Herbalife Reports Second Straight Year Of Record Sales And Of Costs Climbing Due To Pandemic
Herbalife’s Asia-Pacific region led 2021 sales growth even as China sales continued to slide despite initiatives to boost business there. It reported record sales levels despite limits due to COVID-19 pandemic on shopping and other consumer activity while pandemic continues impacting supply and shipping costs and influenced 2022 earnings forecast.
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Herbalife reported $1.3bn net sales in latest quarter, 11% off previous year on lack of in-person sales experiences from distributors recruited during pandemic.
Inflation's impact on consumer spending will be front and center in sector’s quarterly reports, beginning with J&J on 19 April. Potential impact also from price hikes common from most firms since early 2021 in response to increasing costs. Russia’s invasion of Ukraine also will prompt comment.
Herbalife reports 46% growth in India fuels 11% sales increase to $393.5m for its Asia-Pacific region in Q3. Most regions had comparisons with year-ago quarter when pandemic stockpiling lifted sales.