AVON PRODUCTS DISAPPOINTS

AVON Products, the world’s largest direct seller of beauty products, led by chief executive Andrea Jung (above), yesterday reported lower-than-expected third-quarter profit, as sales fell in North America. Quarterly earnings rose seven per cent to $166.7m (£104.1m), or 38 cents a share, from $156.2m, or 36 cents a share, in the year-earlier period.