Business Write-Down of up-to $5 Million Expected by Nutisystem for Fourth Quarter
For the current financial year's fourth quarter, Nutrisystem Inc. is expecting business write downs of up-to $5 Million on its business of fresh food delivery. The business serves the entire New York area.
After a year of recording successful growth, the weight-management and fitness products provider was badly hurt by during one of the worst ever global recessions. In October, Nutrisystem posted a third-quarter earnings report which managed to beat estimates pegged by analysts, on the back of customer trends showing definite signs of stabilizing.
Also, the firm has taken effective steps to increase its footprint, which have included substantial developments over recent months, particularly the introduction of sales of program cards in Walgreen Co. stores and Wal-Mart Stores, with the aim to lure new customers.
On Monday, the company's shares closed at $32.92. Up until so far this year, the stock of the firm has almost doubled in value.