You might want to run out and buy your Avon makeup soon…and that’s because there is a chance that they are selling their North American business. Really.
The Wall Street Journal recently reported this news and sales surged by more than 15% in early afternoon trading.
Avon’s stock has fallen 45% over the last 12 months. North American revenue fell 12% in the fourth quarter of 2014 as compared to the same quarter last year. It fell 17% for the entire year compared to 2013.
The Journal reports that the company recently cancelled its analyst meeting that is scheduled for next month since executives would have to discuss their plans with investors while still formulating a plan.