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Reuters
Published
May 5, 2009
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Avon Products posts lower quarterly profit

By
Reuters
Published
May 5, 2009


Avon Products Inc (Photo: www.avon.com)


CHICAGO, May 5 (Reuters) - Avon Products Inc (AVP.N) posted a lower quarterly profit on Tuesday 5 May as a stronger U.S. dollar hurt the world's largest direct seller of cosmetics.

Net income in the first quarter fell to $117.3 million, or 27 cents a share, compared with $184.7 million, or 43 cents a share, in the year earlier quarter.

Sales fell 13 percent to $2.16 billion.

In early February, Avon posted a weaker-than-expected fourth-quarter profit and cautioned 2009 would be a tough year as consumers cut spending and seek deals when they do buy. (Reporting by Ben Klayman; Editing by Derek Caney)

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