But Friday's pre-fright-night numbers seem to have sent the stock tumbling about 9%. What was the big scare? Sales. Some headlines called the 11% gain (10% without forex gains) a disappointment just because the total of $1.78 billion was $20 million short of the average estimate.
Meanwhile, earnings came in ahead of estimates, at $0.37 per share. That's a 32% improvement over the prior-year quarter. Better profit off slimmish sales? Sounds to me like something to celebrate. Margins were up, resulting in an operating profit increase of 1.5% to 25%.
International divisions are putting up huge gains right now, with 60% increases in operating profit from Europe and Asia. Granted, these are also juiced by the sliding dollar, but the real-dollar sales increases of 24% and 12%, respectively, plus 13% in Latin America, show that Avon's got the goods to go global.
Interested investors may see opportunity in the current situation. While the herds of lemmings chase the market's nosebleed climbers such as Google
For related Foolishness:
- Why has Avon been climbing? Could be its higher calling.
- Is Helen of Troy
(NASDAQ:HELE)really all that?
- Want something really cheap? Check your chicken.
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