Weight Watchers said it will tap spokeswoman and board member Oprah Winfrey to play a central role in the company’s spring TV and digital marketing campaign.
shares cratered 25 percent Tuesday after the company posted disappointing fourth-quarter results and gave a weak outlook for 2019 as the company tries to pivot to a wellness company from a diet brand.
Weight Watchers reported adjusted fourth-quarter earnings of 46 cents per share, falling well short of the 60 cents per share analysts polled by Refinitiv had expected. Sales reached $330 million, also coming in below the $347 million Wall Street had expected. “While we are proud of our accomplishments in 2018, we had a soft start to 2019 versus last year’s strong performance with the launch of WW Freestyle,” CEO Mindy Grossman said in a statement. “Given our Winter Campaign did not recruit as expected, we have been focused on improving member recruitment trends. We quickly moved to course correct, including introducing new creative with a stronger call-to-action and further optimizing our media mix.
Under Grossman, the company has moved away from its roots as a diet company, dropping the word “weight” from its name and rebranding itself as WW last year. Younger consumers have largely shunned counting calories, instead trying to simply eat clean or be more mindful about what they’re eating.
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