You recall that the Media Guru bought a 10% Stake in Weight Watchers in October 2015 and then lost $27 million dollars when the company experienced an 11 million loss in February. she has now made a profit of more than $30 million since October. That's some profit...
Well, According to Kate Rooney in her report for CNBC, shares of Weight Watchers has gained more than 14 percent in early trading Thursday after the company reported lower than expected quarterly losses and the first membership uptick in four years.
Membership grew for the first time since 2012, up 4.8 percent from the previous year, the company said Wednesday. The number of Weight Watchers members reached 3.1 million, with 11.2 percent growth in North America. Offset by membership declines in Europe, global subscribers were up 7.6 percent. Total attendance at meetings also jumped 18 percent year-over-year.
Weight Watchers also raised its full-year earnings guidance to between 80 cents and $1.05.
I guess Oprah really does have The Magic Touch.
Story culled from CNBC.com
No comments:
Post a Comment