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Avon 3Q Profit Drops on Weak U.S. Sales

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By: TOM BRANNA

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Avon Products Inc. said its third-quarter profit dropped 7%, due to weak U.S. sales and a decline in profit margins. The company, however, beat Wall Street expectations sending shares up more than 6%. In the United States, third-quarter revenues slipped 6%, hurt by competition and customers purchasing less frequently. The company believes that its U.S. business was affected by higher fuel costs on Avon’s representatives and their customers. The number of products and active representativ...

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