WW International formerly known as Weight Watchers says its shares have dived 25%.
Gatekeepers News reports that the firm after closing June with 4.9 million subscribers, down from 5 million last year said people have been putting diets on hold after the lockdown.
Boss Mindy Grossman added that part of this was a seasonal effect.
According to her, people are less worried about what they eat as they are out of their homes again.
Grossman said “While people are acknowledging their need for recommitting to weight loss and wellness, our recent consumer research shows that, at the moment, they’re also asking for a pause to enjoy social reconnection.
“With both traffic and search under pressure, this sentiment shift appears to be across the weight loss and wellness category.”
WW like other dieting companies benefited from the pandemic as consumers access them to get back into shape as they were stuck at home.
The pandemic forced many to add weight as they stopped going to work and increasingly turned to food and alcohol to manage stress.
In the three months to 30 June, the numbers of subscribers became flat in all its key markets, including the UK, North America, and the rest of Europe as sales of its branded products slipped 6.9%.
WW International which provides a weight-management programme and food plan to subscribers was founded in 1963 in New York City.
WW also makes money out of branded goods and services such as magazines and snacks and drinks.
Its high-profile ambassadors include comedian James Corden, actress Kate Hudson, and Oprah Winfrey, who bought a 10% stake in the company in 2015 and is a member of its board.
