Avon Reports 4Q Loss

NEW YORK, United States — Avon Products Inc. on Thursday reported a loss of $333.4 million in its fourth quarter.

On a per-share basis, the New York-based company said it had a loss of 77 cents. Earnings, adjusted for one-time gains and costs, were less than 1 cent on a per-share basis.

The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 8 cents per share.

The direct seller of cosmetics posted revenue of $1.61 billion in the period, which also missed Street forecasts. Three analysts surveyed by Zacks expected $1.83 billion.

For the year, the company reported that its loss widened to $1.15 billion, or $2.60 per share. Revenue was reported as $6.16 billion.

The company's shares closed at $3.25. A year ago, they were trading at $8.66.