WeightWatchers 2005 Annual Report Download - page 3
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Dear Shareholders,
In this year’s annual report, we have highlighted weight loss
success stories from Audrey, Andrew and Christina. I would
like to thank them for giving us the opportunity to tell their
stories. I would also like to thank all of our other successful
members and subscribers, as their stories continue to make
our business meaningful and fulfi lling.
At Weight Watchers®, we celebrate the success and triumphs
of each of our members and subscribers in their weight loss
journeys because they are a testament to the effectiveness
of our weight loss plans. When our customers successfully
lose weight, people notice. Family members, friends, col-
leagues and acquaintances inquire about how they achieved
such amazing results. The answer is Weight Watchers.
Linda Huett
President and
Chief Executive Offi cer
This powerful witness to success and corresponding referral
process is an integral part of why Weight Watchers has con-
tinued to grow and evolve as the world’s leading provider of
weight-loss management for over 40 years.
The past year was a continuation of that story. In 2005, we
remained steadfast in our core beliefs and approaches to
weight management, while further developing a host of
product enhancements and innovative services that build on
our market leadership, expand our audiences and strength-
en our outlook over the long-term.
In 2005, we generated over $1.15 billion in total revenue,
up 12.3% over 2004. In addition to double digit revenue
growth, we achieved gross margin expansion of 230 basis
points, further demonstrating the strength of our business
model.
Underpinning our success is the unrivaled effi cacy of our
products and services. With the continued rise in worldwide
obesity, people of all cultures continue to search for help in
achieving their weight loss goals. Weight Watchers remains
the only commercial weight management plan whose ef-
fi cacy is clinically proven. The core of our strategy is to fur-
ther strengthen our scientifi cally based weight management
approaches, while seeking complimentary channels that ex-
pand our audiences and accelerate our growth potential.
Our meetings business remains our core approach because
attending a Weight Watchers meeting is a time proven
method of helping our members lose weight. In 2005, with
Letter to Shareholders