NEW YORK (AP) — Avon Products Inc. said Thursday the Securities and Exchange Commission is investigating its contact with financial analysts in 2010 and 2011, the latest roadblock for the cosmetics direct seller that is struggling to turn around its results.
Avon also reported its third-quarter net income slipped a worse-than-expected 1 percent, hurt by complications implementing a business system in Brazil and the uncertain global economy. The New York company said it is reviewing all aspects of its business and withdrew its full year revenue guidance.
Shares — which were already down 21 percent since the beginning of the year — dropped another 18 percent by Thursday …
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