Avon Products Inc posted a steeper-than-expected drop in quarterly profit, weighed down by weak sales and restructuring charges.
The world's largest direct seller of cosmetics earned $229.5 million, or 53 cents per share, compared with a profit of $269.4 million, or 62 per share, a year earlier.
Avon said on February 1 that it would record restructuring charges of about $58 million, or 9 cents per share, in the fourth quarter.
Adjusted earnings from continuing operations fell to $259 million, or 59 cents per share, from $293 million, or 68 cents per share, a year earlier. Analysts had expected a profit of 67 cents per share, according to Thomson Reuters I/B/E/S.
Revenue rose 1.3 percent to $3.18 billion, missing analysts' average target of $3.28 billion.
(Reporting by Jessica Wohl, editing by Maureen Bavdek)