Nu Skin Enterprises recently announced its second-quarter financial results, with revenue totaling $682.9 million for a 15 percent year-over-year increase. The strong second-quarter figures and attendant $90 million increase in Nu Skin’s annual sales forecast boosted the company’s stock to close out last week with a 7 percent gain.
The Provo, Utah-based company experienced growth in the Greater China, North Asia and Americas regions. In Greater China, Nu Skin’s most flourishing market, the company’s skincare and wellness products generated $269.1 million, up 35 percent from $199.7 million in the prior year. Reflected in that growth is Nu Skin’s 51 percent increase in sales leaders and 121 percent increase in active distributors throughout the region.
Approximately $100 million of Nu Skin’s Greater China revenue resulted from product launches in the region. DSN recently spoke to Nu Skin President and CEO Truman Hunt, who shared insights about the company’s emphasis on its product launches and the value of aligning sales leaders globally behind each initiative.
Nu Skin has also announced that it will expand its share repurchase program by $400 million. The company’s last authorization came in May 2012, when Nu Skin announced a $250 million repurchase. According to Chief Financial Officer Ritch Wood, the latest repurchase program reflects optimism regarding the company’s financial strength and the momentum that will continue with the global rollout of its ageLOC TR90 weight-management system.
