02.15.24
Personal care company, Nu Skin Enterprises has announced its fourth quarter and full-year 2023 results that were slightly above its latest guidance.
In the fourth quarter, Nu Skin saw a revenue of $488.6 million and a 10% growth in sales. The full-year revenue totaled $1.97 billion with a 3% FX impact.
Nu Skin president and CEO, Ryan Napierski commented: “While we continue to work towards our long-term vision of becoming the world’s leading integrated beauty and wellness platform, our progress was impacted by persistent macro-economic pressures and disruptions associated with transforming our business.”
While results were above the company’s latest guidance, sales were down in the South Korean, American, and European & African regions. Nu Skin saw stabilization in Japan and seasonal promotions in Mainland China led to growth in Hong Kong/Taiwan.
Its Rhyz business accounted for 13% of Nu Skin’s Q4 revenue.
“We are committed to gathering long-term enterprise value by repositioning our company to win the rapidly evolving beauty and wellness industries by further transforming our core Nu Skin business and accelerating investment in our rapidly growing Rhys ecosystem,” Napierski added. “To enhance this transformation, we are reassessing our approach to capital allocation to invest in long-term growth and business evolution. This initiative aims to grant us increased financial flexibility, enabling us to effectively seize forthcoming growth opportunities.”
E.l.f. Beauty also reported an increase in sales in its third quarter of 2024.
In the fourth quarter, Nu Skin saw a revenue of $488.6 million and a 10% growth in sales. The full-year revenue totaled $1.97 billion with a 3% FX impact.
Nu Skin president and CEO, Ryan Napierski commented: “While we continue to work towards our long-term vision of becoming the world’s leading integrated beauty and wellness platform, our progress was impacted by persistent macro-economic pressures and disruptions associated with transforming our business.”
While results were above the company’s latest guidance, sales were down in the South Korean, American, and European & African regions. Nu Skin saw stabilization in Japan and seasonal promotions in Mainland China led to growth in Hong Kong/Taiwan.
Its Rhyz business accounted for 13% of Nu Skin’s Q4 revenue.
“We are committed to gathering long-term enterprise value by repositioning our company to win the rapidly evolving beauty and wellness industries by further transforming our core Nu Skin business and accelerating investment in our rapidly growing Rhys ecosystem,” Napierski added. “To enhance this transformation, we are reassessing our approach to capital allocation to invest in long-term growth and business evolution. This initiative aims to grant us increased financial flexibility, enabling us to effectively seize forthcoming growth opportunities.”
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