Tags: oprah | weight watchers | revenue | forecast

Oprah-Backed Weight Watchers Drop on Weak Revenue Forecast

oprah winfrey
(Jaguarps/Dreamstime)

Tuesday, 26 February 2019 05:17 PM

Shares of Weight Watchers International Inc. plunged 30 percent on Tuesday after it forecast 2019 revenue below Wall Street expectations, and the company said investor Oprah Winfrey will play a central role in its marketing campaign.

The company (WTW) said it expects 2019 revenue to be about $1.4 billion, below analysts' average estimate of $1.66 billion, according to IBES estimate from Refinitiv.

"We had a soft start to 2019 versus last year's strong performance with the launch of WW Freestyle ... Given our Winter Campaign did not recruit as expected, we have been focused on improving member recruitment trends," Chief Executive Officer Mindy Grossman said in a statement.

Grossman added Oprah Winfrey will play a central role in the company's upcoming TV and digital marketing campaign for Spring.

She currently holds an 8 percent stake in the company, after selling a portion of her holdings in 2018.

© 2021 Thomson/Reuters. All rights reserved.


   
1Like our page
2Share
StreetTalk
Shares of Weight Watchers International Inc. plunged 30 percent on Tuesday after it forecast 2019 revenue below Wall Street expectations, and the company said investor Oprah Winfrey will play a central role in its marketing campaign.
oprah, weight watchers, revenue, forecast
147
2019-17-26
Tuesday, 26 February 2019 05:17 PM
Newsmax Media, Inc.
 
Newsmax TV Live

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved