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Avon Announces Q1 2010
Posted: April 30, 2010
Avon Products, Inc. reported first-quarter 2010 total revenue of $2.5 billion, 14% higher than that of first quarter 2009, and up 8% on a constant-dollar basis as foreign exchange contributed 6 percentage points to growth. Beauty sales in the first quarter of 2010 were up 14% versus the prior-year period, and increased 7% on a constant-dollar basis. Active Representatives grew 6%, with growth in all regions except China. Units and price/mix each rose 4%, representing another quarter of healthy balance. Beauty units increased 3%.
"We are pleased with the continued top-line momentum across most of our regions in the quarter, supported by our continuing investments in advertising and Representative Value Proposition," said Andrea Jung, chairman and CEO, Avon. "This is the second quarter in a row where Latin America and our two European segments, which comprise approximately 70% of our sales, grew constant-dollar sales at a rate of 15%."
Avon's 14% beauty sales growth included gains in all categories: fragrance, color cosmetics, personal care and skin care grew 21%, 23%, 11% and 1%, respectively. Constant-dollar growth of 7% in beauty was driven by gains of 14% in fragrances, 14% in color cosmetics and 4% in personal care. Skin care was down 5% in constant dollars primarily due to declines in China, which is predominantly a skin care market.
View Avon's first quarter 2010 full financial report here.