Avon First Quarter Sales Up 19% First quarter sales for Avon Products Inc. grew 19% to $1.75 billion, versus $1.47 billion in the 2003 period.
Twenty-three percent growth in sales of beauty products helped drive the increase, according to the New York-based cosmetics firm.
Net income in the quarter ended March 31 was $148.1 million, compared with $98.9 million in last year’s first quarter. The prior year’s results included pretax expenses of approximately $18 million, or $.05 per share after tax, to reposition the company’s beComing brand from retail to direct selling distribution.
The United States, Avon’s largest market, showed 7% sales growth in the quarter, with beauty sales showing 8% growth. First quarter sales in Europe were up 38%. Sales in Latin America rose 25% in U.S. dollars, while Asia Pacific sales were up 15%.
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