Feb 13 Weight Watchers International Inc
forecast full-year earnings below Wall Street expectations as
attendance at its diet meetings remained low so far this year,
sending its shares down more than 15 percent after the bell.
The company said its marketing strategy has not been
effective in an increasingly competitive environment. Weight
Watchers' diet meetings business has been weak in North America
and the United Kingdom.
The company, which competes with Nestle's Jenny
Craig Inc, Nutrisystem Inc and Medifast Inc,
said it expects full-year earnings of $3.5 to $4.0 per share.
Analyst on average were expecting $4.75 per share, according to
Thomson Reuters I/B/E/S.
However, the company reported fourth-quarter results above
expectations, with earnings of $1.03 on revenue of $407.9
Analysts had expected earnings of 87 cents on revenue of
Shares of the company closed at $54.11 on the New York Stock
Exchange on Wednesday.
(Reporting by Juhi Arora in Bangalore)