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The web now represents nearly 30% of total sales.
Online sales and new subscribers were up in the second quarter for diet products retailer Weight Watchers International Inc., but total sales and net income declined.
For the three months ending June 30, Weight Watchers, No. 61 in the Internet Retailer Top 500 Guide, reported:
- Web sales of $135.6 million, up 28.3% from $105.7 million in the second quarter of last year.
- The number of active online subscribers increased about 27.8% to 2.3 million from 1.8 million.
- Total sales of $484.8 million, a 0.2% drop compared with $486.0 million last year.
- Net income of $77.5 million, a 10.9% decrease from $87.0 million.
Online sales accounted for 28.0% of total revenue in the second quarter, compared with 21.7% last year.
For the first six months, Weight Watchers reported:
- Internet revenue of $262.5 million, a 32.8% increase from $197.6 million in the first half of last year.
- Total sales were $988.3 million, a 0.1% decline from $989.4 million.
- Net income was $132.1 million, a 17.4% decrease from $160.0 million.
Web sales represented 26.6% of total sales in the first half of the year, compared with 20.0% in 2011.
"Second quarter 2012 results were in line with our expectations,” says David Kirchhoff, president and CEO. "Yet, since June we have seen a weakening in our trends so we are taking a more cautious view of our business for the second half of the year in light of difficult macro-economic trends, particularly in consumer sentiment.”