Weight Watchers Loses Customers as Mobile Apps Lure Dieters
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Weight Watchers International Inc.’s disappointing profit forecast provided further evidence that new mobile applications and bracelets that track calories are hurting traditional diet companies.
Weight Watchers, endorsed by celebrities like Jessica Simpson, reported its fourth straight quarterly sales decline after the close on Feb. 13 as fewer people attended meetings and bought its products. The company also projected earnings that trailed analysts’ estimates, sending the stock plunging 28 percent to $22.10 yesterday, the worst one-day drop since its initial public offering more than 12 years ago.