11.04.21
Nu Skin Enterprises, Inc. reported revenue of $641.2 million in the third quarter for 2021 compared to the prior year over year, which was $703.3 million.
The figure, according to Nu Skin CEO Ryan Napierski, is lower than anticipated due to disruptions caused by the Covid delta variant as unanticipated government restrictions interrupted selling and promotional activities in many markets, namely, Mainland China and Southeast Asia. Despite the short-lived impacts, growth continued in the US driven mainly by Beauty Focus Collagen+ launch. Korea saw doubled-digit growth attributed to successful product promotions and sales leader initiatives.
"Looking ahead, we anticipate the ongoing rollout of our Collagen+ and ageLOC Meta products in Q4 will build momentum going into next year,” said Napierski. “For 2022 and beyond, we remain focused on our vision of becoming the world's leading beauty and wellness company, powered by our dynamic affiliate opportunity platform. We will work toward this by introducing our EmpowerMe personalized beauty and wellness strategy with connected beauty devices, increasing adoption of our affiliate-powered social commerce business model and expanding our digital platform. Amidst global uncertainty, we are confident in this strategy as we transform our company toward our vision for the future."
Mark Lawrence, chief financial officer, said anticipated annual revenue growth for the year ahead is 3 to 5%, with earnings per share growth of 8 to 11%.