Avon is aiming to navigate through the holiday season, while simultaneously planning the sale of its beauty supply chain. As reported by The Wall Street Journal, Avon is currently negotiating the sale of its North American operations to private equity firm, Cerberus Capital. Cerberus is known for its focus on investing in stressed assets and might also become an investor in Avon, potentially securing positions on the board of the historic 130-year-old company. On speculation of the North American business sale, shares in the New York-based company, which reported a loss of $697 million last quarter, saw a 5.76% surge, closing at $4.22. Further details can be found on CBS Money Watch.
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