Avon Products Inc. reported a 40% decline in second quarter profits ($91 million) on a 13% decline in revenue ($2.19 billion). Avon blamed increased competition in key markets such as Latin America and the US. “As anticipated, our second-quarter results were tough. While Avon’s turnaround remains challenging, we are putting the people and processes in place to lay the foundation for returning Avon to sustainable, profitable growth,” said Sheri McCoy, chief executive officer of Avon Products, ...