Brief: NU Skin Enterprises Determined To Exit Company's Grow Tech Segment

Nu Skin Enterprises

29/12/2021 21:19

Dec 29 (Reuters) - NU Skin Enterprises Inc  NUS.N :
    * NU SKIN ENTERPRISES INC - ON DECEMBER 22, 2021, NU SKIN
ENTERPRISES, INC. DETERMINED TO EXIT COMPANY'S GROW TECH SEGMENT
    * NU SKIN ENTERPRISES INC - DECISION PRIMARILY IMPACTS
INFRASTRUCTURE AND ORGANIZATION OF OUR INDOOR-GROWING BUSINESS
    * NU SKIN ENTERPRISES INC - EXPECT THAT ACTIONS TO WIND DOWN
GROW
TECH SEGMENT'S OPERATIONS WILL BE SUBSTANTIALLY COMPLETED BY
MARCH 31, 2022
    * NU SKIN ENTERPRISES INC - IT IS POSSIBLE THAT CERTAIN
CONTRACT
TERMINATIONS AND LEGAL MATTERS MIGHT CONTINUE FOR ADDITIONAL
TIME
    * NU SKIN ENTERPRISES INC - ESTIMATE THAT WINDING DOWN
SEGMENT
WILL RESULT IN PRE-TAX CHARGES OF APPROXIMATELY $52 MILLION-$60
MILLION
    * NU SKIN ENTERPRISES - ANTICIPATE SUBSTANTIALLY ALL OF
NON-CASH
CHARGES AND SEVERANCE AND OTHER COMPENSATION CHARGES WILL BE
INCURRED IN Q4 OF 2021

Source text: [https://bit.ly/3JqQe4U]
Further company coverage:  NUS.N 

 ((Reuters.Briefs@thomsonreuters.com;))