Avon Reports Weaker Sales For Full-Year 2013

Avon Products, Inc. reported total revenue declined 6 percent to $10.0 billion in 2013, with total units dropping 5 percent and price/mix increasing 4 percent. Total Beauty sales decreased 7 percent, or 2 percent in constant currency basis, while sales of its Fashion & Home business dropped 4 percent, or increased 1 percent in constant dollars. Operating profit was $427 million, with operating margin dropping 70 basis points to 4.3 percent. Adjusted operating profit was $791 million, with adjusted operating margin 130 basis points to 7.9 percent, compared with 2012. Net loss for the year was $1 million. For the fourth quarter of 2013, the company said revenue dropped 10 percent from the same quarter of the previous year, with operating loss of $17 million.