Sales in the company’s “sales markets” increased by 24% in the fourth quarter of 2023, when compared to the previous year’s quarter. Overall, total revenues in the Group saw a 23% increase in the fourth quarter, reaching $50.4 million. 

South and Western Europe, which includes Cyprus, France, Greece, Italy, Luxembourg, Malta, Netherlands, Slovenia, Spain, UK, Belgium, Ireland and Turkey, saw the greatest sales improvement, with a 62% increase year to date and a 72% improvement in the fourth quarter of 2023. 

The post Zinzino Announces 23% Boost to 2023 Revenue  first appeared on Direct Selling News.

Recruitment of new independent associates and preferred customers dipped by 2.59% to 19,309 from the previous year’s quarter. Total independent associates and preferred customers numbered 142,000, a decline from 152,000 in the second quarter of 2022. 

Considering results from the first six months of 2023, the company’s net sales reached $66.7 million, a slight decline from $67.3 million in the first half of 2022. 

The company ended the quarter with cash and cash equivalents of $9.3 million. 

The post Mannatech Reports Q2 2023 Net Sales of $32.6 Million  first appeared on Direct Selling News.

Asia was the company’s leading operating segment, with $54.8 million in net sales during the quarter, a 15.8% increase over the prior year’s quarter. Total operating income in the second quarter was $7 million, or 6% of net sales, an increase from last year’s $5.8 million and 5.5% of net sales. 

“The momentum established in the beginning of the year strengthened in the second quarter as we delivered our second-best sales quarter in our history with net sales of $117 million, or $119 million on a constant currency basis—up 14% versus the prior year,” said Terrence Moorehead, Nature’s Sunshine CEO. “We continued to experience sequential sales growth in nearly all our markets as our strategic initiatives gained momentum. Strong sales growth and improved gross margin helped drive a 26% increase in adjusted EBITDA to $11 million for the quarter. Leading this growth was strength in Asia/Pacific, followed by further stabilization in Central and Eastern Europe, and a return to growth in North America supported by our digital investments and improved field activation. Our second quarter results are indicative of the strong underlying fundamentals of our business that allowed us to drive results in the face of challenging external headwinds. As we move forward, we will continue to focus on driving customer growth and creating a more resilient business supported by our strong balance sheet and our global team of experts on the ground.” 

The company expects full year 2023 net sales to now range between $440-$455 million with an adjusted EBITDA between $34-$38 million. 

The post Nature’s Sunshine Shows 12% Increase in Net Sales in Q2 2023  first appeared on Direct Selling News.

Domestic health appliance sales revenue increased 2.9% from the second quarter of last year to $288.6 million, which the company primarily attributed to successful product sales across categories, including water purifiers, air purifiers, and mattresses. 

“We’ve successfully sustained steady growth through global market expansion, innovative product offerings, and strategic marketing efforts, despite difficult market circumstances,” said Soon Tae Kim, Coway Chief Financial Officer. “Our strategies for the rest of the year will focus on further strengthening both local performance in Korea and international business activities while fostering the growth of our sleep and wellness brand BEREX.” 

The post Coway Reports Q2 2023 Revenue of $766 Million  first appeared on Direct Selling News.

Average revenue per active earning OPTAVIA Coach was $5,578, down from $6,667 in the same period last year, representing a 16.3% decline. Total number of active earning OPTAVIA Coaches decreased 21.9% to 53,100, down from 68,000 in the second quarter of 2022. 

Gross profit was down 34.5% to $210.7 million due to lower revenue, but gross profit as a percentage of revenue was 71.1%, compared to 71% in the same period last year. Net income during the quarter was $30.3 million, or $2.77 per diluted share, down from $39.1 million, or $3.42 per diluted share, in the same quarter of 2022. 

“Industry dynamics have changed numerous times over the years and Medifast has proven adept at making the necessary adjustments in its business model to thrive in new environments,” said Dan Chard, Medifast Chairman & Chief Executive Officer. “Even though the operating environment remains challenging, and we continue to expect that programming adjustments, compensation dynamics, and future growth initiatives will take time to deliver meaningful results, we are confident that the changes we are making to diversify our business into new areas will have similar success.” 

The company ended the quarter with $147.4 million in cash and cash equivalents and announced third quarter 2023 revenue guidance in the range of $220-$240 million. Third quarter diluted EPS is expected to be in the range of $0.71-$1.32. 

The post Medifast Reports Q2 2023 Revenue of $296.2 Million  first appeared on Direct Selling News.

Agents and brokers on the eXp Realty platform increased 7% year over year to 88,248, even as transactions decreased by 9% and transaction volume decreased 16% to $48.6 billion. 

“We delivered another profitable quarter despite lower transaction volume, as persistently high mortgage rates kept many buyers on the sidelines,” said Jeff Whiteside, eXp World Holdings CFO and Chief Collaboration Officer. “Even as we continued to fund our key growth priorities and invest in agent-centric innovation, our balanced approach to spending resulted in a higher operating margin compared to the prior year quarter. Our efficient, cloud-based model, strong balance sheet and attractive operating cash flow profile are enabling us to invest in our agents to drive long-term growth and shareholder value. While high mortgage rates are expected to persist in the short term, consumer price inflation has started to cool down in our core North American market, and forward interest rate curves suggest that rates may now be at or near peak levels. We are optimistic that lower mortgage rates will unleash significant pent-up demand as affordability improves and buyers can once again meet seller price objectives.” 

The company ended the quarter with cash and cash equivalents of $124.7 million, up from $121.6 million at the end of 2022. 

The post eXp World Holdings Reports Q2 2023 Revenue of $1.2 Billion  first appeared on Direct Selling News.

The company has expectations that Herbalife One, the company’s new fully integrated, digital technology platform, will streamline the company’s business, accelerate data utilization, reduce costs and simplify transactions for distributors and customers. Including this launch and implementation, the company’s capital expenditures during the first six months of 2023 reached $69 million. Total capital expenditures for the full year 2023 are now expected to reach between $150-$200 million. 

“This is a pivotal time for Herbalife,” said Michael Johnson, Herbalife Chairman and CEO. “Our trends are improving; we are delivering on our product innovation commitments and our distributors are more energized and engaged in our business than I’ve ever seen. We expect this high-level of engagement and strong momentum to continue, driving our return to growth by the end of 2023.” 

Herbalife’s Transformation Program, which began in 2021 to optimize global business processes, is still in progress and now expects to deliver total program run rate savings of at least $90 million in 2024 and beyond. Anticipated savings for 2023 are predicted to exceed $45 million. 

“The second quarter marks our second consecutive quarter of improved year-over-year net sales trends,” said Alex Amezquita, Herbalife Chief Financial Officer. “Our Transformation Program has exceeded our initial expectations and the higher cost savings are positioning us to improve future profitability.” 

The post Herbalife Announces Q2 2023 Net Sales of $1.3 Billion  first appeared on Direct Selling News.

In the first six months of 2023, the company saw an operating loss of $1.1 million, compared to $168,000 in the first six months of 2022, and revenue of $22.4 million. 

“Despite tepid consumer sentiment in post zero-Covid China, we were able to generate orders roughly comparable to a year ago as orders in Hong Kong increased 5% year-over-year,” said Chris Sharng, Natural Health Trends Corp. President. “However, as most of the orders were received in mid to late June, they did not all ship during the quarter. This late surge in orders followed our first large-scale event in more than three years in Macau where nearly 900 guests attended and we kicked off an incentive that helped bring in more order volume. We’re pleased to see that our events and programs resonate with our members and they positively respond to our initiatives. We continue to make progress on key initiatives to drive engagement and improve customer experience. We remain committed and focused on our business essentials of providing top-quality, in-demand products to consumers and supporting our dedicated members and leaders on their NHT Global journey.”  

The company ended the quarter with total cash and cash equivalents of $61.6 million, a $5 million decrease from the first quarter of 2023. 

The post Natural Health Trends Reports $10.5 Million in Q2 2023 Revenue  first appeared on Direct Selling News.

Customer and paid affiliate numbers declined by 25% and 23% year over year, respectively, to 1,041,118 and 187,652. 

The company offered a third quarter outlook of $500-$540 million in revenue with an EPS of $0.54-$0.69, and full year revenue of $2-$2.08 billion with an EPS of $2.15-$2.45. 

“Our second quarter results improved sequentially and landed within our guidance range, driven in large part by year-over-year gains in Mainland China and our Rhyz segments,” said Ryan Napierski, Nu Skin President and CEO. “We are seeing early signs of momentum building in Mainland China; however, we continue to be negatively impacted in several key markets by macro-economic factors and associated price increases that have had a dampening effect on consumer spending and customer acquisition. Despite the lingering macro challenges, we continue to make steady progress toward our Nu Vision 2025 strategy. In Q3 we will be rolling out ageLOC® TRMe®, our personalized weight management system, in China. Most other markets will begin introducing ageLOC WellSpa iO, a smart device system focused on holistic wellness and beauty, with consumer launches in Q4 to help us drive year-over-year growth in the quarter. To complement these introductions, we will be introducing a new channel growth incentive in the second half to attract new affiliates and develop sales leaders. In addition, our Vera® and Stela apps continue to gain healthy traction as downloads and monthly active users exceed expectations.” 

The post Nu Skin Reports Q2 2023 Revenue of $500.3 Million  first appeared on Direct Selling News.

Comparable net revenue, which accounts only for Betterware, decreased by 18.2% because of lower-than-average active associate and distributor numbers. The company stated that this fluctuation has since stabilized, and net revenue for the first half of the year is 84.5% higher than the first half of 2019, or pre-pandemic. 

Betterware ended the second quarter with a stronger balance sheet than the previous quarter. Inventories decreased 20% year over year, reflecting more efficient inventory management, and net debt at the end of the semester was 17.7% less than the same period in 2022. 

“We will continue working to achieve greater efficiencies, focused on further differentiating the company from our competitors through innovation, technological support for the sales force, and data analysis that informs successful strategic decisions,” said Luis G. Campo, Betterware Executive Chairman of the Board. “With solid foundations, we will continue growing revenues and profitability, and will generate greater value for our shareholders. Our first half performance and expectations for the remainder of the year have us well positioned to achieve our 2023 guidance, and we are certain that we are on a great momentum to continue experiencing the positive trend that we have been demonstrating in our results, which encourages us to continue working to achieve the annual objective and maintain the trend of sustained growth in the long term.”

The post Betterware Posts $192 Million in Q2 2023 Revenue  first appeared on Direct Selling News.