Avon Products misses by $0.18, misses on revs :
- Reports Q3 (Sep) loss of $0.11 per share, excluding non-recurring items,$0.18 worse than the Capital IQ Consensus of $0.07; revenues fell 22.0% year/year to $1.67 bln vs the $1.68 bln Capital IQ Consensus.
- Gross margin was 60.8%, down 110 basis points. Adjusted gross margin was 61.2%, down 80 basis points.
- Outlook: Relatively unchanged constant-dollar revenue (which includes the negative impact of the Liz Earle divestiture); An approximate 19 point negative impact on reported revenue due to foreign currency translation.
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