Avon CEO to Step Down
Sheri McCoy will step down as Chief Executive Officer and as a director.
Avon CEO Expected to Step Down
In May an investor group led by Barington Capital Group, L.P. announced it was calling on the Board of Directors of Avon to immediately begin a search for a new CEO.
Barington Calls for Avon CEO to Be Replaced
Barington pointed to the fact that during Sheri McCoy’s five-year tenure as CEO, Avon’s stock price has fallen by more than 80 percent– from $22.69 on April 9, 2012 to under $3.65 on May 4.
Avon Cuts Q1 Losses, Revenues Plummet
Avon CEO Sheri McCoy is exploring moving TV ad dollars from to social media going forward., explaining, “When women try our products we get great reviews.”
Avon Beauty Sales Fall In Q4
During the quarter, Avon saw beauty sales fall in each of its three largest categories.
Avon Taps J. Crew Exec as New CFO
Avon Products, Inc. has named James S. Scully as Executive Vice President and Chief Financial Officer, reporting to Sheri McCoy, Chief Executive Officer.
Avon Settles China Bribery Suit for $135 Million
Avon Products, Inc. has settled its case that charged its China unit with bribery, specifically disguising gifts and cash to Chinese government officials as business expenses in exchange for business benefits between 2004 and 2008.
Sheri McCoy: Avon Turnaround Taking Longer Than Expected
North America continues to be a trouble spot with revenue in the quarter shrinking 16% to $276.7 million, as active representatives declined 18%.
Avon Posts Tough Q2 Results
Beauty sales declined 13%, or 3% in constant dollars. North America constant-dollar beauty sales declined 20%. On the bright side, Avon.com is re-launching in September.
Sheri McCoy on Avon Q1: I Am Not Satisfied
One analyst queried whether more dramatic action was needed, such as introducing a collection for retailers, such as Walmart or Walgreens.
Avon Reps Key to Restoring N.A. Biz
Price increases, more product sampling and a reduction in the page count of its costly brochure, are among Avon’s tactics to restore sales and profitability in the U.S. market.
Avon North America Beauty Sales Plummet 25% in Q4
A 5% loss in representatives coupled with operational issues in core markets resulted in double-digit sales declines for Avon in the fourth quarter ended Dec. 31.
