Here's how bad things have gotten at Avon: It's trading in single-digit territory for the first time since Derek Jeter won Rookie of the Year. Yes, that Derek Jeter. The one who retired in September after an 18-year career with the Yankees.
So what happened to Avon (AVP), which traded at $40 in 2008?
A six-year bribery probe definitely didn't help. Avon agreed to pay $135 million to settle the charges earlier this year and spent over $300 million to investigate itself.
Avon's underlying business looks pretty ugly too. The company has been hurt by sluggish sales and is struggling to attract and hold onto sales reps.
The world's largest direct seller of cosmetics was dealt another setback last month when Standard & Poor's dropped Avon's debt to junk status despite efforts to cut $400 million in costs by 2016.
