Nature’s Sunshine Products, Inc. (NASDAQ: NATR) reported net sales of $91.7 million in the fourth quarter of 2019.
The decrease in sales—down 5.8 percent compared to $97.4 million in the fourth quarter of 2018—was, according to the company, primarily related to declines in Asia, North America, and Latin America and Other, partially offset by growth in Europe.
Net sales in the year ended December 31, 2019 decreased 0.7 percent to $362.2 million compared to $364.8 million in the year ended December 31, 2018. Net sales were also negatively impacted by $7.0 million of unfavorable foreign currency exchange rate fluctuations. On a local currency basis, net sales in 2019 increased 1.2 percent compared to 2018. The increase in local currency net sales was primarily related to continued growth in Asia and Europe, partially offset by a $5.9 million decline in North America, and a $1.8 million decline in Latin America and Other.
“I’m extremely pleased with the progress we made in 2019 on our global transformation,” said Terrence Moorehead, chief executive officer. “We spent the last half of the year focused on our Global Growth Strategy, creating a series of groundbreaking initiatives to strengthen our brand, improve field fundamentals, expand digital capabilities, extend our manufacturing leadership, and enhance our organization capabilities.”
“In 2020, our plan is to accelerate our global strategies while remaining focused on driving costs out of the business to deliver further profit improvements,” continued Moorehead. “In the coming months, we anticipate delivering a new and significantly improved distributor and customer experience. This includes the launch of exciting new branding, a new consumer-centric website and e-commerce platform, new digital tools and the launch of additional products within our line of hemp-derived CBD products.”
To read the complete Nature’s Sunshine Q4 2019 report, click here.