11.03.14
Despite the raft of bad publicity foisted on it by investor Bill Ackman, Herbalife still increased second quarter results—just not as quickly as previously expected. The nutrition and personal care company reported second quarter net sales rose 7% to $1.3 billion. However, net income slipped 6% to $141.4 million.
The company said distraction from the summertime World Cup soccer tournament in Brazil and a new method to qualify for discounts in the US both contributed to slowing sales volume in the Americas. Net income also was depressed by currency changes, including devaluation of the Venezuelan bolivar and higher taxes.
The company said distraction from the summertime World Cup soccer tournament in Brazil and a new method to qualify for discounts in the US both contributed to slowing sales volume in the Americas. Net income also was depressed by currency changes, including devaluation of the Venezuelan bolivar and higher taxes.