Avon Products Reports Huge Revenue Drop In 1Q 2016

Avon Products, Inc. reported total revenue dropped 16 percent to $1.3 billion in the first quarter of 2016, compared with the same quarter of the previous year. In constant dollars, however, revenue grew 3 percent, excluding the impact of the sale of Liz Earle. Adjusted diluted earnings per share from continuing operations declined $0.10 per share from the previous year, and included a negative currency impact of $0.13 per share.