Avon Products Inc, the world's biggest direct seller of beauty products, said yesterday that its second-quarter profit dropped 54 percent, mostly due to charges from a restructuring program aimed at reviving lackluster sales. The New York-based company said that for the three months ended on June 30 it earned US$150.9 million, or 33 cents per share, compared with US$328.6 million, or 69 US cents per share, in the year-ago period. (Shanghai Daily)

The world's third-largest retailer, Germany's Metro Co, opened its first store in Beijing on Friday. The Wanquanhe outlet, located in the Haidian district, covers an area of 10,000 square metres and offers more than 22,000 items for professional customers such as hotels, restaurants and government organizations. The German retailer plans to open four stores in Beijing before 2008 and establish six to 10 stores annually in China. (China Daily)

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