Remember, 25% of my portfolio is in Weight Watchers (WTW).
An analyst asked a great question in the latest conference call:
How do you think about the growth rate for Weight Watchers? You got this tremendous market opportunity yet the key metric of measurements i.e. attendance, hasn't really grown for the better part of a decade. You got high margins, strong cash flows, much of which goes to de-leverage the company, which is in part, reflective of your majority owners action. How do you think about the growth profile of Weight Watchers on a going forward basis with those inputs?
I think it frames the situation perfectly.