Note: Call rescheduled for 11/1 8:30 EST
This is a huge week for Avon Products (AVP) investors. While any earnings report is obviously important, this one, on 10/30 with a call at 9 A.M., should set the stage for 2013.
For those not familiar with the story, it's one of a strong brand that has been performing poorly. We see this in the operating results (sales down 3% over the past year, EPS down 42%, tangible book value per share down 18%).
What we have is a stock that has declined from about $40 to about $15 over the past five years, underperforming the S&P 500 in price by about 59% (a little less incorporating dividends). In the past 2 years, it has lagged by 66%. The stock has found some support near its 2009 lows.
There has been a lot of news over the past year. The biggest was 12/13/11, when the company announced that long-time Chairman and CEO Andrea Jung would be ceding her role as CEO pending an outside hire of a successor. Here are some of the highlights from 2012:
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