Stream board member and former CEO Mark “Bouncer” Schiro is transitioning to the role of chairman, the services provider said Tuesday.
Personalized jewelry brand KEEP Collective does about 75 percent of its business online, but expect that number to grow thanks to the company’s new digital Design Studio.
Younique Products arrived in Hong Kong on October 3, 2016, and brought the opportunity for Hong Kong residents to join a global family of over 550,000 successful Presenters worldwide (10 markets including the U.S., Germany, France, Spain, and Hong Kong).
Its flagship product Moodstruck 3D Fiber Lashes+, the premium mascara that skyrocketed Younique to the top of the direct-selling makeup industry, will be available to purchase, along with other viral products like “liquid gold” Touch Liquid Foundation, on November 1, 2016.
The Younique mission to uplift, empower, validate, and ultimately build self-esteem in women around the world through high-quality products is making its way through Asia, and the first 999 founding Hong Kong Presenters will join an exclusive Founders Club and enjoy benefits like HK$245 in product credit (Y-Cash), an exclusive charm, and often become leaders in their market, earn special incentives, and build successful Younique businesses.
Younique is the first direct sales company to market and sell almost exclusively through the use of social media and our trademarked Younique Virtual Party™. The power of a Virtual Party is not limited by language or distance, saving Presenters time and the need to arrange childcare or have a home party.
The virtual party allows you to use the resources and connections that you already have, including your friends, and the friends of your friends, unleashing the power of your own social networks.
Living the Younique lifestyle is devoting yourself to helping a global Y-Family of women realize their potential for personal and financial growth. Younique Presenters are paid commissions three hours after each sale, offer beautiful, high-end makeup and beauty products, and are experiencing phenomenal growth in Europe and across the globe.
Younique’s mission is to uplift, empower, validate, and ultimately build self-esteem in women around the world through high-quality products that encourage both inner and outer beauty and self-actualization while also providing opportunities for personal growth and financial reward.
Younique is the first direct sales company to market and sell almost exclusively through the use of social media and keeps product offerings fresh with bi-annual product releases.
Natural Health Trends Corp ., a leading direct-selling and e-commerce company that markets premium quality personal care, wellness and “quality of life” products under the NHT Global brand, today announced its financial results for the quarter ended September 30, 2016.
Third Quarter2016 Financial Highlights
Year-to-Date 2016 Financial Highlights
“We had a challenging third quarter characterized by various adverse factors contributing to a 13% year-over-year decline in our total revenue,” commented Chris Sharng, President of Natural Health Trends Corp. “In addition to a tough year-over-year comparison in the third quarter of 2015 due to a highly successful promotion we ran last year during an otherwise seasonally slower quarter, we encountered currency depreciation of the Chinese yuan by 6% against the Hong Kong dollar.”
” This effectively increases the price of our products for our members residing in mainland China. That said, we believe the G20 Summit, which was hosted in Hangzhou, one of our top performing markets, was the significant driver behind the quarter’s decline in revenue. To prepare for the high profile event, the Chinese government implemented special measures such as temporarily relocating city residents, emptying entire districts, blocking urban traffic and shutting down businesses from July through early September. As a result, our local members’ abilities to organize any activity in the Hangzhou metropolitan area were hampered.”
Mr. Sharng further commented, “Despite these factors, we were pleased to have increased our revenues for the first nine months of 2016 by 18% over last year as well as achieve record operating profit for the quarter of $15.2 million, up 3% over last year. To reinvigorate growth in our affected markets, we have developed a strategic plan which includes leader training and motivation, expansion by both geography and product, and technological advancements to support enhanced member communication and productivity. We are working hard to build sustainable, long-term growth and we will strive to get there through execution on our strategic initiatives while simultaneously returning excess cash to our valued stockholders.”
Balance Sheet and Cash Flow
About Natural Health Trends Corp.
Natural Health Trends Corp. is an international direct-selling and e-commerce company operating through its subsidiaries throughout Asia, North America, and Europe. The Company markets premium quality personal care products under the NHT Global brand. Additional information can be found on the Company’s website at www.naturalhealthtrendscorp.com .
USANA Health Sciences , Inc. (NYSE: USNA) today announced financial results for its fiscal third quarter ended October 1, 2016.
Net sales for the third quarter of 2016 increased by 9.0% to $254.2 million, compared with $233.3 million in the prior-year period, but came in below the Company’s expectations due to softer-than-anticipated sales in the Greater China region.
The increase in net sales is attributed to a 12.6% increase in the number of active Associates and a 5.6% increase in the number of Preferred Customers. The continued strength of the U.S. dollar negatively impacted net sales during the quarter by $5.7 million.
Net earnings for the third quarter of 2016 increased to $30.1 million, an increase of 17.5% compared to $25.6 million in the prior-year period. The increase in net earnings was due primarily to a meaningfully lower effective tax rate, as well as higher net sales, which were partially offset by higher operating expenses during the quarter.
The significant decrease in the effective tax rate for the third quarter is due to the Company’s early adoption of ASU 2016-09 (Topic 718) – Improvements to Employee Share-Based Payment Accounting.
As a result of USANA’s adoption of this standard, on a year-over-year basis, the Company recognized (i) modestly higher equity compensation expense, (ii) a higher diluted share count, and (iii) a meaningfully lower effective tax rate for the current-year quarter due to the recognition of excess tax benefits on the income statement pursuant to this standard (excess tax benefits were previously recognized as an adjustment to equity). For the third quarter, the Company’s adoption of this standard increased net earnings by approximately $6.5 million, or $0.50 on a diluted per share basis.
Earnings per diluted share for the third quarter increased by 25.0% to $2.40, compared with $1.92 in the prior year period. The increase in earnings per share was the result of the adoption of the previously noted accounting standard as well as a lower number of diluted shares outstanding due to the Company’s share repurchases over the last 12 months. Weighted average diluted shares outstanding were 12.5 million as of the end of the third quarter of 2016, compared with 13.3 million in the prior-year period.
The Company’s balance sheet remains strong with $134.5 million in cash and cash equivalents. As of October 1, 2016, the Company also had $35.4 million remaining under its current share repurchase authorization.
“While USANA posted another quarter of solid growth and achievements, our topline results in the Greater China region came in below our expectations and impacted our overall results,” said Dave Wentz, USANA’s Co-CEO.
“Our top priorities for 2016 continue to be completing the transition to our state-of-the-art production facility in Beijing and enhancing our information technology infrastructure around the world. These improvements are essential to allow USANA to continue providing the highest level of customer service and to provide the foundation for future growth.
Our focus on these objectives, however, has taken precedence over short-term initiatives to drive sales growth around the world in 2016 and also affected our momentum in China during the quarter. I am pleased to report, however, that during the quarter we received all of the necessary permits to begin production in our new China facility and we now anticipate that the facility will be fully operational by the end of the year. With this facility coming online, we are making preparations to begin offering growth initiatives in China in early 2017, but continue to believe that we will be in a better position to fully drive growth in China and our other markets when the improvements to our IT infrastructure are complete.”
“Despite these growing pains, during the quarter we introduced one of the greatest product innovations in USANA’s history with the launch of our Incelligence™ product platform at our International Convention in August,” continued Mr. Wentz. “Incelligence™ is USANA’s proprietary, patent-pending technology that is designed to support your body’s natural ability to nourish, protect and renew itself. As part of our Incelligence™ platform, we also launched our new flagship multivitamin, CellSentials™, at convention.
These launches, and our convention in general, were a huge success. We set new records for sales and attendance at our convention and our 2017 event has already sold out. Incelligence™ is being launched in our various markets around the world and is a key part of our growth strategy.”
USANA develops and manufactures high-quality nutritional supplements, healthy foods and personal care products that are sold directly to Associates and Preferred Customers throughout the United States, Canada, Australia, New Zealand, Hong Kong, China, Japan, Taiwan, South Korea, Singapore, Mexico, Malaysia, the Philippines, the Netherlands, the United Kingdom, Thailand, France, Belgium, Colombia and Indonesia.
More information on USANA can be found at http://www.usanahealthsciences.com .
My 24 Hour Income launched a few months ago. Drew Burton and Faheem Rajput appear on the My 24 Hour Income website, however their specific roles within the company are not disclosed. Drew Burton is based out of Canada and appears to be a serial MLM underbelly inhabitant. Prior to launching My 24 Hour Income Burton [Continue reading…]