Profits also declined due to the changes in the sports nutrition...

Profits also declined due to the changes in the sports nutrition industry in specialty retail.

Big box retailers expanding massively. Acquiring struggling stores/chains and becoming bigger.

Making their own pills (non-approved by TGA) labelling their pre workouts and fat burners as foods (non-compliant). Banned ingredients in supplements.

NS started competing with their own customers, who then entered the market not just as retailers but also importers and started distributing their own imports and product creations. Retailers making supplements to compete with the NS offering. Staff being given KPI's to push home brands, KPI's to not sell 3rd party brands. Shelf space for NS went from 50% of a store to almost nothing. Something had to happen. NS are too big in this game.

Retailers jumped lanes and dropped the spend dollars with NS.

Now look what has happened; the TGA have stepped in after seeing a myriad of non-compliant sports supplements on the market. It's out of control. Some play by the rule book but those who haven't have caused the TGA to get involved.

The retailers up in arms are the ones who have LOTS to be worried about.

Who doesn't need to worry? NS. They did everything by the rule book the last 5 or so years, everything is compliant, nothing will get removed from the market.

Many competitor brands will suffer and could go out of business. And NS will steam along picking up business to fill shelf space.

The timing of this all plays into NS hands in a huge way. if the TGA pass this new legislation then i think NS will win in a big way.

NS are also taking on some huge brands. Other suppliers are struggling. they will slowly drop off and NS will become stronger and more big brands will approach NS.