$AVP (Avon Products Inc.)

$AVP {{ '2016-03-01T19:56:36+0000' | timeago}} • Announcement

Beauty products company $AVP said that it has completed the separation of its North America business into a privately-held company and closed its strategic partnership transaction with Cerberus Capital Management, L.P. The business was majority-owned and managed by an affiliate of Cerberus. The business will now operate under the name New Avon LLC.

$AVP {{ '2017-06-21T15:49:35+0000' | timeago}} • Announcement

$AVP said Fernando Acosta, EVP and Chief Marketing and Social Selling Officer, has decided not to relocate to the UK and will therefore be leaving the company, Nov. 1, 2017. James Scully, current EVP and COO, will be leaving the company Oct. 1 2017, following his previously announced decision not to relocate to London.

$AVP {{ '2017-06-21T15:48:06+0000' | timeago}} • Announcement

$AVP appointed Jonathan Myers as EVP and COO, effective Sept. 1, 2017. Most recently, Jonathan served as $K's VP, Western European Markets, and Managing Director, UK and Ireland. Last week, $AVP appointed Miguel Fernandez as Global President responsible for Commercial Business Operations.

$AVP {{ '2017-06-21T15:26:42+0000' | timeago}} • Announcement

$AVP appointed Miguel Fernandez as Global President, with responsibility for commercial business operations, effective Aug. 14, 2017. Miguel succeeds John Higson, who will be retiring in September from his role as $AVP's EVP, Chief Commercial Officer, following 32 years with the company.

$AVP {{ '2017-05-19T13:17:13+0000' | timeago}} • Announcement

$AVP appointed James Thompson as SVP, General Counsel and Chief Ethics & Compliance Officer, effective August 1, 2017. James will report directly to Avon's CEO Sheri McCoy, and will be based at Avon's headquarters in London, UK. James previously served as the EVP to Chiquita Brands International, Inc.

$AVP {{ '2017-05-10T13:42:30+0000' | timeago}} • Announcement

$AVP's shareholders voted in line with the BoD's recommendations on all proposals and re-elected all director nominees at 2017 Annual Meeting of Shareholders.

$AVP {{ '2017-05-04T20:05:38+0000' | timeago}} • Announcement

In 1Q17, $AVP's Europe, Middle East & Africa revenue was down 2% but South Latin America revenue soared 17%. North Latin America revenue went down 6%, while Asia Pacific revenue slipped 8%. Net cash used by operating activities of continuing operations was $80MM for the quarter.

$AVP {{ '2017-05-04T20:02:59+0000' | timeago}} • Announcement

For FY17, $AVP expects constant-dollar revenue growth in the low single-digits, adjusted operating margin expansion of 100-140 bps over the prior year and free cash flow to be slightly positive including the expected $65MM in increased capital expenditures.

$AVP {{ '2017-05-04T20:00:35+0000' | timeago}} • Webcast

$AVP's revenue inched 2% up to $1.3Bil in 1Q17, as the cosmetics brand saw its net attributable loss drop by 78% to $36.5MM from a loss of $165.9MM a year ago. Diluted loss per share was $0.10, from last year's $0.38 a share loss.

$AVP {{ '2017-02-16T12:21:58+0000' | timeago}} • Announcement

During 4Q16, $AVP's revenue in Europe, Middle Easy & Africa dropped 3% in constant dollars, mainly hurt due to decline in Active Representatives and average order. South Latin America revenues was up 6% in constant dollars, helped by higher average order.

$AVP {{ '2017-02-16T12:09:12+0000' | timeago}} • Announcement

Cosmetics direct seller $AVP posted narrower 4Q16 net loss of $10.7MM, or $0.04 per share, compared to $333.4MM, or $0.76 per share in 4Q15. Impact of the devaluation in Egypt on working capital balances had a negative $0.04 impact on EPS. Revenue declined 2% YoY to $1.6Bil. Excluding items, $AVP earned $0.01 per share.

$AVP {{ '2016-12-01T12:22:49+0000' | timeago}} • Announcement

$AVP appointed Jamie Wilson as its CFO effective Jan. 1, 2017. James Scully, the current CFO and COO will continue as COO through 2017. The company added that its corporate headquarters in UK will be fully operational by Jan. 2017.

$AVP {{ '2016-09-09T10:42:28+0000' | timeago}} • Announcement

Cosmetics direct seller $AVP said it has elected Jose Armario, retired as EVP, Worldwide Supply Chain, Development and Franchising at $MCD, to its BoD, effective Sept. 6. Armario will serve on the Compensation and Management Development Committee. The addition of Armario increases the size of $AVP's Board from 10 to 11 members.

$AVP {{ '2016-08-02T10:13:25+0000' | timeago}} • Announcement

Personal care direct selling company $AVP said its subsidiary Avon International Operations will offer $400,000,000 of its senior notes due 2022. Company intends to use proceeds from this offering, along with cash on hand, to complete tender offers for some series of its existing senior notes, which it is launching concurrently with the offering.

$AVP {{ '2016-08-01T21:24:43+0000' | timeago}} • Announcement

$AVP said that it has commenced cash tender offers to purchase up to a total of $650MM aggregate principal amount of its outstanding notes that are due in 2018, 2019 and 2020.

$EL {{ '2016-05-03T15:00:10+0000' | timeago}} • Webcast

$EL, which competes with $AVP and $REV, said that Hair Care sales rose 3% in constant currency during 3Q16. Aveda brand opened new doors in travel retail and added salons and freestanding stores in Europe. Bumble and bumble experienced solid growth in all channels. Skin Care sales were flat in constant currency.

$AVP {{ '2016-03-28T15:07:19+0000' | timeago}} • Announcement

Cosmetics company $AVP said it has reached an agreement with Barington Capital Group under which Barington was granted the right to approve the appointment of an independent director to $AVP's BoD. Barington has agreed to withdraw its nominations for election to $AVP's BoD at the company's 2016 Annual Meeting and to vote for $AVP's nominees.

$AVP {{ '2016-03-28T11:29:03+0000' | timeago}} • Announcement

Cosmetics maker $AVP said that Cathy Ross has been elected to its BoD effective March 24, 2016. Ms. Ross served as CFO till 2014 in FedEx Express, $FDX's subsidiary.

$AVP {{ '2016-03-14T22:13:16+0000' | timeago}} • Announcement

"Today, we are taking another important step forward in the execution of Avon's transformation plan. With the recent completion of the sale of the North American business, our commercial operations are now fully outside of the United States, allowing us to dramatically rethink our operating model," said $AVP CEO Sheri McCoy.

$AVP {{ '2016-03-14T22:12:39+0000' | timeago}} • Announcement

$AVP said that it will reduce the company's headcount by approx. 2,500 positions as part of its three-year transformation plan. The company expects to realize pre-tax savings of approx. $30MM in 2016 associated with an approximate 1,700 headcount reduction, and expects to achieve annualized pre-tax savings of approx. $65-75MM beginning in 2017.

$AVP {{ '2016-03-01T20:00:43+0000' | timeago}} • Announcement

Cerberus Capital Management, a private investment firm, has invested $170MM for an approx. 80% ownership interest in $AVP's North America business, which is now separated into a privately-held entity. $AVP maintains an approximate 20% interest in New Avon LLC.

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