Direct Selling Index Continues to Lag the Market; Top Line Deceleration Continues Our Direct Selling index recovered a bit in the 2019 Q4 and ended up being down (23 percent) in 2019, which sharply trailed the strong +29 percent gains in the S&P 500 for the year. We note that we have removed Avon (AVP)…

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The six publicly traded direct selling companies we follow, whose stocks are listed in the U.S., Herbalife (HLF), Medifast (MED), Nu Skin (NUS), Tupperware (TUP), USANA (USNA) and London-based Avon Products (AVP), began 2018 in much the same fashion as how they exited 2017. On balance, trends continue favorable. In aggregate, on an equal weighted…

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