Bill Wexler's Profits of DOOM Message Board

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Strategies & Market Trends : Bill Wexler's Profits of DOOM

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To: Bill Wexler who wrote (1133)	6/22/1998 11:44:00 PM
From: Bill Wexler	Read Replies (1) of 4634

Avon calling - NOT! I direct the readers attention to AVP's last 10-Q and 10-K: Highlights: Shareholder's equity is only $191 million, down significantly from last year, which isn't surprising - since top line growth has been relatively flat and debt has been increasing. This company has only $85 million in cash left (down significantly from last year), yet it continues to announce stock buybacks (albeit relatively small ones). Avon sports some hefty-looking ROE - until you dig a little bit into the income statements. There's hardly any "E" there - considering that the market cap is above $10 billion!!!! I don't see how the company is going to earn itself out of this hole over the next year or two...or five. Those Avon salespeople are going to have to knock on A LOT of doors in Brazil (China is now pout of the question - considering that the government has banned Avon from direct marketing its products).

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