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.
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."