THE RESULTS: Cosmetics seller Avon Products Inc. said Wednesday net income rose 7 percent and revenue rose 4 percent to $2.66 billion. But sales were weak in North America and below expectations in Brazil, and results missed analyst predictions.
THE CONTEXT: Avon said it had several product launches in Brazil that did not live up to expectations. In response to the recession, Avon has stepped up recruitment for active sellers and expanded through acquisitions.
THE OUTLOOK: The company continues to expect revenue will grow in the mid-single digit percentage range for the full year.