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Money Media

Avon poised to sell?

April 14th, 2015 by ,    photos by

The company is taking a new strategic direction - which may involve knocking on just one door...

 
 
 

Avon is about to do what it does best - turn a pretty penny on its $4.1 billion business.

According to The Globe and Mail, reports are swirling that the company is in talks to head in a new strategic direction - and it could mean selling off its North American business.

The Wall Street Journal was first to break the story earlier this week - and Avon has so far declined to comment. 

Market makeover 

However, that hasn't stopped investors from pouncing on the stock, sending its share price up 18.1 percent in a day.

That's after the company saw its stock lose nearly half its value - 44 percent - over the past 12 months.

But that's hardly surprising considering its North American arm, which accounts for 14 percent of Avon's annual sales, has posted a loss for the last three consecutive years. Experts estimate it could take upwards of $1 billion in reinvestment funding to revive the business.

Perhaps there are just some things cosmetics can't fix.

Want to read more?

The Globe and Mail: Avon exploring sale of North America business: report

 

 

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