Avon’s poor outcomes proceed to pull down the profitability of the Brazilian cosmetics big. Certainly, the group’s Q1-2024 losses widened attributable to falling gross sales on the Avon enterprise.

Natura &Co’s consolidated internet income reached BRL 6.1 billion in Q1-24, up 1.1% vs Q1-23 in fixed foreign money (CC) and down 5.7% year-on-year (YoY) in Brazilian Reais (BRL). Q1-24 reported internet loss widened to BRL 935 million, in comparison with a internet lack of BRL 652 million in Q1-23.

Robust ends in Natura Brazil have been offset by Avon Latam, which remains to be delivering tender top-line, with revenues down 11.3% in Brazil and 11.8% in Hispanic Latam. Moreover, Avon Worldwide had a gradual begin in Q1 by way of income, down by 4.7% YoY in CC.

“In Brazil, Avon nonetheless skilled headwinds impacting the top-line, however with an enhancing development month over month, and we anticipate Avon’s top-line to stabilize within the second half of the 12 months. We additionally noticed vital margin growth in Peru and Colombia,” mentioned Fabio Barbosa, Group CEO of Natura &Co. “Avon Worldwide had a gradual begin of the 12 months, following a stable This fall 2023 profitability efficiency. The brand new administration staff took workplace in January and is engaged on simplifying the market, specializing in key international locations, and enhancing our portfolio with superior promotional execution. We consider these steps are essential to stabilize revenues and hold us on monitor to enhance profitability,” he added.