Avon Products, Inc. (NYSE: AVP) today announced its results for the quarter ended June 30, 2018.
Jan Zijderveld, Avon CEO said,
“Entering my seventh month at Avon, I am encouraged by improved revenue growth in 3 of our top 5 markets and the promising trends we are seeing across the majority of the rest of our business.
This is underpinned by our improving service quality and operational efficiencies, and in turn reflected in our higher operating margin.
However, we are not yet satisfied with the overall operating results of the quarter.”
Mr. Zijderveld continued,
“The senior leadership team and I continue to focus on immediate corrective priorities, while also finalizing plans for Avon’s long-term success. We are prioritizing achieving profitable, sustainable topline growth by focusing on our Representative experience and satisfaction through enhanced training for 500,000 Representatives in the second half, as well as new sales incentives programs, better service and improved forecasting.
We are becoming more agile, halving the time to bring on-trend products to market with over 200 expected to launch in the second half. We will support our second half global launches with an additional $30 million of advertising and marketing spend.
And, finally, we are placing digital at the center of all actions