USANA Lowers Guidance After 15% Q1 Sales Drop; Mannatech Reports Nearly $1M Undelivered Goods
Executive Summary
Due to uncertainty in COVID-19 landscape in China, USANA adjusted its 2022 fiscal year guidance. Direct seller Mannatech decreased its number of fulfilled orders by 6% in the first quarter.
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Both health and wellness direct sellers reported double-digit decreases in net sales and steep drops in net income for Q2.
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Pandemic-related market lockdowns, shipping backlogs and other disruptions in mainland China and other countries USANA referenced in announcement also could affect results for its direct-selling competitors as well as other firms in health, wellness, personal care and beauty industries.
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For its 2021 FY and Q4 results, nutritional and weight loss products direct seller reports lower gross margin and marketing expenses also contributed to lower-than-expected diluted EPS, down 45% to 18 cents.