NEW YORK (TheStreet) --Shares of Avon Products Inc. (AVP - Get Report) are down by 3.85% to $8.25 in pre-market trading on Thursday, after the beauty and related products manufacturer posted a year-over-year decline in earnings and revenue for the 2014 fourth quarter which missed analysts' forecasts.

For the most recent quarter Avon Products said its adjusted net income from continuing operations was $89 million, or 20 cents per diluted share compared to $151 million, or 34 cents per diluted share for the 2013 fourth quarter.

Analysts were expecting earnings of 25 cents per share for the latest quarter.

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Avon said its revenue fell by 12% to $2.3 billion for the 2014 fourth quarter, while analysts had predicted $2.35 billion in revenue.

"While progress against our financial goals in 2014 was slower than I would have liked, I am pleased with the sequential improvements we made in several key markets and categories in the second half of the year. We have stronger management teams across our key markets and better discipline in executing consistently against Avon's core processes," Avon CEO Sheri McCoy said.

"Going into 2015, we intend to build on that momentum. However, based on strengthening of the U.S. dollar, we expect the impact of foreign currency on our reported results to be significant. We are working to mitigate as much of the impact as possible. Avon has weathered emerging market cycles in the past and I'm confident we will do so again," the CEO added.

Separately, TheStreet Ratings team rates AVON PRODUCTS as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:

"We rate AVON PRODUCTS (AVP) a SELL. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its generally high debt management risk, disappointing return on equity and generally disappointing historical performance in the stock itself."

You can view the full analysis from the report here: AVP Ratings Report

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