(REUTERS) Weight Watchers reported a 21 percent drop in quarterly revenue, undermining hopes that new investor and media mogul Oprah Winfrey would help boost sales, sending its shares down more than 27 percent in extended trading.
The company roped in Winfrey as its public face in October, in a bid to use her popularity to lift subscription numbers and reverse a nearly three-year decline in sales.
Winfrey, who made a $43.2 million investment for a 10 percent stake, was also added to the company's board.