Avon Products Inc.: The cosmetics, perfume and...

Avon Products Inc.: The cosmetics, perfume and jewelry giant posted 1989 profit of $54.6 million, contrasted with a net loss of $404.5 million in 1988 caused by losses of $545.6 million from discontinued operations. Sales climbed 8% to $3.3 billion. For the fourth quarter, the New York-based firm had a net loss of $25.7 million, contrasted with a profit of $56.6 million a year earlier. Sales inched up 2% to $1.03 billion. The improved results were attributed to a substantial reduction in debt, helped by the sale of the Parfums Stern unit, the firm said.