BRAZIL AND RUSSIA HURT AVON’S SALES

AVON Products the world’s largest direct seller of cosmetics, posted a steeper-than-expected drop in quarterly profit yesterday, hurt by poor performance in Brazil and Russia. Avon, led by Andrea Jung (above), earned $229.5m (£142.6m), or 53 cents per share, in the quarter, down from $269.4m, or 62 cents per share, a year earlier.