NEW YORK, United States — Avon Products Inc, a direct seller of cosmetics, is exploring strategic alternatives, which could include a sale of its North America business, the Wall Street Journal reported on Tuesday.

Avon's shares rose as much as 17.6 percent to $9.42 in afternoon trading.

No deal regarding the North American business is imminent, the WSJ said, citing people familiar with the matter.

The company said late on Monday it was postponing its Analyst Day from May 13 to fall 2015 to give adequate time for its new chief financial officer James Scully to prepare for the meeting.

North America represented 14 percent of Avon's revenue in 2014. Avon was not immediately available for comment.

By Shailaja Sharma; editor: Don Sebastian.