Herbalife Q2 sales surge in North America, Asia Pac
North American sales grew 21%, Asia-Pacific sales grew 25% (34% in local currency) and Chinese sales surged by 50% (46% in local currency). Local currency net sales in South and Central America increased 30%.
Revenue growth in Europe, Middle East and Africa was flat (but local currency net sales increased 11%).
The share price
LA-based Herbalife has been aggressively repurchasing shares during the quarter, but its share price has not yet fully recovered from a slump in April prompted by questions from hedge fund manager David Einhorn about its distributor model.
Manufacturing
Asked about operational developments, chief finance officer John DeSimone said bosses are looking for a additional facility on the East Coast of the US to support growth, while the new extraction facility n China was "ramping up".
He added: "It will continue to ramp up throughout the rest of this year, and I think we should have a good update for you maybe next quarter. 100% of our botanical extraction ingredients will come from that facility."