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    Song Xue

    Senior Equity Research Analyst at D.A. Davidson & Co.

    Song Xue is a Senior Equity Research Analyst at D.A. Davidson & Co., specializing in technology sector coverage, with a focus on companies in the software, IT services, and communications industries. He covers prominent names such as Microsoft, Salesforce, and ServiceNow, delivering a research track record that reflects consistent outperformance, including a TipRanks success rate of approximately 67% and an average annualized return of over 10% on rated stocks. Song began his investment research career in 2013 and, before joining D.A. Davidson in 2018, held analyst roles at firms including Jefferies and JMP Securities. He holds FINRA Series 7, 63, 86, and 87 licenses, and is recognized for his insightful industry knowledge and timely investment calls.

    Song Xue's questions to USANA HEALTH SCIENCES (USNA) leadership

    Song Xue's questions to USANA HEALTH SCIENCES (USNA) leadership • Q4 2024

    Question

    Song Xue asked about the continuation of promotional activity in North America, the impact of new incentive programs on associate expenses in 2025, and the drivers behind the recent increase in SG&A as a percentage of sales, including the outlook for leverage.

    Answer

    CCO Brent Neidig confirmed that an aggressive promotional cadence will continue in 2025 across all markets, leading up to a new incentive offering in the second half of the year. CFO Doug Hekking and CEO Jim Brown affirmed that new incentives will impact the incentive line, layered into the forecast. Hekking explained the higher SG&A was influenced by the Hiya acquisition's different cost structure, negative currency exchange rates, and that the mix effect from Hiya will be more pronounced in 2025.

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    Song Xue's questions to NU SKIN ENTERPRISES (NUS) leadership

    Song Xue's questions to NU SKIN ENTERPRISES (NUS) leadership • Q4 2024

    Question

    Song Xue from D.A. Davidson & Co. asked which markets are expected to return to growth in 2025 and their catalysts, and also inquired about the sales performance on the Amazon U.S. platform.

    Answer

    Ryan Napierski (executive) and James Thomas (executive) identified Latin America, Southeast Asia Pacific, and Japan as key potential growth areas, driven by a 'developing market strategy' focused on optimized pricing. Regarding Amazon, Napierski explained the platform is used to protect brand image by limiting unauthorized resellers and to provide consumer access, noting the strategy is working as intended without disclosing specific sales figures.

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    Song Xue's questions to LIFETIME BRANDS (LCUT) leadership

    Song Xue's questions to LIFETIME BRANDS (LCUT) leadership • Q3 2024

    Question

    Song Xue, on for Linda Bolton-Weiser, asked for clarification on the timing of the delayed $4 million shipment and questioned how retailers are accepting the new commercial food product line given market softness.

    Answer

    Executive Robert Kay clarified that the $4 million shipment delay for the Dolly Parton program is a shift from Q4 2024 to Q1 2025 at the direction of Dollar General, which is experiencing market softness. Regarding the foodservice business, he explained that the entire industry is down, causing clients to delay capital spending. However, Lifetime is gaining share with new listings that are expected to ship in 2025. He also noted the new Royal Leerdam and ONIS product lines were delayed from a Q4 2024 to a Q1 2025 launch due to logistical and operational integration requirements.

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