Herbalife
This article was originally published in The Tan Sheet
Executive Summary
Marketing, distribution and administrative expenses decline 9% due to reductions in distribution and overhead for Q1 compared to prior-year period, Los Angeles-based direct marketer reports in analysts call April 26. U.S. retail sales fall almost 11% to $109.8 mil. Worldwide net sales also down 13% to $399.7 mil., which Herbalife attributes to volume declines in the Asia/Pacific Rim region and foreign currency fluctuations. Net income reached $8.6 mil., up 46% from 2000 first quarter, when the company took a one-time, pre-tax charge of $9.5 mil
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Herbalife execs' dual responsibilities as directors of the firm and trustees in the estate of its founder could produce "serious conflicts of interest," two investment groups charge in a July 24 letter to the board.
Herbalife Management Conflicts Of Interest Questioned By Investment Groups
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