Nu Skin Enterprises Inc., a Provo, Utah-based seller of cosmetics, personal care and wellness products, has reported fourth-quarter and 2017 financial results.
For the fourth quarter ended December 31, 2017, the company reported revenue of $666.2 million, an increase of 25.4 percent from $531.3 million in 2016.
“We concluded 2017 on a high note with solid quarterly results driven by customer and sales leader growth,” said CEO Ritch Wood. “Our growth strategy, which remains focused on three key elements—engaging platforms, enabling products and empowering programs—continues to drive our positive results. According to plan, we introduced ageLOC LumiSpa during the fourth quarter, which contributed to strong results in most of our markets. We also experienced continued momentum surrounding our social selling efforts, which we expect will be a catalyst for continued customer growth in 2018 and beyond.”
For the full-year 2017, revenue of $2.28 billion was up 3 percent from $2.208 billion in 2016.
“Our 2018 guidance reflects optimism about our business prospects for the coming year, with expected top- and bottom-line growth,” said Wood. “Our plans are focused on growing our customer base by executing on our 3P—Platforms, Products, Programs—growth strategy. We expect to further leverage the power of social selling and believe this channel will empower our sales leaders to reach a broader audience, helping to enable greater sales growth. On the product front, we are accelerating the introduction of innovative and socially shareable products, led by our recently introduced ageLOC LumiSpa, which is rolling out globally in the first half of 2018. We have also begun implementing sales compensation enhancements to more effectively reward our sales leaders and drive increased productivity.”
To read the full Nu Skin Q4 report, click here.