AVP - Avon: Trust In The Rally?
Avon (AVP) has caught investors' attention this year. A 125% rally from the December lows is pretty eye-catching, then there is Bill Miller's talk of a "ten bagger." Avon's cultural overhaul and turnaround story seems to be picking up pace. This all sounds extremely bullish, but recent earnings showed another fall in revenues and reminded us there is a mountain still to climb. In this article I will take a macro look at the company, the problems it faces, and how it plans to transform.
The Company
Avon is a household name in