Avon's third quarter 2014 results saw its total revenue shoot down by 8% to $2.1bn, but increase 1% in constant dollars. Total units decreased 4% while price/mix increased 5%. Active representatives were down 4%, while average order increased 5%. Looking at beauty specifically, sales declined 9%, but increased 1% in constant dollars.
Sheri McCoy, Chief Executive Officer of Avon Products, said: "We began the year with the expectation that the second half of 2014 would show improvement relative to the first half and Avon's third-quarter results are consistent with modest improvement on both top and bottom line.” She added: "We saw good results from our EMEA region, while sluggish performance in Brazil contributed to softer results in Latin America. Despite the strong headwinds in a number of markets, we continue to make progress on Avon's turnaround journey.”
Avon's net debt (total debt less cash) at 30 September stood at $1.8bn, up $191m from the year-end 2013 level, and $172m lower than at 30 September, 2013.
