This move is part of a larger strategy by the company to simplify operations. The company stated that “the vast majority of Natura &Co trading activity is concentrated on the B3 stock exchange” and that the decreasing trading volume on the NYSE no longer makes it a “compelling option.” 

“The planned delisting of Natura &Co from the New York Stock Exchange is consistent with our long-term strategy for the business,” said Fabio Barbosa, Natura &Co Chief Executive Officer. “This move underscores our continued focus on simplifying our operations to reduce complexity. We thank Natura &Co investors who held ADRs and look forward to welcoming many of them as shareholders on the B3 market. Upholding our dedication to transparency, we will maintain our high disclosure standards through our listing in Brazil.” 

Natura &Co’s delisting is expected to go into effect next month. 

The post Natura &Co Delists from NYSE   first appeared on Direct Selling News.

Per the filing: “On October 3, 2023 the Company received approval of its Extension Request from the NYSE’s Listings Operations Committee, subject to reassessment on an ongoing basis. In connection with the approval of the Extension Request, NYSE has stated that it is prepared to continue the listing of the Company at this time and will closely monitor the Company’s progress of the Delayed Filings with the milestones and timing outlined in the Extension Request. Failure to achieve these interim milestones could result in accelerated trading suspension prior to the end of six month cure period on March 31, 2024.”

This gives Tupperware an additional six months to regain compliance and reassure investors. In August 2023, the company did take a step toward this when they restructured their debt.

The post NYSE Grants Tupperware’s Compliance Extension Request first appeared on Direct Selling News.

“We spent the past few months talking to our shareholders and potential investors, and the conclusion is pretty clear: the U.S. listing makes sense strategically, but maybe timing isn’t right,” said Chief Executive Officer Roberto Marques. “We’ll assess the appropriate moment to resume it.” 

The post Natura &Co Delays NYSE listing first appeared on Direct Selling News.

The company’s third quarter efforts continued its advances on key strategic initiatives to fuel future growth, including the implementation of Avon’s new commercial model and an acceleration in digital tools. For the first time in five years, Avon’s total sales showed a 10.7% growth in the first nine months of the year compared to the same period last year.  

Natura &Co Group also announced the launch of a share repurchase plan of up to R$ 1.5 billion and is in the process of evaluating a switch to the NYSE while maintaining a dual listing with the Brazilian Depositary Receipts (BDRs). 

“Despite a very tough comparable vs last year, when we grew over 20%, and some persistent external headwinds related to the global pandemic, Natura &Co continues to progress on its key initiatives, attesting to the underlying strength of our business,” said Roberto Marques, Executive Chairman and Group CEO. “We again outperformed the global Cosmetics, Toiletries and Fragrances market on a year-to-date basis and versus pre-pandemic levels, all our brands and businesses posted growth over nine months and the Group’s digitalization continued to advance. We also made major headway on the integration of Avon. With a further roll-out of Avon’s new commercial model, continued deployment of social selling tools at Natura, new conversions to The Body Shop’s new store concept and preparations for an entry onto the Chinese market at Aesop well underway, we have a number of initiatives to fuel growth in 2022 and beyond.” 

Net revenue was up 14.4% (R$28.5 billion) over the first nine months of the year, with an adjusted EBITDA margin of 9.1%. Net income reached R$352.6 million, which reversed a loss from the same period last year of R$827.6 million. 

Consolidated net revenue in the third quarter was down 4.2% to R$9.5 billion, which reflected a record-high comparable base.  

Online sales and social selling accounted for 52% of the company’s total revenue. 

Avon International’s net revenue decreased 14.3% in the third quarter, but was up 6.3% in the first nine months. Online sales for the company were also up 19%. Adjusted EBITDA margin was 3.9% in the third quarter. 

Net revenue for The Body Shop was up 0.4% in the third quarter and 20.6% in the first nine months. Online and at-home channels remain twice as high as pre-pandemic levels. Third quarter EBITDA margin was 18%. 

The post Natura &Co Reports Slight Decline in Q3 first appeared on Direct Selling News.

The Council is comprised of 13 Founding Member CEOs from some of the world’s largest and most well-established brands, including Avon’s CEO Jan Zijderveld.

“Diversity is critical to success—it opens up creative thinking, brings fresh perspectives and ignites new ways of working,” said Zijderveld. “Diversity improves business performance. I’m delighted to be part of the NYSE Board Advisory Council. Avon has a strong track record in creating opportunities for women’s economic participation, but there is always more to do, and I look forward to working with the other board members to continue to shift the dial on diversity in all its forms. This is really important work as we seek to go even further in opening up more opportunities for more talent, ultimately helping more businesses to thrive.”

“It’s incredible to see CEOs of our NYSE community come together on this mission and join the NYSE Board Advisory Council,” said NYSE Executive Vice Chairman and Co-Chair of the Council, Betty Liu. “Board recruiting can be a difficult, time-consuming activity. At the same time, getting placed on a board can seem like a mysterious process where you need to know the right people. With the formation of this Council, we hope to smooth and accelerate this process for our NYSE community, while at the same time directly addressing the need for more diversity on corporate boards. I believe we’ll make a meaningful impact on creating a more inclusive future.”

Founding members of the NYSE Board Advisory Council are:

• Avon Products, Inc. (NYSE: AVP) Chief Executive Officer and member of the Board of Directors, Jan Zijderveld
• American Water Works Company, Inc. (NYSE: AWK) President and Chief Executive Officer, Susan Story
• Care.com, Inc. (NYSE: CRCM) Founder, Chairwoman and Chief Executive Officer, Sheila Lirio Marcelo
• The Container Store Group, Inc. (NYSE: TCS) Chief Executive Officer, Melissa Reiff
• The Coca-Cola Company (NYSE: KO), Chairman and Chief Executive Officer, James Quincey
• The Hertz Corporation (NYSE: HTZ), President and Chief Executive Officer, Kathryn Marinello
• Johnson & Johnson (NYSE: JNJ) Chairman and Chief Executive Officer, Alex Gorsky
• Merck & Co., Inc. (NYSE: MRK) Chairman and Chief Executive Officer, Kenneth C. Frazier
• MSCI Inc. (NYSE: MSCI) Chairman and Chief Executive Officer, Henry Fernandez
• Procter & Gamble Company (NYSE: PG) Chairman, President and Chief Executive Officer, David Taylor
• Rent the Runway Co-Founder and Chief Executive Officer, Jennifer Hyman
• Slack Technologies, Inc. (NYSE: WORK) Co-Founder and Chief Executive Officer, Stewart Butterfield
• State Street Global Advisors, the asset management business of State Street Corporation (NYSE: STT), President and Chief Executive Officer, Cyrus Taraporevala
• Twilio Inc. (NYSE: TWLO) Chief Executive Officer and Co-Founder, Jeff Lawson

The Council will be led by former Commissioner of the U.S. Commodity Futures Trading Commission (CFTC) and Seneca Women partner, Sharon Bowen and Duriya Farooqui, both Board Members of Intercontinental Exchange, as well as Liu.

The post Avon’s Zijderveld Named Founding Member of NYSE Board Advisory Council to Advance Board Diversity first appeared on Direct Selling News.

The closing price of Herbalife’s common shares on the New York Stock Exchange on April 17, 2018, the last full trading day before the commencement of the tender offer, was $103.02 per share. The tender offer is scheduled to expire at 5 p.m. EST, on May 16, 2018, unless the offer is extended.

The Los Angeles-based company believes that the repurchase of shares pursuant to the tender offer is consistent with its long-term goal of maximizing shareholder value. The board of directors evaluated the company’s operations, financial condition, capital needs, regulatory requirements, strategy and expectations for the future and believes that the tender offer is a prudent use of the company’s financial resources. The board determined that a tender offer is an appropriate mechanism to return capital to shareholders that seek liquidity under current market conditions and allows shareholders who do not participate in the tender offer to share in a higher portion of the company’s future potential.

The full terms and conditions of the tender offer are discussed in the Offer to Purchase, dated April 18, 2018, and the associated Letter of Transmittal and other materials relating to the tender offer that Herbalife filed with the Securities and Exchange Commission.

The tender offer is not contingent upon obtaining any financing. However, the tender offer is subject to a number of other terms and conditions, which are described in detail in the Offer to Purchase.

The company is currently soliciting shareholder approval of a previously announced two-for-one stock split. If approved at Herbalife’s Annual General Meeting of Shareholders to be held on April 24, 2018, the company expects the common shares will go ex-dividend on the New York Stock Exchange on May 15, 2018. The Depository Trust Company is expected to allocate split share entitlements on May 17, 2018 (the day after the tender offer is scheduled to expire). Accordingly, when completing the Letter of Transmittal shareholders should specify the total number of common shares they are tendering on a pre-split basis.

The post Herbalife Announces Self-Tender Offer Seeking to Purchase up to $600 Million of Its Common Shares first appeared on Direct Selling News.