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Herbalife International Inc

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CALIFORNIA | LOCAL
May 22, 2000 | DOUGLAS P. SHUIT, TIMES STAFF WRITER
Mark Reynolds Hughes, the wealthy 44-year-old founder of Herbalife International Inc., was found dead in his Malibu beachfront mansion Sunday morning, apparently of natural causes, a sheriff's spokesman said. Hughes, enmeshed recently in a struggle for ownership of his weight-loss and nutritional products company, was reported to have died at 11:02 a.m. at his $25-million Malibu estate at 33064 Pacific Coast Highway.
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BUSINESS
February 25, 2009 | TIMES WIRE REPORTS
Herbalife Ltd., a maker of nutritional and weight-loss supplements, said profit fell 38% in the fourth quarter as sales declined and administrative expenses rose. The Century City company's earnings declined to $33.7 million, or 53 cents a share, from $53.8 million, or 77 cents, a year earlier. In December, Herbalife said it would cut 6% of its workforce and restructure its business to help cope with the economic downturn. Excluding restructuring costs and other one-time items, earnings totaled $43.4 million, or 69 cents a share, in the latest period.
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BUSINESS
October 30, 2001
Herbalife International Inc., which sells weight-loss and nutritional products, named Francis Tirelli, Herbalife board member and chief operating officer of MyCFO Inc., as its chief executive officer.
BUSINESS
November 7, 2007
Herbalife Ltd. said it posted an 83% increase in third-quarter profit, helped by lower interest costs and higher operating margins, and forecast fourth-quarter earnings above Wall Street estimates. The company, which sells weight-loss and nutritional supplements, posted third-quarter net income of $48.3 million, or 67 cents a share, compared with $26.5 million, or 36 cents, a year earlier. Sales rose 11% to $529.5 million.
BUSINESS
February 22, 2006
Herbalife International Inc., a weight-loss program and snack company, said it swung to a fourth-quarter profit on higher-than-expected sales. Inglewood-based Herbalife posted earnings of $30 million, or 41 cents a share, reversing a year-earlier loss of $37.4 million, or 68 cents. Sales grew 20% to $409 million.
BUSINESS
December 20, 2000 | JERRY HIRSCH, TIMES STAFF WRITER
The death of Herbalife International founder Mark Hughes in May following a drinking binge has triggered a series of bizarre allegations about the key executives who helped the charismatic salesman build one of the nation's biggest dietary supplement sellers. Since Hughes' death at age 44, lawsuits between the executives within his closest circle expose a tale of revenge, an executive with a shoplifting arrest and sexual harassment allegations.
BUSINESS
July 6, 1995 | Times Staff and Wire Reports
Herbalife Splits Management Into 4 Divisions: Inglewood-based Herbalife International Inc. also said it eliminated the position of chief operating officer. The seller of weight-control products and dietary supplements said former COO Norman E. Friedmann has left. The divisions will be led by Christopher Pair, executive vice president of international and corporate administration; Michael E. Rosen, executive vice president of corporate development; J.
CALIFORNIA | LOCAL
January 19, 2001 | From Associated Press
The widow of Herbalife founder Mark Hughes will receive $20 million as part of a settlement. Darcy LaPier Hughes, a 35-year-old former Hawaiian Tropic model, will receive $19 million from Hughes' estate and another $1 million when she moves out of the couple's 2.5-acre estate in Beverly Hills, Superior Court Judge Gary Klausner ruled Wednesday. Hughes died last May at age 44 from an accidental combination of the antidepressant doxepin and alcohol, according to toxicology tests.
BUSINESS
April 15, 2000 | Bloomberg News
Herbalife International Inc., a seller of weight-loss and nutritional products, said it will take a first-quarter charge of between $8.5 million and $10.5 million from expenses related to a failed buyout by founder Mark Hughes. Hughes, who is also chairman and chief executive, said Monday he was withdrawing his $510-million offer for the company because of difficulties in arranging financing. Los Angeles-based Herbalife said the exact amount of the charge hasn't been determined. It earned $11.
BUSINESS
October 13, 2007 | Marla Dickerson and Daniel Yi, Times Staff Writers
Zacatecas, Mexico Selling pricey diet-shake mixes in a developing country wouldn't seem like a very smart business idea, but Enrique Varela was despairing. Eighteen years ago, his animal-feed business was struggling. He was thousands of dollars in debt. Today, he and his wife own a fleet of luxury cars, four ranches and eight houses -- including a custom-built home with an elevator and a cupola-covered hot tub overlooking a golf course in this central Mexican city.
BUSINESS
August 7, 2007 | From Times Wire Services
Herbalife Ltd., which sells nutritional supplements and other weight management products, said Monday that its second-quarter earnings rose 32%, helped by sales in North America and China. Net income rose to $48.1 million, or 65 cents a share, from $36.3 million, or 49 cents, a year earlier, the company said. Excluding a tax settlement, net income was 64 cents a share. Revenue rose 14% to $530.1 million from $466 million last year.
BUSINESS
May 25, 2007 | From Times wire services
Herbalife Ltd., a seller of nutritional and weight-loss supplements, said Chairman Peter Castleman had resigned to focus on other business activities. Chief Executive Michael O. Johnson has assumed the post. Board member David Halbert also resigned, Century City-based Herbalife said.
BUSINESS
March 31, 2007 | Daniel Yi, Times Staff Writer
An investment group whose bid for Century City-based Herbalife Ltd. was rejected said Friday that it was withdrawing the $2.7-billion offer -- and that it might sell the Herbalife shares it owns or buy some more. J.H. Whitney & Co., which owns about a quarter of Herbalife's shares, said in a letter to Herbalife's board that it was disappointed by the rejection. The letter warned that "depending on developments," New Canaan, Conn.-based Whitney "may engage in sales or purchases of shares."
SPORTS
March 24, 2007 | Greg Johnson, Times Staff Writer
Rugby players serve as human billboards. So do cricket players, most of the world's best-known soccer stars and athletes who play the NFL's European brand of football. And, now that the Galaxy is selling space on its Major League Soccer jerseys to Herbalife, the question is whether baseball, basketball, football and hockey are any closer to making room on their jerseys for advertisers. "As soon as it pencils out financially and is deemed acceptable by fans ...
SPORTS
March 23, 2007 | Grahame L. Jones, Times Staff Writer
Two months after acquiring David Beckham, the Galaxy has signed a multiyear, multimillion-dollar sponsorship agreement with nutritional products manufacturer Herbalife. The deal gives the direct-sales company the right to splash its name across the front of the Galaxy jersey and makes the Galaxy the second team in Major League Soccer to take advantage of the league's new shirt-sponsorship rules.
BUSINESS
September 2, 1998 | Bloomberg News
Herbalife International Inc., a dietary food and supplement marketer, said it will take a $5-million third-quarter charge to increase its accounting reserves as economic and political turmoil in Russia is expected to cause a "substantial" decline in sales in that country. Herbalife, which reported 1997 sales of about $1.49 billion, derived nearly 8% of its second-quarter sales from Russia.
BUSINESS
September 27, 2000 | Times Staff and Wire Reports
The majority shareholder in Herbalife International Inc. rejected a $172.7-million offer by Rbid.com Inc. to buy its shares in the Los Angeles dietary products distributor. Less than 24 hours after the buyout bid was made public, the Mark Hughes Family Trust said in a news release that "various factors led to the conclusion that the proposal did not warrant discussion or negotiation."
BUSINESS
February 6, 2007 | From Bloomberg News
Shares of Herbalife Ltd., which sells dietary and weight-loss supplements, rose above the $38-a-share offer by private-equity firm Whitney & Co., its largest shareholder. The shares rose $7.02, or 21%, to $40.12. Whitney's offer, disclosed late Friday, was 15% more than the closing price of Herbalife shares that day and valued the company at $2.7 billion. The company is based on Grand Cayman Island but has its headquarters in Los Angeles. The cash takeover bid by New Canaan, Conn.
BUSINESS
January 6, 2007 | Daniel Yi, Times Staff Writer
A 24% plunge in Herbalife Ltd.'s stock Friday, after the supplement maker's announcement that it expected slower sales growth in Mexico, illustrates the rising importance of foreign markets to the bottom line of U.S. direct-sales companies. Direct-sales or multilevel marketing has been used for decades to peddle goods as diverse as plastic containers and cosmetics.
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