WEY | Publishing Ww20614 THE WW WELLNESS JOURNEY: THE REBRANDING OF WEIGHT WATCHERS. For years, WW Intemational Inc. (formerly Weight Watchers International Inc.) (WW) identified as “the ‘world’s leading provider in weight management services” and centred its purpose on weight loss,' However, ‘the company’s competitive and industry landscape bad begun moving in a distinctly different direction. ‘The most recent few years had presented a dynamic renaissance within the health and wellness industry: consumers had bezun incorporating healthy habits into their lives at a growing-rate and simmltzneously lost interest in health fads * In am effort to keep up with these shifts, WW introduced s series of key business moves over three years that ‘were designed te orient the brand toward wellness-driven consumers. WW"s decision to officially change its name aligned with its Grst major move to create anew global, purpose-driven brand, Later initiatives incinded ‘plans to integrate the consumer experiance across several social platforms, add mindfulness snd activity into ‘programs, and redesign products to inspire positive behaviour change in custamers.* When discussing her rationale behind the rebrand, WW's chief executive officer (CEO), Mindy Grossman (see Exhibit 1), said “In today's world, if you're not moving and you're not moving forward, you're not agile, and you're not evolving, [snd] you're going to be left behind.“ WW understood, however, that these large sweeping changes would put the company at risk of alienating its loysl customers. As 2 result, company leadership did not want to loosen its grip on WW"s history and previous core competency. Grossman told several news ouilets that WW “will never abdicate [its] leadership in healthy, nutritious ‘weight loss. ‘Simply put, within only three years, the rebranded WW wanted to redefine its identity and pursue new avenues within its industry, while effectively continuing to provide its previous products and services. ‘Though WWs rebrand initially sounded promising, factors such as the timing of its execution and the new demographics it chose to target led to poor first impressions on investors and certain customers. It was far from certain that the journey from the weieht loss industry to the health and wellness industry would end ‘well and result in the company's desired global impact. What strategic shifts might Grossman need to ‘implement in order for WW to succeed with its elobsl rebrand?Se ey COMPANY BACKGROUND: Company History. WW's founder, Jean Nidetch, a suburban housewife ftom New York, had struggled wits being overweight all her life. One day, she decided enough was enough, and she started what would become a weight loss empire out of her living room. In 1961, Nidarch invited a oumber of her fiends to ber home to discuss the problems they “were having with weight loss. She established and carefully bezan to follow a strict diet overseen by 2 state obesity clinic. In her meeting, she encouraged ber fellow “Weight Watchers” to do the same* ‘Nidetch’s diet worked: she lost 72 pounds within only one year, placing herat her goal weight. She recognized that tts weight loss had a profoundly postive effct on Ker lf, Wlidetch channelled this enerzy ito 4 DEW ‘pusinese venture opening her Weight Watchers group sessions w the public fora USS’ fee per misetzg. Her sisson atthe time was to help other people im her community lose weight the seme way abe had by providing them with zroup supportand no-nonsense diet plans. Nidetch placed her own story at fe centre of her brand: she found ways to tell hr customers that she wa: just like them and thet if “[she] could doit, anybody could do it” This message and overall mission proved to be effective: by 1968 ber business had tansformed into an international weight-loss corporation with 3 milion prying members * Decades Iter, WW's central operations moved to the'company"snew corporate headquarters in Manhattan. Despite the new location, WW keptits mission the same; itcontined to brand itself as “the world’s lesding ‘provider of weight management services” well into the 2010s," What did change was the main focus of Wwrs business, WW was focing new challenges. Because it had been slmost 50 years since the company was founded, ‘Nidetch’s personal weight loss experience was no longer relevant 10 the averaze WW customer. To encourage modern-day customers to join its programs, WW required a new relatable weight loss champion ‘who was simultaneously influential enough to lend credibility to the trand and convince members to pay for WW services. In 2015, WW found this golden ambassador in TV personality Oprah Winfrey. ‘When Winfrey bought 10 per cent of the company’s shares and sized on as 4 board member, WW"s stock ‘price (Which was valued at below $5 earlier that year) sharply increased by 90 per cent (see Exhibit 2)!" ‘Wintey’s endorsement of WWW services and the company’s occasional adjustments to its existing weight loss products kept the company afloat for the next three years. However, Winfrey could not work her magic on the brand forever, and the company needed to make broader changes to its purpose to attract new generations of incressinely wellness-oriented consumers. Tn response to these concers, WW Iamched its prized Impact Manifesto in February 2018. This public document doubled as WW’s new mission and vision since:it provided 2 framework for the brand’s new direction “within the wellness space. The Impact Manifesto did not mention weightloss at all and, instead, included trendier ‘vocabulary, initiatives, and promises to its members. For instance, one section stated that WW would “[belp] 10 million people adopt healthy habits” and “be known for bringing wellness to all” by 2020." The Impact Manifesto was designed to be the centrepiece of WW's rebrand going forward, but the company’s commitment to this blueprint for change in the mouths following its release appeared flimsy. ‘The company seemed to be suffering an identity crisis im its attempt to juggle the promises made by the manifesto with WW’s established brand equity in weizht loss.SS Existing Products and Services WW's most recent products and services could essentially be broken dawn into three separate categories: (Q) applications (apps) that tacked food and activity, (2) meetings and coaching services, and G) consumable products. WW was best known for its points system, which tacked and assigned points to fod intake and activity. ‘Members were allotted a certain number of points per dey depending on their current weight and goals, and each food item or physical activity in the system corresponded to a number of health-related points that ‘were counted sgainst or added fo the member's total points for the day. Every few years since the first ‘version of this system was introduced in 1997, WW incorporated more nutrition information and health factors into eech point, assigning the revised system a new motivational name.!? In December 2017, WW introduced the WW Freestyle program, which was the company’s most recently established points system prior to the rebrand" This system established ZeroPoint foods, items that ‘members could eat in any quantity without using up their pomts for the day.'* Freestyle illustrated WW's new focus om personalizing weight loss plans and showed consumers that it was easy to incorporate hesithy ‘The program also featured SmariPoints, which related to food intake, and FitPoints, which related to calories and fats into account FitPoints allowed members to sync their external activity macker (such as 1 Fitbit) to their WW app and eam aetivity-based points specific to their workouts. What differentiated WW from the dozens of free calorie-counting and weight loss apps availatle online ‘was the commmmity it aimed to create for its members. WW meetings hed been central to the company's customer experience ever since Nidetch’s first one in 1961. Meetings were held once a week in small pop- ‘up locations or virtual meeting rooms scattered across the counmy."” Amendees began each meeting by documenting their weight. They then engaged in a weight loss-related conversation topic with other WW members and their Meeting Leader, 2 WW weight loss success story who offered the members advice on reaching theit goals. For members who did not feel comfortable disclosing information about their weight ingroup sessions, WW also offered one-on-one coaching sessions and 2477 chat options with Mained Weight loss experts. WW charged its members for these services according to a typical subscription-based pricing model. (Customers had the opportunity to choose benween three types of subscriptions, which provided varying levels of access to WW services (see Exhibit 3)." These meeting room and online subscription plaas by far generated the greatest portion of WW"s revenues in a given year. For instance, in 2018, WW earaed $1.27 Dillion from services that included online subscription and meeting room fees for members. These services made up approximately 84 per cent of the company’s total revenues of $1.51 billion that year.” ‘Thongh the online tracking and coaching experiences made up the bulk of WW's services, WW"s business id not stop there. The company also sold a wide range of consumable products, mcluding bars, snacks, ‘bakery products, cookbooks, and magazines” These products were available in local department stores snd)pharmacies, in WW mesting rooms, and online (om either Amazoncom or WW's ecommerce Platform). According to the company’s annual report, 12.6 per cent of WW's amuual revenues came from, onsumer product sales in 2018 (see Exhibit 4).De By providing primarily weight management oriented products and services prior to 2018, WW systematically and successfully covered multiple bases within the weight loss sector. However, a5 of February 2018, weight loss was arguably no longer WW’s standalone core competency. WW sdided several new focal points related to holistic wellness to its toolkit. Whether WW would dominate emerging market segments as successfully as it dominated weight loss was stil far from certain. Evolving Consumer Base As diet and weight loss went out of fashion, more news outlets began w brand WW as “heir mother’s diet program." Despite WW"s efforts to “be known for bringing wellness to all,” whe company's curent Consumer demographics were reflective ofthe denigrating label.""a 2018 study by Simmons Market Research found that #4.9 per cent of WW menibers were women, and 53.4 per cent of members were over the age of 5328 In addition, the average WW consumer was financially stable and eamed benveen $100,000 and 5125,000 per year.* ‘This image of the averaze WW cousumer was distinctly different fom that of the average US consumer interested in bealth and wellness products. According to the Simmons stady, although only 15.1 per cent of WW members were men, 43.4 per cent of men in the United States were interested in nutrition and developing healthy habits.” Further, a Hgfingron Post study found that the most health-centric consumers in America were under the age of 20, significantly younger than the typical WW customer." A smdy done ‘by the Federal Reserve observed that these young bealth and wellness consumers hed “lower earnings, fewer assets, and less wealth” than their baby boomer predecessors, and another study showed that 30 per cent of all beshth consumers were highly price-consciaus.”” Lastly, ouly half of health and wellness consumers bad an isolsted interest in Josing weight; the rest were roughly equally interested in bealth and lifestyle benefits" In am effort to stay relevant‘tn the health and wellness space during its rebrand, WW ‘was going to need to effectively mazket its products and services to more mea and to young adults with limited discretionary income. New Brand Direction for WW In September 2018, seven months after releasing the Impact Manifesto, WW announced its official name change tothe public” However, the company's previous weight loss history did not disappear completely “updated to reflect the rebrand and the company's new focus on wellness. ‘According to WWs chief brand officer, the company was, first and foremost, completely revamping its embers now parcipted in + Wellness Check-in a thee locations, and they wotked with Welles Guides and Coaches instead of Meeting Leaders.Pes eee “The WW app was updated to reflect these visual and vocabulary-based shifts as well. Other changes to the app experience went below the surface. The WW app also introduced 2 mumber of social and monetary ‘incentives to motivate customers to stay loyal to the company." One incentive was WelinessWins, a ‘customer rewards program that awarded “Wins” or rewards points to members for tacking their food and scivity and stending workshops regularly. These wins could Ister be redeemed for wellness-relsted ‘Products, services, and opportunities * Another more social source of motivation for members was WW Connect, the Social media piece of the app experience. WW Connect simed to butld commmmnity among members in.a digital space a5 well as in ‘workshop settings. In a designated section of the app, users could post photos or videos related to their interests, follow other user accounts and hashtags featuring similar interests, and reply to existing posts.” ‘The third and latest WW membership incentive was the company’s Tnvite-s-Friend initiative, which wilized (peer networks. ‘WW members were encouraged to introduce their friends to WW’s program by sending a specific invitation link to them. If the member's friend crested a WW account using the link and stayed active on the platform for at least nwo weeks, both the existing member and the member's friend ‘would receive WW products and services free of cost for ane month. This sales promotion did not expire after only one reference: existing WW members could confine receiving products and services for free ‘with every new member they recruited * Along with member incentives, the app-based tacking system received a few other upgrades as.a result of ‘the rebrand.” The upgrade put a novel spin on many familiar features that were popular among existing ‘WW members. The largest tracking system upgrade was the introduction of myWW, a new and improved ‘version of the Freestyle program and the points system. Upon subscribing to WW, members were prompted to complete a “science and behaviour-based personal assessment” that asked them sbout their food ‘preferences, activity level and interest in exercise, and weight loss goals. Based on members’ responses, ‘the app assigned them to one of three wellness plans—named Green, Hine, and Purple Each plan featured a different ratio of ZeroPoin! and regular SmrtPoint food items. The Green and Purple ‘plans provided different belances of SmanPoint and ZeroPomnt foods to cater to customers with different ‘Priontes (including menu flexibility and healthy food opnous). The Blue plan evenly split the number of ‘ZaroPoist snd SmartPoint foods; im essance, this plan was the existing Freestyle program with a diferent mame. By staying te to the Freestyle method, the Blue plan provided comfort for existing WW members whe did not want to switch to a new program “* ‘WW also introduced number of smaller changes relsted to its app snd tracking system. For istance, FitPoins were given s makeover and renamed FitPoints 2.0. The improved wacking system tailored individual FitPomt vaines based on a member’s physical information (incinding height, weight, aze, and gende). FiPoims 2.0 also imcorpornted chotce of activity and time spent exercising in each member's FitPoint count and weekly goal Another change involved a feature intisted prior to the 2018 rebrand, requiring that members specify a ‘weight management related interest or goal before receiving access to WW products and services. In an ‘effort to expand ‘ts community to include members who were not specifically interested in weight loss, ‘WW inmched a “Healthy Habits Focus" within its app expenence, WW members could now opt to use its ‘platforms simply to develop healthy habits rather than to lose weight AWW simed net only to transform within its own branded spaces, but also to bring thet transformation imo its members’ Kitchens. Despite WW"'s saack items" healthy and diet-cemtric reputation, 2 large number ofEEE SHES these products featuwed bigh-fat and artificial sweetener ingredients.“ In an effort to bolster WW"'s new focus on healthy eating, the company announced that “starting in January 2019, every [WW] product sold directly to consumers. will have no artificial sweeteners, flavors, colors snd preservatives. ™®: WW members would not only be snacking healthier as a result of the rebrand, bur also preparing healthier acles in an effort to get members more comforable with healthy sthome meals.” The face of WW Healthy Kitchen was popular TV restaurateur Chef Eric Greenspan‘ Tn the process of rewriting is old playbook and introducing new products and services, WW discovered a new target market that it could reach with its services. In August 2019, the company acquired youth-friendly mobile ‘bealch app Kurbo and launched a new wellness app, Kurbo by WW, directed towards children and teens. The spp’s primary focus was to reduce childhood obesity in children nd teens aged 8-17, it incorporated elements of healthy eating, mindfulness habits, and physical activity to make that happen.” Kusbo used a twaffic light system in an effortto simplify the process of making healthy fond choices for teens. The app Iebelled fruits and “vegetables as “green” foods and encouraged is users to ext them st amy time. “Yellow” foods, including carbolydmte- and protein-heavy items such as pasta and meats, could only be eaten in cermin quantities. “Red” foods, such as desserts and sugary drinks, needed to be avoided completely. Every child user was also assiened 1 Wellness Coach who spoke to the user one-on-ome enchweek via video chat tohelp them through their Weight Joss joumey.” The Kurbo website feamumed a number of success stories, and although many of those stories ‘equated the level of each child’s success with number of pounds lost. a few stories measumed success by Gscussing users’ improved concentration st school or performance om aifletic teams,” As WW moved into broader health spaces outside weight loss, the company acquired a slew of new competitors from different industries. WW now faced the challenge of balancing its new competition in ‘unfamsiliar territory with its long-term rivals within weight loss. Weight Loss Competitors Within the weight loss community, WW was 2 household aame, In 2019, the company led the US diet and ‘weight loss market with 37.3-ger-cent market share, and if beld 22 per cent of the US online weight loss service provider mucket share.” In addition, for 10 consecutive years the company cousistently achieved the number one spot in US News and World Report's “Best Diet for Weight Loss” and “Best Commercial Diet* ists." WW's significant competitive sdvantege in weight loss placed it ahead of its competition for 4 uumuber of years, but its rivals were not far behind. ‘biggest threats to WW within the diet and weight less sector were Nurrisystem, Medifast, and Jenny Craig, althouzh there were also 2 mumber of smaller online competitors. * Mutrisystem, Jenny Craig, and Medifast all sent customers meal kits that were prepared by company chefs for a prepaid fee (see Exhibit 5). This,ej ‘business model differed considerably from WW"s structure, since WW emphasized nutritional tracking over other methods of weight loss. not afraid to be inventive and further encroach on WIW’s territory. In December 2019, in response to WW"s myWW initiative and its imtegration into the WW spp, Nunisystem Inmched Parsoual Plans, which were customizable weight loss programs, on its own app, NuMi‘* This new initiative enhanced Nutrisystem’s offerings by matching the food delivered to each customer to their “body type, goals, and food preferences ™* Other competitors outside the traditional weizht loss space were also gaining ground by establishing similar ized or app-based weight loss initiatives. Health care giant Novo Nordisk A/S announced that it ‘would be parmering with Nom, a behavioural change app, in October 2019, and that this joint effort would ‘be focused on “weigh! management and education, with the aim of mproving the lives of people Living ‘with obesity.” Many of Noom’s solutions were similar to WW"'s, incleding behavioural weight loss coaching and structured dit plans euided by a “poyehology based? assessment that asked users questions related to weight loss goals, interests, and babits."” Traditional and new media provided alternatives for those who did not want to pursue the commercial ‘weight loss route. Dozens of weight loss programs were publicized with television infomercials and, more recenily, social media advertisements and sponsored influencer posts. Popular celebrity influencers such as Kylie Jenner used their Instagram empires to advertise “flat mmmy” detor teas, and millions of followers often engaged with these posts. The social media endorsements these detox companies received from celebrities had the potential to have a sienificantly higher infiuence on the companies’ overall value than mare traditional marketing campaigns Many consumers did not follow formal diet plans at all, but simply started adopting healthier eating ‘practices. By switching to vegan, vegetarian, or pescatarian diet plans. people often received many of the ‘benefits that a traditional weight loss program provided, but without the monetary costs. Notably, US News snd World Report awarded vegmism second place on its 2020 “Hest Diet for Weight Loss” list r healthy eating movements were on the rise, and vezanism in the United States sew a 600- ‘par-cent surge between 20M and 2017.** ‘Thougis WW essentially dominated the commercial weight management market, it still ad a long way to zo im terms of conquering the vast health and wellness landscape. In an effort to better align with its new purpose to “partner [with] everyoue on their pursuit toward healthy living” snd appeal to new markets of health-conscious ‘nillemnials in the process, WW took on the health food sector, slong with all ofits existing competition * Health Food Competitors. Millennials were quickly transforming the traditional grocery and cooking industries, and as a result, the food industry quickly changed to accommodate millennial lifesyles“ Dozens of grocery and meal delivery sysiems were cropping up around the country. In an effort to win over the averaze millennial consumer, ‘WW needed to differentiate its own fresh food delivery system from a sea of alarmingly similar competitors. ‘Differentisting WW"s meal kit program from competitors’ was tricky for 2 company that was in the initial stages of establishing its identity within the wellness space, There were many other extublished meal kit, competitors alongside WW Fresh—incindine HalloFresh, Sun Basket, and Bine Apron—that emphasized quality and bealthiness of ingredients, and convenience of preparation ou the front page of their websites.rn ANS, ‘The only clear difference in product between WW Fresh and other meal kit services was that WW Fresh’s meals comesponded to “between 5 and 17 SmartPoints.* Unfornmately, this point value did not mean nach to a.new consumer who did not wish to enol in WW"s entire wellness program. In addition, WW was at an immediate disadvantage because its meal kit service was not available online; inwas only available in select Hy-Vee grocery stores” Busy millennials who were iooking to receive their teal Kits as soon as possible were more likely to opt for an online delivery service.“ AFTER THE REBRAND WW"s fourth quarter 2018 earnings call in February 2019 was the first real indicator of the company’s performance after its rebranding efforts. As anticipated, the company began to make headlines on acclimed news platforms after its fourth quarter results were relenved, but most of these beadlines painted a bleak picture.” During the earnings call, investors quickly pointed out that despite introducing a umber of new membership incentives, WIW"s subscriber count had declined by 200,000 since the second quarter of 2018, sod it had been declining two quarters in a row. Investors had expected the rebrand to motivate grester number of members, not fewer, to stay with the company.” Lowered subscriber retention rates did not match with WW’s new vision of becomung“ ifetume ealth partner [for its consumers] rather than diet,” sand this discrepancy led to roubled reactions from investors and media outlets.” ‘The earings call question-and-answer session also revealed that, even though more men had joined WW 1a result ofthe company's new Lnete--Friend programy the average WW Digital + Stadio plan member ‘was still approximately 40-year-old woman. WW"'s chief financial officer, Nick Hotchkin, did not see or expect & massive change in other consumer attributes.” In addition to fewer subscribers, financial analysts reacted negatively to the company's fourth quarter results becanse of lower than expected revennes. The company had earned $365.8 million in revemues rather than the projected $379 million. Grossman suggested two possible camses for these lower earnings. The first was thet WW had timed its more weight loss focused, especially in the January season,” when hundreds of people made New Year's resolutions sbout losing weight.” She alsa suggested that the lower revemes could be a product of the ‘imcreasimgly popular keto (carbobydrate-free) det.” Analysts agreed. with Grossman that keto and other popular fd diets were a threat to the company’s earnings, and subsequently cut their price estimates for WW stock * WW stock prices dropped sharply by 32.5 per cent after the eamings results were released” This stock price plummet cast a shadow on the Despite WW's initial setback in February, the company’s confidence did uot waver. During its second quarter 2019 earnings call in August, WW reported higher than estimated revennes and subscribers.” Ia addition, the company anounced the “Oprah's 2020 Vision: Your Life in Focus” tour, in which Wintey -wonld be hosting wellness events in nine US cities ™ The news inspired 20-per-cent surge in the WW sock price and led JPMorgm Chase & Co. investors to change their ning on WW stock fom “underweight” to “neutral.”oe AOS WW decided to use this momentum to announce its aew Kurbo by WW initiative later that mouth. Although Kurbo didinot have a long-term negative effect on the WW stock price, the initiative was not popular zmong news outlets. Outraged parents on social media, victims of childhood eating disorders, and non-profit organizations such 2s the National Eating Disonders Association made statements reloted to the dangers that ‘apps such as Kurbo could pose to children’s eating habits. ‘The widespresd backlash toward this initiative started another series of tumulmious months for WW. The negative reaction to the Kurbo initiative coupled with lower than expected revenms led to a 15.per-cent drop in stock price following the third quarter 2019 earnings call in November" To make matters warse, rival Companies in the bealth and wellness space, such a: Novo Nomlisk and Nutisystem, bezan releasing ‘personalized weight loss programs in Iste 2019. The striking similarity between these rival weightloss plans and the my WW initistive worried many investors: WW"s stock price dropped 10 per cent after Novo Nordisk relessed Noom and 8.6 per cent after Nutrisystem released its Personal Plans (see Exhihit 2) ‘The competitive Landscape was getting intense, How could WW recover from this setbeck? Grossman netded to devise an sctiom plan to resssure investors and concerned members im the interim, while also securing the long-term visbility of WW. However, moving WW's image away from promoting shedding ‘pounds and toward encourazing long-term wellness was, a5 had been evidenced, easier said than done.Page 10, EXHIBIT 4: MINDY GROSSMAN, BIOGRAPHY Mindy Grossman was the cunt chief exeoutive officer (CEO) of WW irtemational ne. ani the champion rebrand. professional lf i as ‘She then made her way through the ranks in several different New York fashion companies, i ‘Tommy Hifiger, Raiph Lauren Corporation, and Nike Inc. In 2008, Grossman joined HSN (formerly Home Shopping Network} as the company's eighth president and During her tme with HSN, Grossman repeatedly eamed spots on Forbes’ “100 Most Powerful Women” and Financial Times's “Top 50 Women in World Business” lists. Grossman joined WW as CEQ in July 2017. She credited board member Oprah Wintrey as her inspiration to lead the company. Grossman spearheaded the WW rebrand with the intent to create a “purpose fiter” ‘for the company. “We don't tell people whst they should weigh, we don't tell people what health masns to them,” said Grossman on WW's new company purpose. “We say ‘what does healthy mean to you, and what's your why? ‘Soume: “HEN's Mngy Groseman: How Did | Get Here?" Bloommerg. August 28, 2014, soossseq December 29, 2019, ‘waa bloomberg com ews! aticies/201- Won, “WW CEO Mindy Gruceman on ihe Inuence Opran Has Had on Her," ABC News, December 17, 2019, aonessed Devember 23, 2013, Gresman, SNEa ss \EXHIBIT 4: WWINTERNATIONAL INC, WEIGHT WATCHERS INTERNATIONAL INC., AND ‘SUBSIDIARIES—CONSOLIDATED STATEMENTS OF NET INCOME (IN USS THOUSANDS, EXCEPT PER SHARE AMOUNTS) wee SSS “Ses Sa Se ao aa age a ponioan ac omrctat vers deat ne wat oyu cxtusnens mer gmt want caarmantcae a obr me Qo me oat mote gees oma curred mug ire zat senses tee mo) mae eon cera masta pres mim! pet mae content ota ° cpg rene Me ee man veeetpeee —— em Secret > m= te cereale et E as 3 vor tr rae se must sao pecans pont a man qa) et — wa mon ra vattcr entane toe eg = ” pa eee ee mae mses _——— ee = =D Ps = = ES Pa i vaya rage amet eg ‘Base 6,280 4,329 63,742, ome mis as caer caraatiags eg? aoe aes a mons oom mus car eae —— vm wana ata roan one pene mane et =e tui sens asaae SouDe WW Intemstonsi ine. Annual Report 2018 Fetuay 25 2019 accessed erumy 4, 2100,vera 18.2% Queer ree ‘Ontine: 7.1% Medifast Go! 30-day programs | 1- or 2-week pian for all designed for fastwelgntioes | menus (Incuging Men's, Ineuding. ‘Womests, Reduced Carb, + Medifast Gol 30-Day it | Low Sugar, ang Westies): $451 $23.28iay + Mearast Go! Guten-Free Kr S451 Medifast Achieve! 20-day programs desloned for gradual welgnt oss Inctuaing: = Medirast Achieve! Satect KESSI355 + Mearast Ashleve! Complete Ki: $478.30 Products and |. S7 quick prep meaixtetor | » 6-7 qulicprepmeai mts tor | « Sie quick-prep meal nts tor Seroes ‘each day of the week each day of the week ‘each day of the week ‘ Increased menufextity | + 1-2"LeanandGreen" | + Choice of food Iiems trom based on subdseripton meals foreach day ofthe | tour predetermined menus pans week + Minimum weeRly meeings: ‘+ Access to weight loss = Do1"Heathy Snacks" for | with personal welght loss ‘counselors aon cay of ihe week ‘sonsuttant Sou: WW Intemational Inc, Weigit Loss Servos in the U.S.” HsiSWord, aocessed November 10,2015; “Lose Wesght ‘Your Way.” Nutisycter, aovecsed Movernber 10,2013, awa nutreyslem compe, ‘wecras! 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