Larger cosmetics companies like Avon Products Inc. (AVP) and Nu Skin Enterprises Inc. (NUS) are still grappling with a consumer tide shifting toward niche products, along with other revenue issues, according to this earning season’s trends. Both companies failed to meet Street estimates and noted declining revenue that sent their stocks plunging.

New York-based Avon reported fourth quarter results late Feb. 16 that revealed revenue declined 2 percent to $1.6 billion from the same quarter a year prior. Avon’s brands, including ANEW, Avon Color, Skin-So-Soft and Avon Care, are just not drawing the sales they once did, in part because of a fewer number of Avon representatives.

“The financial results for the fourth quarter were disappointing, largely due to the decline in active representatives and an unexpected increase in bad debt expense," said Sheri McCoy, Chief Executive Officer in a statement. "As we move into 2017, we are taking actions to deliver more consistent performance across our markets, with representative engagement remaining a key priority in our growth plan.”

Avon shares trading down 20% from their prices before the quarterly report. Shares are down 6.6% year to date.

Similarly, Nu Skin shares also tanked after its recent quarterly earnings report Feb. 16. The Provo, Utah-based company reported fourth quarter revenue of $531 million, down 7 percent from $572 million the same quarter a year prior and short of Street estimates of $553 million. Nu Skin CEO Truman Hunt attributed the revenue decline in part to extra revenue in 2015 from new product launches, product shortages in certain markets and deferred revenue impacts.

Nu Skin shares have skidded more than 12% off the report, and are now trading about in the middle of a 52-week range of $27.74 to $66.04. NUS is up less than 1 percent since the start of the year.

Revlon (REV), based in New York, reports its quarterly results before the opening bell on Feb. 24. Revlon shares were unaffected by either earnings report, with the stock up 5.2% the last five sessions.

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