Avon could sell North America business: WSJ

Avon nail products
Source: Avon
Avon nail products

Avon Products is considering a possible sale of its North America business as it explores strategic alternatives, The Wall Street Journal reported Tuesday.

Trading in the stock was briefly halted Tuesday because of volatility. It spiked when trading resumed around 12:50 p.m. ET and by midafternoon it was up nearly 12 percent.

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Avon on Monday canceled its analyst meeting slated for next month. The Journal said the structural review prompted the postponement until the fall.

A deal for the North American business is not imminent, the newspaper added, citing people familiar with the situation.

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Avon posted a diluted loss of 88 cents per share in fiscal 2014. Its total revenue and operating profit have fallen every full fiscal year since 2011.

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The company declined to comment on the report.

Click here to read the full story in the Journal.