Avon 2009 Annual Report Download - page 20
Download and view the complete annual report
Please find page 20 of the 2009 Avon annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10 -
11 -
12 -
13 -
14 -
15 -
16 -
17 -
18 -
19 -
20 -
21 -
22 -
23 -
24 -
25 -
26 -
27 -
28 -
29 -
30 -
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
 |
 |
through investments in the direct-selling channel, and to
compete with other direct-selling organizations to recruit,
retain and service Representatives;
•the impact of the seasonal nature of our business, adverse
effect of rising energy, commodity and raw material prices,
changes in market trends, purchasing habits of our consumers
and changes in consumer preferences, particularly given the
global nature of our business and the conduct of our business
in primarily one channel;
•our ability to protect our intellectual property rights;
•the risk of an adverse outcome in our material pending and
future litigations;
•our ratings and our access to financing and ability to secure
financing at attractive rates; and
•the impact of possible pension funding obligations, increased
pension expense and any changes in pension regulations or
interpretations thereof on our cash flow and results of operations.
We undertake no obligation to update any such forward-looking
statements.