On July 19, 2005, before the start of trading, Avon issued a press release announcing that its earnings for the second quarter of 2005 would be below expectations because of two factors: (i) "an unexpected temporary decline in China as Beauty Boutique owners reacted with concern to the imminent resumption of direct selling in that country;" and (ii) "lower-than- anticipated revenue growth in Central and Eastern Europe resulting from underperformance of several key marketing offers as well as delayed expansion
into new geographies within Russia.
When asked which cost-cutting strategy has been the most effective so far, CFOs cite layoffs the most (38%), followed by inventory reduction (30%), delayed expansion
(23%), lease re-negotiation (7%) and store closings (2%).
Optimized for delayed expansion
, it features a lead-free beveled profiled Protected Hollow Point bullet, nickelplated case and low-flash powder.
BANKING giant HSBC has delayed expansion
plans due to fears of a second downturn in the economy.
said it has delayed expansion
of a gasoline refinery in Detroit "due to current market conditions.