Nu Skin Enterprises, Inc. (NYSE: NUS) announced fourth quarter and 2019 financial results.
For the fourth quarter of 2019 the company reported revenue of $583.4 million, down 15 percent from 2018. Regionally, revenue for Q4 2019 was as follows:
- Mainland China, down 29%
- Americas/Pacific, down 9%
- South Korea, down 20%
- Southeast Asia, down 7%
- Japan, up 2%
- EMEA, down 9%
- Hong Kong/Taiwan, down 13%
“In the fourth quarter our business performed in line with expectations,” said Ritch Wood, chief executive officer. “Our customer base remained relatively strong; however, our sales leader count was down in the quarter, primarily driven by a decline in Mainland China.”
For the year, revenue was $2.42 billion, down 10 percent from $2.68 billion in 2018.
Regionally, revenue for 2019 was as follows:
- Mainland China, down 18%
- Americas/Pacific, down 9%
- South Korea, down 12%
- Southeast Asia, down 5%
- Japan, up 2%
- EMEA, down 8%
- Hong Kong/Taiwan, down 11%
“In 2020, we are focused on building sales leaders by leveraging our technology enhancements and executing a strong product launch,” said Wood. “As always, the health and safety of each member of our global Nu Skin family is our top priority. Following the recent coronavirus outbreak, we placed a temporary hold on all in-person meetings with our sales force and customers in Mainland China.”
“For the year, we are projecting a decline in sales in Mainland China of 20 to 25 percent and a negative foreign currency impact of 1 to 2 percent,” said Mark Lawrence, chief financial officer. “We currently anticipate the overall business will return to growth in the fourth quarter of 2020, driven by the launch of a new beauty device.”
To read the complete Nu Skin Q4 and 2019 report, click here.
