China Q4 Sales Slip But Herbalife Has Record Year
USANA China Sales Up In Quarter, Online Business Drives Full-Year Growth
Herbalife Q4 net sales up 15.6% to $1.4bn, a company record for the period, and full-year net sales increased 13.6% as its Asia Pacific, Europe-Middle East-Africa and North America regions reached annual net sales records. USANA reports 5.4% Q4 sales growth in China as full-year sales grew 7% to $1.135bn.
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Direct seller pays fines in settlements with SEC and DoJ on bribery and other charges but two former executives for its operations in China still face criminal charges alleging violations of the Foreign Corrupt Practices Act. They have not been arrested and have remained at large since being charged in November 2019.
While China's scrutiny of promotions slows sales across health product space, Herbalife isn't downplaying a potential impact of SEC and DoJ investigations concerning its compliance in China with requirements of Foreign Corrupt Practices Act and its marketing in the countries. It says US agencies' investigations could reach "materially adverse" conclusions.
White House, Democrat majority in Congress and likely next FTC chair support the agency wielding the authority, says advertising law attorney Holly Melton. Supreme Court, though, likely will rule in pending cases that a strict reading of an FTC regulation doesn’t grant monetary penalty authority.