Herbalife's 10.3% Slump Tracks With Full-Year Guidance But Light Seen At The End Of 2022
Herbalife reported a double digit decrease in net sales during its second quarter, following similar results in the first quarter. The direct seller also plans to launch its digital platform Herbalife One to connect distributers and consumers and promote sales.
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Herbalife announced Michael Johnson as chairman and interim CEO, replacing John Agwunobi, about 90 minutes before it announced a 9.5% decrease in Q3 net sales to $1.3bn. Its reported net income was $82.2m, down nearly 21%.