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Avon Q2 2010 Growth Led by Fragrance
Posted: July 30, 2010
Avon Products, Inc. reported second-quarter 2010 total revenue of $2.7 billion, 8% higher than that of second quarter 2009. Constant dollar sales rose 7% as foreign exchange contributed one percentage point to growth. Beauty sales in the second quarter of 2010 were up 9% versus the prior-year period, and increased 7% on a constant dollar basis. Total units and Beauty units both rose 1%, and price/mix rose 6%.
"Avon delivered another healthy performance in the second quarter, including strong revenue growth fueled by continuing investments in our brand and our channel, in line with our long-term strategic growth plan," said Andrea Jung, chairman and CEO, Avon. "We are also very pleased with the improving operating margin and strong increase in earnings per share. In addition, we ended the quarter with improved operating cash flow resulting from our ongoing efforts in this area."
Avon's beauty sales growth of 9% included gains in all categories: fragrance, color cosmetics, skin care and personal care grew 16%, 12%, 4% and 3%, respectively.
The complete results, including regional performance, is available on Avon's website.