HERBALIFE SEES LOWER SALES DUE TO NEW TOOLS

Herbalife on Monday cut its sales forecast for the current quarter as it adjusts to new sales methods mandated by federal regulators. Sales for the quarter ending June 30 will fall 2% to 6% year over year, the company said. Last July, Herbalife agreed to pay $200 million in consumer relief and overhaul its business practices in a settlement with the Federal Trade Commission. The deal allowed Herbalife to avoid being charged with operating a pyramid scheme and face shutdown. As part of the settlement, Herbalife must generate at least 80% of sales from customers outside of its distribution network.