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Avon Q2 Misses Estimates As Profits Fall Short


Avon (AVP) shares traded higher in Thursday's session, despite posting disappointing second quarter results. Investors appear to be focusing on the headcount cuts the beauty products company is making. Profits for the quarter came in at 20 cents a share, a penny below forecasts. Revenue for the beauty products company fell 13% to $2.19 billion. Beauty product sales slid 13%, fashion & home sales declined 15%. Avon also said it will reduce 600 positions in its corporate office and North America business. TheStreet's Kathryn Mykleseth reports in New York.