Avon Declines After Sales, Profit Trail Estimates
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Avon Products Inc., the world’s largest door-to-door cosmetics merchant, fell the most in more than three months, after fourth-quarter sales and profit missed analysts’ projections.
Avon declined 88 cents, or 3 percent, to $28.47 at 4 p.m. in New York Stock Exchange composite trading, the largest drop since Nov. 1. Excluding some items, Avon’s profit fell to 59 cents a share, Avon said today in a statement. That compared with the 66-cent average of estimates compiled by Bloomberg. Sales rose 1.3 percent to $3.18 billion, also trailing predictions.