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Avon Loss Narrows

The cosmetics maker reported a smaller quarterly loss and higher sales, buoyed by growing demand for its anti-aging creams and fragrances.
Group famous for house-to-house visits is to open franchises as it also expands deal with Superdrug.
Group famous for house-to-house visits is to open franchises as it also expands deal with Superdrug. (Avon)
By
  • Reuters

LONDON, United Kingdom — Cosmetics maker Avon Products reported a smaller quarterly loss and higher sales on Thursday, buoyed by growing demand for its anti-aging creams and fragrances.

Net loss attributable to the company narrowed to $20.3 million (£15 million), or 6 cents per share, in the first quarter ended March 31, from a loss of $36.5 million, or 10 cents per share, a year earlier.

Net sales rose 1 percent to $1.31 billion, missing analysts' average estimate of $1.35 billion, according to Thomson Reuters I/B/E/S.

By Jaslein Mahil; editor: Amrutha Gayathri.

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