Retailers, consumers and prices
Check Out Line: Ding, dong, Avon falling!
Check out Avon’s declining sales.
The world’s largest direct seller of cosmetics just spent however much money you have to spend to get an ad on NBC right before the Super Bowl, trying to recruit people to sell for Avon.
The pitch was that in these tough economic times, being an Avon rep was a good idea. It’s a good way to earn extra money, and, since it was essentially your own business you couldn’t be fired, the commercial said.
One question: who are all these new Avon Ladies going to be selling to?
The global economy is in tatters. Avon posted fourth-quarter profit below analysts expectations and sees more difficulty in 2009.
Sales fell 9 percent, though that was due to the stronger dollar. But even a 2 percent sales increase in local currencies was somewhat anemic.
So, who is Avon calling on?
Also in the basket:
Walgreen January sales up 0.4 percent
Liz Claiborne to cut 725 U.S. jobs
A CEO gets a rare second act (WSJ)