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    Song Xue • D.A. Davidson

    Song Xue's questions to USANA Health Sciences Inc (USNA) leadership

    Song Xue's questions to USANA Health Sciences Inc (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 Inc (NUS) leadership

    Song Xue's questions to NU Skin Enterprises Inc (NUS) leadership • Q4 2024

    Question

    Song Xue asked which specific markets are expected to return to growth in 2025 and what the primary catalysts are for this recovery. She also followed up with a question about the sales performance on the Amazon platform in the U.S.

    Answer

    Executive Ryan Napierski identified Latin America, Southeast Asia Pacific, and Japan as key areas with growth potential. Executive James Thomas added that the company is deploying its successful developing market strategy in Southeast Asia and parts of Europe. Regarding Amazon, Ryan Napierski described it as a successful dual-benefit strategy that protects the brand's premium image by limiting unauthorized resellers while providing consumers with an accessible purchasing channel, which in turn supports the company's affiliates.

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