Weight Watchers posts mixed first-quarter results, boosts full-year forecast
The company increased its full-year forecast.Weight Watchers International Inc. food products.rose 5% after the markets closed Wednesday as the company posted first-quarter results that weren't as bad as feared and boosted its forecast for the year.
Here's what the company reported compared with what Wall Street was expecting, based on average analysts' estimates compiled by Refinitiv:Revenue: $363.2 million vs. $365.9 million expected Weight Watchers is trying to transform itself into a wellness brand instead of a diet company. It's revamped its image and rebranded itself as WW last year. The new lookwith consumers as the trendy keto diet went mainstream, hurting the company's recruiting efforts during the early part of the first quarter, the critical diet season.
The company in February warned it had a "soft" start to recruiting members at the beginning of the year, sending its stock tanking. In response, Weight Watchers said it would lean more on weight loss icon and board member
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