The rebranding of Weight Watchers (NYSE:WTW) to WW is seen as in step with the consumer wellness trend. "As Weight Watchers becomes WW, I imagine we can continue to inspire other folks no longer handiest to eat well, nonetheless to switch extra, connect with others and continue to ride the excitement of a healthy lifestyles".
When the Chief Executive Mindy Grossman asked what the letters stood for, she couldn't answer, instead saying they were "a marque" for the company which 'represents [their] heritage and history and what [they] are going forward'. The company's shares have gained nearly 60 percent this year, after surging almost 300 percent in 2017 as advertisements featuring the well-known media mogul helped bring customers back to the weight-loss program after a hard stretch that saw the company's shares sink below $4 in 2015.
Since Grossman, formerly of HSN, took over as the company's CEO past year, WW has done a solid job of making the company's programs more exciting for a broader base of people.
"I think it's fabulous", she said. "And it's hard to create a lifestyle change if you're only focused on one element, which is calories in or calories out or weight loss at any cost".
Grossman succeeded CEO Jim Chambers in July 2017. The WW app will be updated on 4 October to reflect the new brand identity. The TV shopping network was acquired by QVC's parent company Liberty Interactive, in a $2.1 billion deal earlier this year.
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Forget watching your weight.
In an analyst report this month, Weiser wrote that WW "will enter 2019 with a solidly growing subscriber base and a new loyalty program that should be a positive for membership growth in diet season 2019".
Shares in the company were trading up 1.7 per cent toward 1630 GMT in NY. The shares quickly slipped after Oprah shut down the rumors weeks later. Winfrey is an investor in WW and has been public about her success on the program.
The company relies on the winter season to draw in subscribers who have made New Year's resolutions to lose weight. "It's all under concept development, globally".