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Nutrisystem history
Nutrisystem company history timeline
1972: Katz begins franchising his concept.
Nutrisystem was founded in the year 1972.
Beginning in 1979, Nutri/System began a four-year period that would see the company record revenue growth at a compound annual rate of 82 percent.
As it grew, the firm underwent several name changes, finally settling on Nutrisystem in 1980.
Katz took the company public during this period, debuting on the over-the-counter exchange in January 1981, before moving to the more prestigious New York Stock Exchange.
In August 1981, he acquired a Philadelphia-based executive placement firm named Fox-Morris Associates, paying $4.2 million for the company.
1981: NutriSystem debuts as a publicly traded company.
Glycemic index (GI)— A system devised at the University of Toronto in 1981 that ranks carbohydrates in individual foods on a gram-for-gram basis in regard to their effect on blood glucose levels in the first two hours after a meal.
After opening themselves to public investment in 1982, Nutrisystem quickly grew into a $300 million company.
Senior Nutri/System officials began selling large amounts of stock they held in the company, beginning in January 1983 when Katz sold 670,000 shares.
In mid-March 1983, nine days after the sale of stock by senior executives ended, the company announced its earnings for the third quarter would drop by as much as $1.8 million, a revelation that led shareholders to file a class-action lawsuit against the company.
In 1984, the company posted a $17.4 million-dollar loss.
Realizing that his company was careening towards a cliff, Katz stepped down as CEO in 1985.
In 1986, the Katz era came to an end.
Here is a great Nutrisystem Ad from 1989.
By 1990, the company boasted 1,800 centers and $764 million in revenues.
Click Here for a Nutrisystem ad from 1992.
In mid-1993, the company succumbed to the forces against it, operating as a debtor in possession under Chapter 11 of the United States Bankruptcy Code until it was discharged the following year.
1997: The company decides to sell its weight-loss centers and focus on the growth of an Internet-based business.
The company's web site launched in 1999, beginning a new era for the Nutri/System diet plan.
In the year 1999, the company had moved to a direct-to-consumer business model, selling its products and programs on the internet and also through a call centre as well.
In an effort to improve its financial health, the company purchased the Sweet Success product line from Nestlé USA. Inc. in August 2000, just before it changed its corporate title to Nutri/System, Inc.
In 2000, the first full year of Internet-based sales, the company generated $20 million in revenue, a total that was nearly matched by the $14 million it lost during the year.
2001: NutriSystem brokers a distribution agreement with QVC, Inc.
HJM Holdings and New Spring Ventures took control of Nutrisystem in 2002.
2003: A new food line, NutriSystem Nourish, is introduced.
2004: The company acquires Slim and Tone, a franchiser of fitness centers.
Kiley, David. ‘‘My Dinner with NutriSystem.’’ Business Week, September 19, 2005, 84.
A 2005 article in Business Week reported that the company’s own chief dietitian acknowledges that some of the items are less than delectable.
In 2006, hoping to tap into the 50-percent of the population their typical fare frightened, they launched their Nutrisystem for Men program.
In 2006 it began to target men as customers, using endorsements from such well-known professional athletes as John Kruk, Don Shula, and Dan Martino.
As of 2007 NutriSystem has about 800,000 customers in the United States and Canada.
The company’s market value was estimated at $2 billion as of early 2007.
As of early 2007, the six subprograms are:
As of early 2007, the company is offering 7 days’ worth of meals with the first 28-day package.
In the year 2010, the company's mobile platform was also launched, even though there were allegations that the company had stolen the technology from WebDiet - which was a Silicon Valley startup.
With these new avenues of growth, Nutrisystem seemed poised for success as it entered the 2010s.
Since being brought on in 2012, Zier has seen stock values increase by more than 600 percent.
As the year 2014, there was evidence which was lacking that Nutrisystem products help with long-term weight loss.
Isnapn 2017, the company boasted revenues of almost 700 million dollars.
The company was named one of the fastest growing companies in America by Fortune in 2017.
"Nutrisystem ." The Gale Encyclopedia of Diets: A Guide to Health and Nutrition. . Retrieved June 21, 2022 from Encyclopedia.com: https://www.encyclopedia.com/science/encyclopedias-almanacs-transcripts-and-maps/nutrisystem
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Nutrisystem competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Vudu | 2004 | - | 180 | - |
| PepsiCo | 1898 | $91.9B | 267,000 | 567 |
| Nathan's Famous | 1916 | $138.6M | 146 | 4 |
| Fresh Direct Holdings Inc | 2000 | $378.6M | 1,800 | 42 |
| Walgreens | 1901 | - | 210,500 | 20,028 |
| Wendy's | 1969 | $2.2B | 12,500 | 2,324 |
| EC-Council | 2000 | $49.9M | 960 | 47 |
| Pinnacle Foods Group LLC | 1998 | $3.1B | 4,900 | - |
| Weight Watchers International, Inc. | 1963 | $785.9M | 7,700 | 8 |
| Medifast | 1980 | $602.5M | 713 | 5 |
Nutrisystem history FAQs
Zippia gives an in-depth look into the details of Nutrisystem, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Nutrisystem. The employee data is based on information from people who have self-reported their past or current employments at Nutrisystem. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Nutrisystem. The data presented on this page does not represent the view of Nutrisystem and its employees or that of Zippia.
Nutrisystem may also be known as or be related to NutriSystem, Inc., Nutrisystem, Nutrisystem Inc and Nutrisystem, Inc.