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Sales and earnings fall in Q2, but still beat estimates.
August 1, 2013
By: TOM BRANNA
Editor
Avon Products said that its offer to settle bribery allegations overseas for $12 million was rejected by US authorities. Avon has been hampered by the investigation since 2008, when it contacted the US Justice Department and the Securities and Exchange Commission to notify them of possible inappropriate actions in China. The investigation has since spread to other countries. The company's second-quarter net income slumped 48% and sales fell 2% to $2.5 billion due to tougher currency rates...
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