Quixtar Annual Sales Announcement
Corporate changes result in new financial reporting timeframe.
In past years, Quixtar has typically announced its annual sales in October based on the September 1 to August 31 performance year established for Independent Business Owners (IBOs).
While the company has not changed the timeframe for which it recognizes IBO achievements, it has changed its own financial reporting schedule as part of a larger shift made by parent company Alticor Inc. For tax reporting reasons, the companies now follow a calendar year for reporting financial performance.
As a result, Quixtar will not announce its corporate financial performance until after the New Year. At that time the company will announce sales for 2006 calendar year as well as sales reported for September through December 2005. After that, sales will be reported for each calendar year (which would not necessarily correspond with the IBOs’ performance schedule).
Ty Tribble at MLM Blog, “As predicted, I am about to have a field day with this news. Quixtar sales are obviously not very good so they are delaying the reporting of their sales until after the Christmas season.”
That explanation doesn’t “jive” with Alticor’s past announcements about Quixtar and Amway sales figures. No one would argue that Quixtar’s sales figures were down last year in 2005, not even Quixtar in their announcement of the figures.
Alticor and Quixtar have not tried to hide or delay bad sales figures, when sales were down.
I see this announcement at face value. Alticor, Quixtar, and Amway have changed their fiscal year reporting schedule and will announce sales figures at year’s end, be they good or bad.
Now, if this time next year, we see NO sales announcement, or some other tactic, then we can assume Quixtar is hiding something, and the conspiracy and cover-up talks can begin. But until then…the scheduling change is what it is.