WeightWatchers said Tuesday it is filing for Chapter 11 bankruptcy protection to eliminate $1.15 billion in debt and focus on its transition into a telehealth services provider.Parent WW International Inc. said it has the support of nearly three-quarters of its debt holders. It expects to emerge from bankruptcy within 45 days, if not sooner.WeightWatchers, which was founded more than 60 years ago, has struggled recently.
Weight Watchers International (NASDAQ:WW) shares plunged 43% to $0.45 as it struck a deal for a "pre-packaged" Chapter 11 bankruptcy, aiming to clear $1.15 billion of debt off its balance sheet. The company, officially known as WW International, has cut a deal with a group of lenders and bondholders holding around 72% of its debt, with the process expected to zip through the courts in around 45 days.
WW International (WW) came out with a quarterly loss of $0.47 per share versus the Zacks Consensus Estimate of a loss of $0.26. This compares to loss of $0.06 per share a year ago.
The icon of a bygone dieting era seeks to shed debt and restructure as women gravitate toward drugs to lose weight.
“WeightWatchers is a huge brand now. It's got millions and millions of members,” said Bruce Galloway, chief investment officer at Galloway Capital Partners.
Yesterday was a head-spinning day in the markets. After President Donald Trump announced out of the blue that he would be placing a 90-day pause on reciprocal tariffs for many countries—excluding China—stocks rallied.
Oprah Winfrey left the diet company's board last year after admitting to using a weight-loss drug.
WW International, Inc. (NASDAQ:WW ) Q4 2024 Earnings Conference Call February 27, 2025 5:00 PM ET Company Participants David Helderman - Director, Investor Relations Tara Comonte - President & Chief Executive Officer Felicia DellaFortuna - Chief Financial Officer Donna Boyer - Chief Product Officer Conference Call Participants Nathan Feather - Morgan Stanley Michael Lasser - UBS Alex Fuhrman - Craig-Hallum Capital Group Operator Good day, and welcome to the WeightWatchers Fourth Quarter and Full Year 2024 Results Conference Call. All participants will be in a listen-only mode.
WW International (WW) came out with quarterly earnings of $0.32 per share, beating the Zacks Consensus Estimate of a loss of $0.10 per share. This compares to loss of $0.06 per share a year ago.
The Wall Street Journal reported, citing unnamed sources, that WeightWatchers and the lender advisers recently entered into a confidentiality agreement.
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WW unveils its next-generation program, introducing advanced features aimed at transforming the weight management experience.