Shares Gain As Hopes Rise For A Rate Cut The Dow Jones industrial average closed up 57.88 points, or 0.44 percent, as investors were more optimistic about the chances of cuts in interest rates.... Read Full Article How Zurich Financial Services Lured Tony Blair IT started in the “green room” at the World Economic Forum in Davos.... Read Full Article Class Is In Session: Stretching, Sliding, Bonding: A Multitasking Mix Another in a series of group fitness class reviews.... Read Full Article G.E. Chairman Rejects Talk Of NBC Sale Looking to squelch persistent rumors, G.E.’s chairman, Jeffrey R. Immelt, plans to make his most definitive statement yet about his company’s chief media asset.... Read Full Article How The US Keeps A Grip On Global Advertising Sir Martin Sorrell is fond of the saying that when the US sneezes, the rest of the world catches a cold. In the world of advertising this truism continues to resonate - one significant event hap... Read Full Article |
Strong Sales In Russia And China Help AvonAvon Products reported quarterly profit yesterday that topped Wall Street expectations, helped by strong sales in China and Russia. Earnings rose to $150 million, or 34 cents a share, in the first quarter, from $56.2 million, or 12 cents a share, a year earlier. Analysts, on average, had forecast 28 cents a share, according to Reuters estimates. Quarterly revenue rose 9 percent, to $2.16 billion. Analysts average forecast was $2.14 billion. Sales in China grew 44 percent while sales in Central and Eastern Europe increased 17 percent, helped by strength in perfumes and color cosmetics. Sales in Russia jumped 30 percent. With improvements in Venezuela, Colombia and the Philippines, the company said it was able to overcome weak sales in Japan and Mexico. Avon shares rose $1.12, to $40.92, on the New York Stock Exchange, after rising as high as $41.85 earlier in the session. Avon, based in New York, is in the middle of a multiyear revamping that includes cutting jobs, focusing on fewer products and weeding out less profitable goods. It has also increased advertising spending as part of that plan. In the first quarter, the company spent $71 million — 80 percent more than in the same quarter last year — on new ads and to introduce products like Anew Alternative Intensive Eye Cream and the Ultra Color Rich Lipstick. Tag CloudExternal InformationAdditional InformationWorkers at 4 Plants Back Chrysler Pact...Beware taking giant hammer to the touting nut... KKR Financial Delays Debt Repayment Again... World war flu... Where Am I?News Main Page - Business - Strong Sales In Russia And China Help Avon |
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