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Hot Business News Today

Avon Products’ Rating Cut To Junk By S&P

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Standard & Poor’s Ratings Services on Monday cut beauty products direct seller Avon Products Inc. corporate rating to junk, citing the company’s slower-than-expected progress to improve business and weak results, particularly in the U.S. and Brazil.

“Some of the company’s issues are deeper than we anticipated,” S&P said, cutting Avon’s corporate rating to double-B-plus, one notch below investment grade. While the company has a good geographic diversity, the rating agency said, “it will take time to re-engage its active representatives and rebuild sales growth.”

S&P, however, kept the company’s outlook at stable, signaling an expected improvement.
Founded in 1886 by David H. McConnell, a traveling book salesman, Avon became known for a growing sales force of women—the Avon Ladies—and its trademark “Avon calling!” But the New York-based company has been struggling to grow sales and attract and retain sales representatives.
Avon, which in July reported another quarter of disappointing sales and lower profits but said its U.K. market had reported the first quarter of sales growth since 2010, is the midst of a multiyear restructuring plan that the company is hoping will result in $400 million in savings.
About Avon
Everyday, Avon brings beauty to the lives of women all over the world. At Avon, beauty means finding the right lipstick

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Hot Business News Today

New 5 Year Agreement For Lyoness Open

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The Lyoness Open will feature in The Race to Dubai until at least 2019 following a new five year agreement between The European Tour, title sponsor Lyoness and promoter Golf Open Event gmbh.
Next year marks the Austrian tournament’s tenth consecutive staging, having also previously been played each year between 1990 and 1996 when champions included Ryder Cup stars Bernhard Langer, Ronan Rafferty and Paul McGinley. 
As part of the new agreement, the prize fund for the 2015 tournament will be increased by 50 per cent, from €1,000,000 to €1,500,000. The tournament will return to Diamond Country Club, in Atzenbrugg, the host venue since 2010, which is a European Tour Destination as part of The European Tour’s Properties Network, from June 11-14, 2015.
This year, Sweden’s Mikael Lundberg denied home favourite and 2012 champion Bernd Wiesberger a second victory in three years, holing a 40ft birdie putt on the first play-off hole to claim the title. 
Keith Waters, The European Tour’s Chief Operating Officer and Director of International Policy, said: “Since returning the our International Schedule in 2006, the Lyoness Open has developed into an excellent tournament, and it has been an important and valued fixture on our Race to Dubai. 

“We are therefore delighted

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Hot Business News Today

ViSalus Honors National Childhood Obesity Awareness Month By Donating More Than 65,000 Kids Meals And Snacks Through PROJECT 10™ Kids

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To help kids begin their own journey to a healthier lifestyle, ViSalus, Inc. honored National Childhood Obesity Awareness Month this past September with a special double-donations initiative through their PROJECT 10™ Kids charity program. This double-donation incentive generated more than 65,000 kids meals and snacks donated to those in need.
PROJECT 10 Kids provides the Vi Community an opportunity to share the benefits of achieving a healthier weight with the next generation. When Vi Promoters and Customers lose 10 lbs. or add 10 lbs. of lean muscle during their PROJECT 10™ Challenge, the company donates 30 nutritional meals to a child in need through PROJECT 10 Kids.

“At ViSalus we have donated a total of over 4 million meals to families in need,” said Ryan Blair, Vi Co-Founder and CEO. “This includes over 65,000 as a result of our double-donations in September—the equivalent to over 2,000 kids meals and snacks a day.”   

Vi Regional Director, Gabriel Arellano, campaigned for the cause and biked 1,000 miles from Pueblo, Colorado to Houston, Texaswhere he attended Vitality, Vi’s 2014 global convention. “It’s a cause I am very passionate about, and it’s why I love our PROJECT 10 Kids program,” said Arellano. “ViSalus is doubling the 1,000-meal donation for the 1,000 miles I biked in September

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Vemma® Honored By The Academy Of Interactive And Visual Arts

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The Academy of Interactive and Visual Arts has announced the winners of the 2014 W3 Awards, honoring liquid nutrition company, Vemma with four awards. Vemma received Silver Awards for the Verve MoJoe™ micro siteVerveMoJoe.com, the Verve micro site Verve.com, the Vemma Instagram site, and the Vemma All In Convention App.

“So much of our branding and marketing efforts are funneled through web, social and mobile. I congratulate the Vemma team for having the creativity and technical skills to create these effective and award-winning interactive tools,” said Vemma EVP of Marketing and Brand Development, Mark Patterson.

The W3 Awards honors outstanding websites, web marketing, web video, mobile sites and Apps, as well as social content created by some of the best interactive agencies, designers and creators worldwide. This year’s competition received over 4,000 entries.
The awards are sanctioned and judged by the Academy of Interactive and Visual Arts, an invitation-only body consisting of top-tier professionals from a “Who’s Who” of acclaimed media, advertising and marketing firms.

“We were once again amazed with the high level of execution and creativity represented within this year’s group of entrants. Our winners continue to find innovative and forward thinking ways to push the boundaries of creativity in web design,” said Linda Day, the director

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Herbalife Reported 3rd Quarter Results, Sales Up 4%

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Herbalife Ltd. (NYSE: HLF) today reported third quarter net sales of $1.3 billion, reflecting an increase of 4 percent compared to the same period in 2013. Adjusted1 net income for the quarter was $125.1 million, or $1.45 per diluted share, compared to $152.1 million, or $1.41 per diluted share for the same period in 2013.
On a reported basis, the company announced third quarter net income of $11.2 million, or $0.13 per diluted share, compared to $142.0 million, or $1.32 per diluted share for the same period in 2013.
Third quarter 2014 reported net income was negatively impacted by $139.5 million in pre-tax charges, or $0.97 per diluted share after tax, related to the remeasurement of Venezuelan Bolivar denominated assets and liabilities at the SICAD I and SICAD II rates, and $17.5 million in pre-tax charges, or $0.13 per diluted share after tax related to a legal reserve.
For the quarter that ended September 30, 2014, the company generated $101.9 million net operating cash flow, and purchases of property, plant and equipment in the period were$34.5 million.

Michael Johnson, chairman and CEO stated, “In the quarter we saw volume increases in two-thirds of our 91 countries, especially Russia and China. Excluding the impact of currency translation in Venezuela, the company had solid increases in both volume and net sales.
We continue to

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It Works! To Recruit “Wrapreneur” Distributors In New Zealand

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Skin care and nutrition company, It Works!, has recently seen record-breaking growth. The company’s expansion into New Zealand represents the 19th country where It Works! will be distributing its popular products via its direct selling channel of “wrapreneurs” or Independent Distributors.

“We’re excited to share our exclusive product line and opportunity”
“We’re eager to welcome New Zealanders to our team and help spread black, green, and bling across the world,” said Mark Pentecost, It Works! CEO.

The company will formally launch New Zealand on 1 November with an event in Auckland led by Pam Sowder, Chief Networking Officer, for It Works!. The event is open to the public, who will be able to learn more about It Works! products and how to make extra income by sharing the flagship product, that crazy wrap thing.

“We’re excited to share our exclusive product line and opportunity,” said Janne Heimonen, newly appointed President of International Operations. “New Zealand will be a welcome addition to our expanding international operation.”

The company first expanded into Canada in 2009, then continued growing by entering Australia and select areas of Europe. It Works! plans for continued international expansion over the next five years.
About ItWorks!
Founded in 2001, It Works! is one of the fastest-growing skincare

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Hot Business News Today

Amway Opens New Experience Center In China

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Amway Corp, the world’s largest direct selling company, on Friday opened its first experiencecenter in Shanghai as part of its efforts to further expand its presence in China.
The company said the new center will play a big role in upgrading its image, branding andprovide more transparency and understanding in connecting with customers.
The center, located in the central business district of Shanghai and covering 7,500 squaremeters, was designed by architects from South Korea. It features high-tech and green-styleimmersion experiences of various business units of Amway.
The retailer plans to set up a similar center in Shenzhen in South China’s Guangdongprovince later this year and another one in Beijing next year. More centers could be opened inother big cities to upgrade the company’s traditional shops that mostly offer transactions withdistributors.
The next generation of Amway shops will be upgraded to serve as the branding, culture andcommunication unit of the company, it said.
Doug DeVos, president of Amway, who is slated to take over as the new president of theWorld Federation of Direct Selling Association next month, said his main agenda will be tomake the direct selling business more transparent and widespread.
About 50 direct selling companies have got licenses to conduct businesses in China andthere are growing expectations that they would soon be connected through an industryassociation.

He said the global direct selling industry has been growing steadily. “Our efforts would be topromote the industry, build transparency and make everybody understand the direct sellingbusiness,” said Devos.

Though direct selling is in essence a simple business, there are still lots ofmisunderstandings, said Devos, adding that companies must simplify their messaging andenhance innovation and creativity to further improve the quality of their products andcustomer experiences, especially in markets where direct selling is relatively new.
The Michigan, US-based company posted sales of about $11.8 billion last year.

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DubLi Celebrates More Vice President Promotions, Including Industry Legend; Sheri Sharman

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Jason Cardamone, USA, Aron and Cathy Parker, USA, Donald Haley, USA, ,Kameron George, Canada, and Sheri Sharman, USA who has been in the industry for over 25 years and recently came out of retirement to work with DubLi, all qualified at the VP level in the month of October.  
This adds to the growing list of new Vice Presidents for DubLi, which has seen a recent surge in distributor growth in the U.S., as opposed to their extreme customer growth, which has been their primary focus over the last few years. 
The Vice President level is a difficult level to reach, let alone accomplish it in one-two months. DubLi awards their VP’s with a property in the Cayman Islands (Grand Cayman) and at the next level, Senior Vice President, the award is a custom built, paid-for, home on that property. 
The Vice President level qualification is to have 5 separate legs that each have at least a Sales Director. 
DubLi is a cashback shopping network that offers three membership options; a free membership, monthly paid, or the yearly ‘VIP’ option. Depending on the level will reflect the cashback percentage. To become an independent sales distributor with DubLi the options start with a $500+ package. 
Only in recent years has DubLi moved to

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Blyth Reports 3rd Quarter Results, Decreased Profits Of 6%

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Blyth, Inc. (NYSE: BTH), a direct to consumer company and leading designer and marketer of candles and accessories for the home and health, wellness and beauty products, household convenience items and personalized gifts sold through the direct selling and direct marketing channels, today reported sales and earnings for the third quarter of 2014. 
Net sales for the three months ended September 30, 2014 decreased approximately 6% to $90.8 million from $97.0 million for the comparable prior year period.
Blyth’s operating loss for the third quarter was $11.4 million this year versus a loss of $11.5 million last year.  Net Earnings Attributable to Blyth, Inc. were $106.2 million for the three months ended September 30, 2014 compared to a loss of $8.5 million in the prior year period. Diluted Net Earnings per Share Attributable to Blyth, Inc. were $6.57 per share for the three months ended September 30, 2014 compared to a loss of $0.53 per share in the prior year period. 
During the third quarter, the Company recorded after-tax expenses of $0.04 per share related to the refinancing of its 6% Senior Notes and an after-tax profit from discontinued operations for ViSalus of $7.16 per share this year and $0.04 last year.  Normalized earnings from continuing operations were a loss of $9.0 million, or $0.55 per share, in this year’s third quarter versus a loss of $9.1 million, or $0.57 per share, in

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Herbalife To Settle Class Action Lawsuit, Denies Any Liability

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On October 31, 2014, global nutrition company, Herbalife Ltd. (NYSE:HLF) entered into a settlement agreement that, if approved by the court, will resolve a class action lawsuit against the company.
The company has been aggressively defending itself against the plaintiffs’ allegations set forth in Bostick v. Herbalife ever since the lawsuit was filed in 2013. Yet, the potential cost, as well as the distraction, disruption and burden of prolonged litigation on the company and its management team, led the company to decide that the terms set forth in the settlement agreement provided the best path for moving forward.
The company notes that the settlement does not contain an admission of liability or wrongdoing and still asserts that the suit has no merit. Additionally, the company notes that the plaintiffs’ counsel acknowledge that a finder of fact could reasonably conclude there is substantial demand for Herbalife product and Herbalife is not in violation of the law.
Mark Friedman, general counsel of Herbalife, stated:

“We are fully confident that we would have prevailed. Settling this matter, however, is in the company’s best interest as it allows us to put it behind us and focus on the future growth of the company.”

About Herbalife Ltd.
Herbalife Ltd. (NYSE:HLF)

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