Avon Q2 2010 revenue climbs 8%
Direct sales giant reaps benefit of ‘long-term strategic growth plan’
Direct sales retailer Avon Products Inc has reported second quarter revenue of $2.7bn, an 8% increase on the same period of 2009. Excluding foreign exchange rates, constant dollar sales grew 7%.
The company’s beauty sales, meanwhile, increased 9% versus the prior year period (7% on a constant dollar basis) with gains across all categories. Fragrance was Avon’s biggest success story, increasing 16%, while colour cosmetics grew 12%. Skin care and personal care were up 4% and 3% respectively.
In addition, the number of active representatives grew by 5%.
Chairman and ceo Andrea Jung commented: “Avon delivered another healthy performance in the second quarter, including strong revenue growth fuelled by continuing investments in our brand and our channel, in line with our long-term strategic growth plan.”