Avon 2012 Annual Report Download - page 3
Download and view the complete annual report
Please find page 3 of the 2012 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
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
 |
 |
to our
SHAREHOLDERS
Since I joined Avon as Chief Executive Of cer,
my clear focus has been on turning this great
company around. Nearly one year into my role
leading Avon, I am even more con dent that we
will achieve our vision:
Return Avon to its rightful place as an iconic
Beauty Brand with products that consumers love
and demand, while at the same time reinforcing
our global leadership in Direct Selling, and
ful lling our mission to Empower Women.
There is a lot of work ahead of us to achieve this
vision. But with the support and engagement
of our 39,000 Associates and more than six million
active Representatives who love and believe in
this company, I know we can succeed.
2012 was a challenging year for Avon. While I’m pleased that
we began to see early signs of stabilization in the fourth quarter,
our overall full-year results were disappointing. Compared to the
prior year, 2012 total revenue of $10.7 billion decreased 5%, or
was fl at in constant dollars, total Beauty sales declined 5%, or
increased 1% on a constant-dollar basis, active Representatives
declined 1%, and units sold were unchanged.
We are working with a sense of urgency to tackle near-term
issues quickly and address longer-term challenges. We have
made important progress starting in the second half of 2012. We
signifi cantly strengthened the senior leadership team. This included
recruiting strong external talent to lead global marketing, legal,
human resources, supply chain, and communications, as well as
setting clear expectations of accountability and discipline for all
Avon leaders. We have prioritized our geographic portfolio and
begun to implement stabilization plans for key markets. We also