Herbalife Experiencing Stellar Sales Despite Slumping Economy
Herbalife, the global multi-level/network marketing (MLM) giant reported its 19th consecutive quarter of double digit sales growth, according to a recent earnings report. The company grew sales 13.7% to $602 million in the third quarter.
The sales gains were attributed to the company’s global growth, including double digit sales gains in Brazil, China, Italy, Taiwan and South Korea. Profit margins were reported at 14.7%. Herbalife also has $33 million in capital expenditures, primarily in technology investments for distributors.
North American sales were up 23% over third quarter 2007, despite a worsening economy domestically. "In these turbulent economic times, we believe we're in a fortunate position at the intersection of health and wealth," said Chairman and Chief Executive Officer Michael Johnson. Herbalife’s products are sold in more than 69 countries with more than 1.9 million independent distributors.
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