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said Tuesday it was pulling out of the skin care and color cosmetics business as part of a "strategic review" of its full-line stores.

As a result of the decision, the retailer expects to record a charge of about $53 million in the second quarter.


Avon Products

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won't continue with the launch of the cosmetics company's new retail brand, beComing, in Sears stores this fall. In a separate statement released this morning, Avon said the product would be launched, as planned, in stores of

J.C. Penney

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"As work on improving the performance of full-line stores progresses, it has become clear that a broad cosmetics business no longer fits with our financial and strategic objectives for Sears full-line stores," the company said in a press release, adding that it would continue to offer selected fragrances and other related products.

Shares of Sears recently fell 18 cents, or 0.4%, to $41.02, while Avon slipped 78 cents, or 1.7%, to $44.47. Meanwhile, J.C. Penney dipped 43 cents, or 1.8%, to $24.20.