Revlon Inc., the maker of cosmetics under its namesake and Almay brands, will cease operations in China and eliminate about 1,100 positions, including 940 beauty advisers, as it restructures its struggling business.
Avon Products Inc. rose the most in almost four decades after fourth-quarter adjusted profit topped analysts’ estimates and the company said it would evaluate alternatives for the Silpada jewelry unit.
Billionaire Carl Icahn’s investment in Clorox Co. gives him a stake in a company that is already squeezing more profit from sales and generating more cash than any U.S. household products maker. That may make it harder for the activist to push for a sale or breakup.
Avon Products Inc.’s naming of Johnson & Johnson’s Sherilyn McCoy as chief executive officer may delay the company’s turnaround efforts and decrease the chances of a takeover by Coty Inc., analysts said.
In his last year as president, Hugo Chavez ordered Coca-Cola Femsa SAB and other beverage makers to cut prices, seized a local steel company’s assets and tightened currency controls that may cost Procter & Gamble Co. $275 million. Doing business in Venezuela isn’t likely to get easier under his successor.
Avon Products Inc. directors debated for three weeks whether to fire Andrea Jung before deciding to remove her as chief executive officer and retain her as chairman, according to two people familiar with the matter.