01.06.17
Nu Skin Enterprises, Inc. reported third-quarter revenue rose 6% to $604.2 million, which was above its guidance.
“We are pleased that we exceeded guidance and posted year-over-year growth during the quarter,” said Truman Hunt, president and chief executive officer. “We introduced ageLOC Youth in South Korea in the quarter and saw continued enthusiasm around the globe for our latest ageLOC products. We produced double-digit gains in North Asia and Greater China and posted growth in each of our regions with the exception of South Asia/Pacific, where a significant limited-time offer in the prior year made for a difficult comparison. We also generated modest growth in sales leaders globally.”
Nu Skin raised its guidance for the year given strong results in the third quarter. Fourth-quarter promotional activities are focused on driving consumer loyalty, according to Hunt. South Korea and South Asia will run ageLOC Me incentives, the Americas will launch ageLOC Me, and Japan and South Korea will launch ageLOC Youth. In addition, Nu Skin moved the launch of ageLOC Me in the Greater China region to January.
“Toward the end of the quarter we began deploying funds to repurchase stock, and anticipate that by the end of 2016 we will have utilized the $210 million acquired through the convertible note investment made by Ping An Securities,” concluded Hunt.
For 2017, Nu Skin expects revenue of $2.26-2.30, representing local currency growth of 4-6%.
“We are pleased that we exceeded guidance and posted year-over-year growth during the quarter,” said Truman Hunt, president and chief executive officer. “We introduced ageLOC Youth in South Korea in the quarter and saw continued enthusiasm around the globe for our latest ageLOC products. We produced double-digit gains in North Asia and Greater China and posted growth in each of our regions with the exception of South Asia/Pacific, where a significant limited-time offer in the prior year made for a difficult comparison. We also generated modest growth in sales leaders globally.”
Nu Skin raised its guidance for the year given strong results in the third quarter. Fourth-quarter promotional activities are focused on driving consumer loyalty, according to Hunt. South Korea and South Asia will run ageLOC Me incentives, the Americas will launch ageLOC Me, and Japan and South Korea will launch ageLOC Youth. In addition, Nu Skin moved the launch of ageLOC Me in the Greater China region to January.
“Toward the end of the quarter we began deploying funds to repurchase stock, and anticipate that by the end of 2016 we will have utilized the $210 million acquired through the convertible note investment made by Ping An Securities,” concluded Hunt.
For 2017, Nu Skin expects revenue of $2.26-2.30, representing local currency growth of 4-6%.