Herbalife
This article was originally published in The Tan Sheet
Executive Summary
U.S. retail sales rose 29.3% to $122.7 mil. for the first quarter, firm announces April 28. North and South American retail sales increased 32.2% to $160.1 mil. Worldwide performance was up only 6.9% due to sinking retail sales in Asia/Pacific Rim (down 4% to $185.6 mil.) and Europe (down 6% to $122.7 mil.). However, European retail sales improved 9% in local currency. Excluding distributor allowances, net sales grew 7.8% to $244 mil., compared to the prior-year period. Net income was flat at $11.6 mil. due to a $5.9 mil. charge related to the failure of CEO Mark Hughes' plan to buy back company's shares and take the firm private (1"The Tan Sheet" Sept. 20, 1999, p. 15)
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