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New Avon CEO rallies the troops after earnings

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Avon Foundation announces 2019 scholarship grant winners, taking total donated to nearly $1.5 million PR Newswire (US) - 6/13/2019 7:00:00 AM
Avon Foundation announces 2019 scholarship grant winners, taking total donated to nearly $1.5 million PR Newswire (US) - 6/13/2019 7:00:00 AM
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New Avon CEO rallies the troops after earnings
Feb. 15, 2018 9:01 AM ET|About: Avon Products, Inc. (AVP)|By: Clark Schultz, SA News Editor
Avon Products (NYSE:AVP) rallies after knocking out a Q4 profit beat on revenue of $1.57B.

The company's recorded a gross margin rate of 61.1% of sales to top the consensus estimate for a 60.8% mark and last year's level of 60.3%. A favorable product mix helped boost the company's margin rate during the quarter. Adjusted operating margin rose 250 bps to 9.8% of sales.

New CEO Jan Zijderveld makes his first appearance in an Avon earnings report. "Very few brands have Avon's brand recognition, extensive global reach and operate in attractive beauty channel categories," says the recently hired exec. "In a world where trust in companies is becoming a scarce commodity, our Representatives' relationships with their consumers has never been more relevant or compelling," he adds.

AVP +10.13% premarket to $2.50 vs. a 52-week trading range of $1.85 to $5.41.

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