Avon Products Inc

Midday Market Minute: Michael Kors Shares Jump to Lifetime High

Shares of Michael Kors, Fossil, and Avon Products all opened sharply higher on Tuesday after the companies posted encouraging quarterly results. The strong reports show that consumers are starting to warm up to the luxury goods that were hard to justify when the economy was sputtering.

Avon to Cut 1,500 Jobs; CEO Says Layoff Will Stabilize Company

Struggling beauty products seller Avon said late Tuesday it will cut about 1,500 jobs and exit the South Korea and Vietnam markets. The job cuts amount to almost 4 percent of its workforce and are one of the first major moves by CEO Sheri McCoy, who in April replaced longtime CEO Andrea Jung.