Avon Products Inc. posted a slightly bigger-than-expected decline in revenue for its third quarter, hurt by weak foreign exchange rates and lower sales volumes.
Beauty sales declined 9%, but increased 1% in constant dollars, while fashion and home sales declined 11%, or 4% in constant dollars. The volume of products sold dropped 4% along with a similar decline in the active representatives world-wide.
Avon shares were off more than 7% to $10.14 in midday trading and have declined sharply in recent years. The stock traded above $40 a share in 2008.