8-K

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) February 3, 2004

AVON PRODUCTS, INC.

(Exact Name of Registrant as Specified in Its Charter)

New York

(State or Other Jurisdiction of Incorporation)

1-4881	13-0544597
(Commission File Number)	(IRS Employer Identification No.)
1345 Avenue of the Americas
New York, New York	10105-0196
(Address of Principal Executive Offices)	(Zip Code)

(212) 282-5000

(Registrant's Telephone Number, Including Area Code)

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Item 12. Disclosure of Results of Operations and Financial Condition

On February 3, 2004, Avon issued a press release to supplement Avon’s earlier announcement of its results of operations for the fourth quarter and full year 2003. A copy of that press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

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.
Dated: February 3, 2004	By: /s/ Gilbert L. Klemann, II
	Name:	Gilbert L. Klemann, II
	Title:	Senior Vice President, General Counsel and Secretary

EXHIBIT INDEX

EXHIBIT NO.	DESCRIPTION
99.1	Press Release of Avon Products, Inc., dated February 3, 2004, supplementing earlier press release, which announced fourth quarter and full year 2003 earnings.

EX-99.1

Exhibit 99.1

MEDIA:	INVESTORS:
Victor Beaudet	Renee Johansen
(212) 282-5344	Rob Foresti
	(212) 282-5320

AVON REPORTS RECORD FOURTH QUARTER EPS OF $1.09
EXCEEDING PREVIOUS GUIDANCE OF $1.03 - $1.04
WHICH INCLUDED TAX AUDIT SETTLEMENT BENEFIT

NEW YORK, N.Y., February 3, 2004 – Avon Products, Inc. (NYSE:AVP) today reiterated that its previous guidance of December 8, 2003 of $1.03-$1.04 included an approximate $.05 benefit per share from a tax audit settlement in the quarter. Today’s reported results of $1.09 per diluted share versus $.80 per diluted share in the fourth quarter of 2002, are $.05-$.06 ahead of previous guidance due to positive impact of currency translation, stronger than anticipated operating results, lower net interest expense, a lower rate and lower than expected severance expense related to business transformation initiatives.

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