0001021561-14-000004.txt : 20140121 0001021561-14-000004.hdr.sgml : 20140120 20140121073227 ACCESSION NUMBER: 0001021561-14-000004 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20140121 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20140121 DATE AS OF CHANGE: 20140121 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NU SKIN ENTERPRISES INC CENTRAL INDEX KEY: 0001021561 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-DRUGS PROPRIETARIES & DRUGGISTS' SUNDRIES [5122] IRS NUMBER: 870565309 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-12421 FILM NUMBER: 14536675 BUSINESS ADDRESS: STREET 1: 75 WEST CENTER ST STREET 2: ATTN: D. MATTHEW DORNY CITY: PROVO STATE: UT ZIP: 84601 BUSINESS PHONE: 801-345-6100 MAIL ADDRESS: STREET 1: 75 WEST CENTER ST STREET 2: ATTN: D. MATTHEW DORNY CITY: PROVO STATE: UT ZIP: 84601 FORMER COMPANY: FORMER CONFORMED NAME: NU SKIN ASIA PACIFIC INC DATE OF NAME CHANGE: 19960919 8-K 1 release8k.htm 8-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 
January 21, 2014
 
 
Date of Report (Date of earliest event reported)
 
 
 
NU SKIN ENTERPRISES, INC.
 
 
(Exact name of registrant as specified in its charter)
 
 
Delaware
 
001-12421
 
87-0565309
(State or other jurisdiction of incorporation)
 
(Commission File Number)
 
 
(IRS Employer Identification Number)
 
75 West Center Street
Provo, UT 84601
 
 
(Address of principal executive offices and zip code)
 
 
 
(801) 345-1000
 
 
(Registrant's telephone number, including area code)
 
 
 
N/A
 
 
(Former name or former address, if changed since last report)
 
 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4 (c))


Item 7.01 Regulation FD Disclosure.

Nu Skin Enterprises, Inc. (the "Company") today released a letter to its customers in China, to outline voluntary measures the Company is taking in China to reassure relevant authorities, demonstrate commitment to its policies, and enhance the long-term stability of its operations. While the Company implements these measures, its existing sales force will continue to sell products to new and existing customers in China. The Company plans to provide an update regarding the status of these measures in connection with the Company's previously scheduled earnings release on Feb. 6.

A copy of the letter is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

The information in this Item 7.01 is being furnished, not filed, pursuant to Regulation FD. Accordingly, such information will not be incorporated by reference into any registration statement filed by the Company under the Securities Act of 1933, as amended, unless specifically identified therein as being incorporated therein by reference. The furnishing of such information is not intended to, and does not, constitute a determination or admission by the Company as to the materiality of such information. Such information contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 that represent the Company's current expectations and beliefs. Examples of these forward looking statements include, but are not limited to, statements relating to (1) our intent to provide additional training to our employees, (2) our intent to temporarily suspend business promotional meetings and acceptance of applications for any new sales people or direct sellers in China and (3) the planned extension of our product return policies in China. The forward-looking statements and related assumptions involve risks and uncertainties that could cause actual results and outcomes to differ materially from any forward-looking statements or views expressed therein. We cannot, for example, provide assurances relating to the adequacy of these voluntary actions or their impact on our business or results of operations. For a detailed discussion of other risks and uncertainties relating to these forward looking statements, please see the documents filed by the Company with the Securities and Exchange Commission. The forward-looking statements set forth the Company's beliefs as of the date that such information was first provided, and the Company assumes no duty to update the forward-looking statements to reflect any change except as required by law.

Item 9.01.                          Financial Statements and Exhibits.

(d) Exhibits.

99.1            Letter dated January 21, 2014.
 

SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
NU SKIN ENTERPRISES, INC.
(Registrant)

/s/ Ritch N. Wood
Ritch N. Wood
Chief Financial Officer


Date:  January 21, 2014
 



EXHIBIT INDEX

Exhibit No.                                                                                    Exhibit Description
99.1 Letter dated January 21, 2014.
EX-99.1 2 ex99-1.htm RELEASE BY NU SKIN CHINA DATED JANUARY 21, 2014



致关心如新中国的消费者及社会各界:

如新致力于在中国长期健康稳定的发展,一直积极配合政府,坚持依法经营,维护消费者权益。对于近日来媒体有关如新中国的报导高度重视,我们感谢媒体的善意批评与监督,并在第一时间开展了深刻的反思和检讨。

通过初步检讨,我们对于在公司近期快速成长期间,出现了个别销售人员没有完全遵守及执行公司的政策及规定的情况感到失望。我们对这些令人遗憾及未经许可开展的活动表示衷心歉意。我们将对我们的行政员工和销售人员的业务操作进行内部检查,并全心全意采取纠正措施。

同时,我们会提供更多培训以加强贯彻公司现有的规范政策,其中包括禁止下列行为:

1)
 利用公众人物或媒体报告作错误宣导;

2)夸大宣称产品功效;

3)
 不当描述如新在华的独特经营模式,与公司其他市场的经营模式混淆。

对这些行为给社会公众造成的影响,我们表示诚挚的歉意,并希望社会各界及媒体能给我们一个改进的机会,以期强化我们的规章制度,巩固健全监督机制,加强我们对优质服务的承诺。

为配合有关部门的工作,展现我们对政策的承诺,巩固长期稳健的经营,我们决定从即日起主动在中国采取以下措施:

1)
加强对销售人员相关法律法规的教育培训;

2)
为集中更多资源用于教育培训,我们将暂停所有业务推广会议,并同时暂停接受任何新销售人员及直销员的申请;

3)
为强化对消费者的承诺,我们将扩展现有直销产品退换货政策,以同时涵盖通过我们零售渠道购买的直销和非直销产品。

本着对社会公众负责的态度,我们将持续与有关政府部门积极沟通,汇报上述措施的实施情况。同时配合政府有关部门的核查工作,对于任何违规的个人和行为,一经发现,我们将按公司政策进行处理。
 
通过反思和自查,我们认识到维护相关政府部门和社会大众的信任非常重要。如新中国再次承诺,将一如既往在中国依法合规经营。 

在有关部门的监督与检查,和与社会公众充分沟通的基础上,我们期待凭借持续稳健的成长,回报社会各界对如新的信任。


Dear consumers and everyone who cares about Nu Skin China,

Nu Skin is dedicated to maintaining a healthy and stable long-term development in China, and has always actively cooperated with the government. We are committed to operating our business in compliance with the laws and protecting the rights of consumers.  We take seriously the recent media reports about Nu Skin China. We appreciate the media giving us constructive criticism and guidance, and have immediately made a profound reflection and self-examination.

As part of our initial review, we were disappointed to learn that during our recent rapid growth, there were instances where some of our sales people failed to adequately follow and enforce our policies and regulations. We sincerely apologize for these unfortunate and unauthorized activities. We are undertaking an internal review of the practices of our employees and sales force, and fully intend to take corrective actions.

We will also provide additional training to reinforce our existing policies which, among other things, prohibit:

1)
inaccurately attributing endorsements to public figures or media reports;

2)
exaggerated product claims; and

3)
improper descriptions of Nu Skin's distinct business model in China that confuse it with Nu Skin's business model in other markets.

We express our sincere apologies to the public for any impact that this has caused, and we hope that the public and the media will give us an opportunity to improve ourselves in order to reinforce our policies and procedures, enhance a sound supervision system, and enhance our commitment to excellent customer service.

Effective immediately, we have voluntarily decided to take the following measures in China in order to cooperate with the relevant authorities, demonstrate our commitment to our policies, and enhance the long term stability of our operations:

1)
reinforce training and education for sales persons on relevant laws and regulations;

2)
to focus additional resources on training and education, we will temporarily suspend all business promotional meetings, and at the same time temporarily suspend accepting applications for any new sales people and direct sellers; and

3)
to strengthen our commitment to consumers, we will extend our current direct selling product refund policy to cover both our direct selling and non-direct selling products sold through our company's retail channel.

We will continue to undertake our responsibilities to the public, actively communicate with the relevant government authorities, and report to them on the implementation of the above-mentioned measures.  At the same time, in order to cooperate with the verification by the relevant government departments, if any individual or any behavior has been found to be in violation of regulations, the Company will take actions in accordance with the Company's policies.

After reflection and self-examination, we recognize the importance of maintaining the trust and confidence of relevant authorities and the public.  Nu Skin China reaffirms its commitment to conduct business in China in compliance with applicable laws and regulations.

We look forward to our continued success in China under the supervision and inspection by the relevant authorities and open dialogue with the public in order to ensure healthy and sustainable growth and to warrant the public's trust of Nu Skin.