Nutrisystem Company History Timeline

1972
Several months later, he opened a second center, and in September 1972 he discovered the concept's primary growth engine, selling the third center to a franchisee.
1972 Katz begins franchising his concept.
1977
In 1977 he changed the name to NutriSystem and recruited Jay Satz, a Ph.D. in microbiology who worked for the Pennsylvania state department of health.
1979
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.
1980
As it grew, the firm underwent several name changes, finally settling on Nutrisystem in 1980.
1981
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.
1982
Public expansion happened in the year 1982 and it became a 300 million public behemoth.
1983
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.
1984
In 1984, the company posted a 17.4 million-dollar loss.
1985
The company structure changed in the period between 1985-86 when Katz was bought out and a new CEO hired.
1985 A. Donald McCulloch is named chief executive officer after a tumultuous struggle between Katz and NutriSystem franchisees.
1986
His number two, Donald McCulloch, led a leveraged buyout in 1986 for 74 million.
1989
1989 NutriSystem, with roughly 1,800 weight-loss centers, generates nearly 800 million in revenue.
1990
By 1990, the company boasted 1,800 centers and 764 million in revenues.
By 1990 NutriSystem's 1.2 billion in sales nipped at the heels of diet leader Weight Watchers.
1995
In 1995 he and a college pal jumped into the Internet, cofounding VerticalNet, nasdaq VERTD - news - people a Horsham, Pa. collection of Web sites with news and online marketplaces for industries like garbage and water treatment.
1997
Nutri System sold its company-owned centers to Complete Wellness Weight Management, Inc. in 1997 and re-emerged as an e-commerce company with a new name, nutrisystem.com inc.
2000
In an effort to improve its financial health, the company purchased the Sweet Success product line from Nestl 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
Sweet Success was a diet meal replacement line distributed in traditional retail locations such as supermarkets, drugstores, and discount chains, but Nutri System executives decided to drop the product line four months after acquiring it, officially discontinuing it in June 2001.
2002
HJM Holdings and New Spring Ventures took control of Nutrisystem in 2002.
Since 2002, when Hagan took over a company then 30 years old, revenue has jumped from 28 million to 413 million, profit from 2.5 million to 55 million.
2003
2003 A new food line, NutriSystem Nourish, is introduced.
2004
The introduction of NutriSystem Nourish was followed by the acquisition of Slim and Tone, a franchiser of fitness centers, in late 2004.
2006
In 2006, hoping to tap into the 50-percent of the population their typical fare frightened, they launched their Nutrisystem for Men program.
2010
With these new avenues of growth, Nutrisystem seemed poised for success as it entered the 2010s.
2017
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.
2020
New for 2020, the Nutrisystem Personal Plans deliver weight loss of up to 13 pounds and 7 inches overall in your first month, up to 18 pounds and 10 inches overall in your first two months, and up to 22 pounds and 12 inches in your first three months.
Founded
1971
Company Founded
Headquarters
Philadelphia, PA
Company Headquarter
Founders
Harold Katz
Company Founders

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