|
Avon 1Q beats forecast
|
 |
April 27, 2001: 9:55 a.m. ET
Cosmetics maker brushes past estimates by a penny, cites higher product sales
|
NEW YORK (CNN) - Avon Products Inc., the world's leading seller of beauty and related products, on Friday reported a rise in first-quarter profits from higher sales of its cosmetics, fragrance, and toiletry products, edging past Wall Street estimates.
The company, whose products include Anew and Skin-So-Soft, reported earnings of $82.0 million, or 34 cents a diluted share, compared with $70.4 million, or 30 cents a share, a year earlier.
Analysts' estimates ranged from 33 to 34 cents, with a mean of 33 cents, according to research firm Thomson Financial/First Call. Avon (AVP: Research, Estimates) had said earlier this month that its first-quarter earnings would "slightly exceed" expectations as sales growth in the United States accelerated throughout the quarter.
| |
|
|
(Courtesy:Avon) | | |
"Our core beauty and direct selling business continues to perform exceptionally well, demonstrating that our strategies for generating profitable growth are working," said Avon CEO, Andrea Jung in a press release.
"We are looking forward to continued momentum into the second half, with the 15-market launch of Avon Wellness, our new global line of women's health and well-being products, and beComing, our new beauty and lifestyle brand that will launch at retail in the U.S. this fall," Jung said.
Sales for the quarter rose to $1.35 billion from $1.31 billion a year earlier. 
--from staff and wire reports
|
|
|
|
|
 |
|
