Weight Watchers Tanks, Oprah Loses $117 Million

Noel7 · ‎03-09-2010

Imo it's the diet change and because they redid their website and it's terrible.

conlt · ‎03-16-2010

I started WW in September 2015 and I have been very successful losing 58 pounds. I do like the old Points Plus better than the new Smart Points but I live with it. I hope they stay around, WW is the most successful weight loss program I have ever been on. Many people ask me how I lost weight but have little to no interest in doing WW. I think they want the "quick fix" or "magic pill" that I took.

Tinkrbl44 · ‎08-23-2010

@Noel7

Was this based on a quarterly earnings announcement ... or what?

Noel7 · ‎03-09-2010

@conlt wrote:
I started WW in September 2015 and I have been very successful losing 58 pounds. I do like the old Points Plus better than the new Smart Points but I live with it. I hope they stay around, WW is the most successful weight loss program I have ever been on. Many people ask me how I lost weight but have little to no interest in doing WW. I think they want the "quick fix" or "magic pill" that I took.

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Congtatulations, @conlt !

I like WW, too, I go on it after every Christmas, lol. They always come out on top as the best diet. I liked the earlier point system best, too. They made a real mess of the online website, though.

Noel7 · ‎03-09-2010

@Tinkrbl44 wrote:
@Noel7

Was this based on a quarterly earnings announcement ... or what?

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Hi @Tinkrbl44

I can't c&p on the iPad, but it's all over the online news if you want details. I just got the news on the local tv report but I verified it online.

Mz iMac · ‎07-26-2014

Weight loss company Weight Watchers International Inc. has reportedly seen $1.2 billion in value disappear over the last 11 months — leaving major shareholder and media mogul Oprah Winfrey with a staggering $117 million personal loss over the same time frame.

The New York City-based weight loss company’s shares took another hit Tuesday after news circulated about the resignation of its CEO, James Chambers, according to USA Today.

Winfrey, who purchased 10 percent of the company in October 2015, is reportedly leveraging her position on the Weight Watchers board to lobby for major management changes.

Weight Watchers stock prices doubled last year when Winfrey became the company’s third-largest investor. She was also given a seat on the company’s board of directors.

“Shares soared 169% in just two days to $18.25 after the announcement of Oprah’s involvement on Oct. 19, 2015, turning into a tidy two-day profit for Winfrey of $73 million,” USA Today reported. “That doesn’t include the paper gains from 3.5 million additional shares she could buy by exercising options. The enthusiasm for the company continued up until November 2015 when the stock hits its high of $28.05 a shares. All told, the value of Weight Watchers soared $1.4 billion in the months following Winfrey’s involvement.”

However, nearly a year later, excitement over the media mogul’s involvement in the company has subsided significantly. While the company’s stock is still higher than it was when Winfrey took on a larger role, the company lost $10.8 million in the first quarter and revenues are flat in the second quarter when compared to last year.

Winfrey’s net worth is estimated to be $2.9 billion, according to Forbes.

Market Watch reports that Weight Watchers Chief Financial Officer Nicholas Hotchkin and board members Thilo Semmelbauer and Christopher Sobecki will run the company while a search for a new CEO is underway.

ARTICLE LINK

"Never argue with a fool. Onlookers may not be able to tell the difference."

Noel7 · ‎03-09-2010

@Mz iMac

THANK YOU so much for postng the details!

I don't think Oprah brought it down. There's been a LOT of dissatisfaction with the new plan.

kcladyz · ‎04-30-2012

Weight watchers works but when they redid the website you can not find anything such as recipies, forums etc. Also it istoo expensive compared to the free programs but I am giving it another shot. If they lowered the cost and bringback the old website it will work for them

Just Bling · ‎03-10-2010

It's a PAPER loss, stock was $6-8 then shot up to $28 and now it's down again.

Has nothing to do with the diet, management issues over there, looking for a new CEO.

What goes down will go up again.

GCR18 · ‎07-03-2013

They need to stick to one plan and, as needed, tweak it. They drastically change it every year and their website isn't upgraded for months into the new year. I'm not surprised they are losing money.