CLOSE

The company, now officially called WW, also collaborates with Blue Apron to deliver flat-approved meals to your home.

Time

Concerns about a decline in membership growth for Weight Watchers International gave a big blow to Oprah Winfrey's investment in the diet and wellness company.

Winfrey, who owns approximately 8 percent of Weight Watchers, lost nearly $ 58 million on paper Wednesday morning as the company's stock plunged.

Weight Watchers shares fell 36.1 percent in early trading Wednesday to $ 18.90 after the company reported Tuesday that it was "disappointed with our start to 2019." The beginning of the year is the most crucial time for healthy living ventures.

The company rebranded as WW in 2018 with Winfrey's blessing, aiming to ride a wave of interest in well-being and natural ingredients. But the pivot from a clear focus on weight loss can be nebulization. Salsa sale: Campbell soup to sell salsa maker Hageferske Gourmet among turnaround effort

Target wine: Target launches new cheap wine collection at $ 9.99 per bottle starting this weekend

Fourth quarter earnings fell 30.5 percent to $ 43.8 million. Subscribers at the end of the fourth quarter amounted to NOK 3.9 million, an increase of 22.4 per cent from the previous year.

This January 7, 2018 picture released by NBC shows Oprah Winfrey who accepts the Cecil B. DeMille Prize at the 75th Annual Golden Globe Awards in Beverly Hills, California. call for social justice in the name of the MeToo movement drew wild bowl in the ballroom at the Golden Globes Awards in January and reverberated across the country. Pundits and Oprah whisperers proclaimed it a first step towards a presidential battle, and # oprah2020 trended. (Photo: Paul Drinkwater, AP)

But WW's CEO Mindy Grossman said in a statement that the company had a "soft start to 2019 versus"

To regain momentum, Winfrey personally agreed to "play a key role in our upcoming TV and digital marketing campaign, "Grossman said.

Oprah sells shares: Winfrey books profit on Weight Watchers stock

Vectors rebrands: New brand is WW in focus on wellness

Winfrey first invested in weight watchers in 2015, and bought 10 percent of the company for $ 6.79 per share.

While her shares remain almost three times their original value on the investment day, the stock is 82 percent from its 52-week high of $ 105.73. Winfrey offloaded some stocks in March for a range of $ 58.29 to $ 63.94, and orders a healthy profit.

Follow USA TODAY reporter Nathan Bomey on Twitter @ NathanBomey .

Read or Share this story: https: //www.usatoday.com/story/money/2019/02/27/oprah-winfrey-weight-watchers-international-ww/3002180002/


Source link