Weight Watchers International, Inc.
|Company Name||Weight Watchers International, Inc.|
On February 26, 2019, Weight Watchers issued a press release and conducted a conference call with investors and stock analysts disclosing the Company's financial and operating results for the fourth quarter and fiscal year 2018. Weight Watchers announced that its subscriber count had declined to 3.9 million describers, and stated that enrollment would continue declining during 2019. Specifically, Weight Watchers was targeting revenues of only $1.4 billion for fiscal year 2019, significantly less than the nearly $1.7 billion in revenues it had led the market to expect, and earnings per share ("EPS") of only $1.25 to $1.50, far lower than the EPS of $3.36 that the Company had previously led the market to expect.
On this news, shares of Weight Watchers' fell $10.20 per share, or nearly 35%, to close at $19.37 per share on February 27, 2019, thereby injuring investors.
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