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CEO McCoy: Avon Q3 “Disappointing,” But Focus Is On Future

Executive Summary

After posting third-quarter profits of $31.6 million, down 81%, Avon announces a cost savings plan aimed at saving the firm $400 million over three years. CEO Sheri McCoy was upbeat about Avon’s prospects, but acknowledged that financial troubles would not be resolved by “a magic bullet or quick fix.”

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