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Avon Soars After Discussing Overseas Growth, Vowing to Cut Costs

Avon Products Inc. jumped as much as 15 percent after saying that overseas sales were up in 2015, excluding currency effects, and vowing to cut costs by $350 million over the next three years.

Excluding North America, revenue was about $6 billion last year, the New York-based cosmetics giant said on Thursday at its investor day. Holding currency constant, that represents 2 percent growth. Otherwise, the sales were down 19 percent, a reflection of the toll that the strong dollar has taken on offshore revenue.