Avon Products Expects To Achieve Low-single Digit Revenue Growth By 2021

(RTTNews) - At its 2018 Investor Day, Avon Products, Inc. (AVP) provided certain financial initiatives and investment targets by 2021, driven by the execution of its new strategy to Open Up Avon and return to growth. It targets $400 million in cost savings by 2021. The company expects to achieve low-single digit revenue growth and low double-digit margins by 2021.

"We believe that our strategy to Open Up Avon will enable the Company to stabilize our financial results and achieve our goals of low-single digit revenue growth and low double-digit margins by 2021, delivering on our commitment to shareholders," said Jan Zijderveld, Avon CEO.

Following the cost savings initiatives, the Company's cash generation should exceed its investment plans. Accordingly, Avon does not anticipate increasing its debt position and will remain focused on reducing debt.