Activist Investor Barington Capital and partner NuOrion are calling for Avon Products  (AVP - Get Report) to fire CEO Sheri McCoy as the stock has lost nearly 80% of its value since she took over in 2012. Barington said that the company's turnover is taking longer than it should.

Avon Products shares were rising 2.5% premarket Friday.

The comments came following the company reported a first quarter net loss of 7 cents per share, missing analysts' expectations for the period by 8 cents per share. Revenue of $1.33 billion was in line with analyst expectations for the quarter.