Avon bribery probe deal could hit $132 million; sales continue slide

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Avon bribery probe deal could hit $132 million; sales continue slide

<p><a href="http://news.yahoo.com/avon-fourth-quarter-sales-fall-more-sales-reps-123845272--sector.html"><img src="http://l2.yimg.com/bt/api/res/1.2/lmv34OPPzgKSx4lzq_Bhjg--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9NzU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2014-02-13T164341Z_2_CBREA1C0Y5W00_RTROPTP_2_AVON.JPG" width="130" height="86" alt="The Avon Products headquarters is seen in midtown Manhattan area of New York" align="left" title="The Avon Products headquarters is seen in midtown Manhattan area of New York" border="0" /></a>Avon Products Inc said on Thursday it could end up paying as much as $132 million to settle a U.S. bribery probe into its efforts to develop new markets, the first time the beauty-products company has given an estimate for a penalty. While Chief Executive Officer Sheri McCoy said Avon has made &quot;significant&quot; progress in talks with the U.S. Securities and Exchange Commission and Department of Justice and has enough money to pay for any settlement, the company warned there were no assurances it would reach a deal. The world's largest direct seller of beauty products also reported another quarter of disappointing results, with lower-than-expected revenue caused by a sales decline in the emerging markets it Avon has bet on to make up for dwindling U.S. sales.</p><br clear="all"/>

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