Department and Securities and Exchange Commission, which shot down the offer Avon said it made in June. In early discussions, Justice Department and SEC officials have expressed their belief that Avon's penalty should exceed $100 million, a person familiar with the matter said. Spokespeople for the Justice Department and the SEC declined to comment. Avon has said it is cooperating with the Justice Department and SEC. The bribery probe has dogged Avon since 2008, costing the Company at least $340 million in legal and other bills relating to an internal investigation, according to securities filings. Avon is probing whether it violated the Foreign Corrupt Practices Act by making payments or providing gifts to officials in China to secure licenses to sell its products there. The probe began after former CEO Andrea Jung got a tip. The investigation then spread to other countries, including key markets in Latin America. Avon hired Cravath, Swaine & Moore LLP last year, and the firm has been leading the settlement negotiations, according to a person familiar with the matter. Law firm Arnold & Porter LLP conducted the board-supervised internal investigation.  Full Article

FBI looking into suspicious bid for Avon

- The Federal Bureau of Investigation is probing the suspicious buyout bid for cosmetics company Avon Products Inc by purported acquirer PTG Capital Partners, an agency official said on Friday.

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