Happi Staff05.07.20
Nu Skin Enterprises Inc. has reported its first-quarter 2020 results above guidance.
Revenue for the three months ended March 31 was $518.0 million, a decrease of 17% compared to $623.6 million in 2019. Mainland China, Nu Skin’s largest segment reported net sales of $137.696 million, a decrease of 34% compared to the prior year.
"While there is a great deal of uncertainty in the broader economy, we are optimistic our business will perform well as sales leaders leverage our technology investments to drive product demand and interest in the business opportunity," said Ritch Wood, CEO of Nu Skin Enterprises. "The situation in Mainland China is stabilizing with the country returning to work, a key development we believe will translate into improvement throughout the year. We anticipate similar trends in most of our other markets as pandemic restrictions begin to ease elsewhere across the globe. We continue to believe this trend, paired with the global preview of our newest beauty device late in 2020, sets our business up for a return to growth toward the end of the year."
The company anticipates net sales of $520 million to $550 million for the second quarter of 2020 and revenue of $2.17 billion to $2.26 billion for the full year.
Revenue for the three months ended March 31 was $518.0 million, a decrease of 17% compared to $623.6 million in 2019. Mainland China, Nu Skin’s largest segment reported net sales of $137.696 million, a decrease of 34% compared to the prior year.
"While there is a great deal of uncertainty in the broader economy, we are optimistic our business will perform well as sales leaders leverage our technology investments to drive product demand and interest in the business opportunity," said Ritch Wood, CEO of Nu Skin Enterprises. "The situation in Mainland China is stabilizing with the country returning to work, a key development we believe will translate into improvement throughout the year. We anticipate similar trends in most of our other markets as pandemic restrictions begin to ease elsewhere across the globe. We continue to believe this trend, paired with the global preview of our newest beauty device late in 2020, sets our business up for a return to growth toward the end of the year."
The company anticipates net sales of $520 million to $550 million for the second quarter of 2020 and revenue of $2.17 billion to $2.26 billion for the full year.