WeightWatchers 2002 Annual Report Download - page 3

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Linda A. Huett
President and
Chief Executive Officer
Dear Shareholders
I am pleased to report that 2002,
our first full year as a public company,
was a great success.
2002 Operational Overview
Improvements in our operating metrics including revenues, margins and earn-
ings all speak to our outstanding performance. However, it is the passion and
dedication of our staff, which continues to grow throughout this organization,
that truly reflects our success and progress in executing our strategy.
Each week, approximately 1.5 million people worldwide are experiencing the
benefits of attending Weight Watchers meetings. The fact that meeting
attendance at company-owned operations was up 17.7%, from 47.0 million
in 2001 to 55.3 million attendances in 2002, means word is getting around.
People are losing weight, improving their health, discovering new energy
and feeling motivated to succeed. I am proud to report that in 2002 Weight
Watchers positively impacted the lives of more people than ever before in the
company’s 40-year history.
At the core of our business is the trusted Weight Watchers brand and the
unique relationship we have with our members. They recognize that our
approach to weight control is clinically proven and has stood the test of time
over the past four decades. They know that our programs and product
offerings continue to improve and evolve, meeting their changing needs and
lifestyles in this dynamic world. Leading this charge is an experienced group
of scientists advising us, constantly evaluating our programs and products
while monitoring the latest studies and health trends. Combined with the
support from our meetings and the trust inspired by our Leaders, consumers
know they are getting the very best from Weight Watchers. For example, in
a recent U.S. survey, when women who have never been to Weight Watchers
meetings were asked what the best weight loss method is, Weight Watchers
was cited five times more often than the next best method. This increased
to 18 times more than the next best method for those respondents who have
attended Weight Watchers meetings in the past.