0000008868-14-000067.txt : 20141118 0000008868-14-000067.hdr.sgml : 20141118 20141118170848 ACCESSION NUMBER: 0000008868-14-000067 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20141113 ITEM INFORMATION: Cost Associated with Exit or Disposal Activities FILED AS OF DATE: 20141118 DATE AS OF CHANGE: 20141118 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AVON PRODUCTS INC CENTRAL INDEX KEY: 0000008868 STANDARD INDUSTRIAL CLASSIFICATION: PERFUMES, COSMETICS & OTHER TOILET PREPARATIONS [2844] IRS NUMBER: 130544597 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-04881 FILM NUMBER: 141232661 BUSINESS ADDRESS: STREET 1: 777 THIRD AVENUE CITY: NEW YORK STATE: NY ZIP: 10017 BUSINESS PHONE: 212-282-5000 MAIL ADDRESS: STREET 1: 777 THIRD AVENUE CITY: NEW YORK STATE: NY ZIP: 10017 8-K 1 november20148k.htm 8-K November 2014 8K


 
 
 
 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 8-K
 
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 13, 2014

 
 
 
 
 
 Avon Products, Inc.
(Exact name of registrant as specified in charter)
 
 
 
 
 
 
 
 
 
 
New York
 
1-4881
 
13-0544597
(State or other jurisdiction
of incorporation)
 
(Commission
File Number)
 
(IRS Employer
Identification No.)
777 Third Avenue
New York, N.Y. 10017-1307
(Address of principal executive offices) (Zip Code)
(212) 282-5000
(Registrant’s telephone number, including area code) 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 
 
 
 
 







INFORMATION TO BE INCLUDED IN THE REPORT

Item 2.05. Costs Associated with Exit or Disposal Activities.
On November 13, 2014, Avon Products, Inc. (the “Company”) approved additional actions relating to its previously disclosed $400 million cost savings initiative. These actions primarily consist of initiatives relating to improving supply chain efficiencies, including contract terminations, as well as global headcount reductions. These actions are expected to be substantially completed by June 30, 2015.
The Company expects to record total charges related to these actions of approximately $45 million before taxes. Approximately $30 to $35 million of these charges are expected to be recorded in the fourth quarter of 2014, with substantially all of the remaining expected charges to be recorded by June 30, 2015.

These charges are expected to be comprised primarily of employee-related costs and contract termination costs. Substantially all of the charges will result in future cash expenditures.




(Page 2 of 3 Pages)









































SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
AVON PRODUCTS, INC.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
          (Registrant)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
By
/s/ Robert Loughran
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Name: Robert Loughran
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Title: Acting Chief Financial Officer, Vice President and Corporate Controller

Date: November 18, 2014
 
(Page 3 of 3 Pages)