Hot Business News Today

Hot Business News Today

China’s Tiens Group makes $1.16 billion in 2014

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Chinese Direct Selling giant Tiens Group is treating more than half of its 12,000 employees to a four-day holiday in France and has booked up 140 hotels in the capital Paris as part of the package.
Tiens Chairman Li Jinyuan is leading the 6,400 strong group which includes a mass visit to the Louvre museum and they are expected to spend 13 million euros (US$15 million) in total. The 57-year-old Li Jinyuan is listed on Forbes’ billionaires list.
In China, Tiens sells its products through some 100 branch offices and chain stores of affiliate Tianshi Engineering. Outside of China, it sells products through independent distributors through subsidiary Tianshi International and majority-owned Tiens Biotech Group USA Inc.
Tiens was ranked No.15 on the DSN Global 100 list with revenues of 1.16 billion in 2014.
 

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Medifast Q1 revenues down 7% to 73.4 million

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Medifast, Inc. (NYSE: MED), a leading United States manufacturer and provider of clinically proven weight-loss and healthy living products and programs, today reported financial results for the first quarter ended March 31, 2015.
For the first quarter, Medifast net revenue from continuing operations decreased 7% to $73.4 million from net revenue of $79.2 million in the first quarter of 2014.

“We are pleased to get off to a good start this year by exceeding our first quarter top and bottom line guidance,” said Michael C. MacDonald, Medifast Chairman and Chief Executive Officer. “We continue to execute well operationally while putting the plans in place to advance our three key strategic priorities; to grow and simplify Take Shape For Life, optimize Medifast Direct revenues and deliver product and program innovation.  We are very focused on returning to a growth trajectory in 2015

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Jewery Co Silpada Expands into Accessories

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Silpada, a leading jewelry direct sales company with a rich heritage of handcrafted designs, has announced the launch of it’s first-ever accessories collection this fall. Best known for its .925 Sterling Silver Collection and brass-based K & R Collection, Silpada is a family-owned business that strives to empower women through one-of-a-kind jewelry and unique opportunities for fashion entrepreneurship.
Beginning July 16, 2015, Silpada will expand its product portfolio by offering a variety of handbags, wallets and scarves.

“We’re thrilled to enter a new category and give women even more reasons to feel beautiful,” said Co-Chief Executive Officers Kelsey Perry and Ryane Delka. “The expansion into accessories is a natural fit that will help us achieve our goals of expanding Silpada’s reach and empowering more women to build lives they deserve.”

Inspired by world travels and global trends, Silpada’s 2015 Fall/Winter Collection tells the story of The New West and can be worn

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LifeVantage Q3 Revenues $43 Million

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LifeVantage Corporation (Nasdaq:LFVN) today reported financial results for its third quarter and nine months ended March 31, 2015.
Third Quarter Fiscal 2015 Highlights:

Revenue was $45 million compared to $55 million in the prior year period;
Revenue in the Americas increased by 1% compared to the prior year period;
Adjusted EBITDA was $3.3 million, compared to $5.7 million in the prior year period;
Identified annual cost structure savings of approximately $4 million.

Dave S. Manovich, Executive Vice Chairman of LifeVantage stated, “We are very pleased with our recently announced appointment of Darren Jensen as our next President and Chief Executive Officer. Throughout the transition to a new CEO, we have focused on taking the necessary steps to help us reignite top and bottom line growth. We have identified approximately $4 million in annual cost reductions.  Approximately $1.3 million

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