FBI Delves Into Dubious Bid For Avon – Wall Street Journal reports the FBI, SEC and U.K. Officials have luanched investigations into the bogus bid filed with the SEC to take over Avon.
NuSkin Facing SEC Probe Due to China Operations – Natural Products Insider reports Nu Skin learned in April that the SEC was investigating certain aspects of its operations in China, specifically regarding a charitable donation Nu Skin made in 2013 and related issues, the multi-level marketer (MLM) disclosed last week in a regulatory filing.
CVSL Reports Decline In 1st Quarter Results – “Our reported results were in line with the Company’s expectations, said John Rochon Jr., CVSL’s vice chairman and chief financial officer.” Reported revenue was primarily influenced by the ongoing turnaround process at The Longaberger Company. One of our strategies at Longaberger is to get away from excessive discounting, which we believe weakens the brand and ultimately hurts the income of our sales force. Another is to stop the company’s ill-conceived strategy of competing with its own sales force by selling at a discount through outlet mall stores. While these actions have a negative short term effect on revenue, we believe they make the company healthier and more appealing as an earning opportunity in the long run. The West Coast dockworkers’ strike also caused some disruption at Longaberger this quarter, but now we have products flowing more quickly through the supply chain and we’ve reduced back orders.
Youngevity Reports 39% Increase In 1st Quarter Revenues – For the three months ended March 31, 2015, the Company reported revenue of $36.8 million, compared to $26.4 million in 2014, a 39.4% increase whereby 86% of our revenue was derived from our direct sales segment and approximately 14% of our revenue from our commercial coffee segment.
DSA Awards Isagenix With Two Premier Awards – DSA congratulates all 2015 Ethos Award sub-category winners for their outstanding accomplishments and contributions to direct selling,” says DSA President Joseph Mariano. “These programs are excellent examples of the creativity and innovation that continue to drive our industry.”