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Avon Faces a Rough Q1 2012
Posted: May 1, 2012
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For the Western Europe, Middle East and Africa, total revenue dropped 5% like-for-like to $330 million in the quarter, which is up 1% in constant dollars. First-quarter constant-dollar revenue growth reflects higher average order, which was partially offset by a decline in active representatives. U.K. and continental Europe figures were down, also partially reflecting a continued weak macroeconomic environment.
And for the Asia Pacific regions, total revenue was down 2% to $221.7 million, a decrease of 4% in constant dollars. First-quarter constant-dollar revenue decreased due to a decline in active representatives primarily in China, partially offset by higher average order, while the Philippines grew 7%, or 5% in constant dollars, due to growth in active representatives. Offsetting the growth in the Philippines were double-digit declines in China, as the company’s transition to a direct-selling business is facing greater-than-expected challenges