Weight-Loss Companies Anticipate Banner Year

Diet and weight-loss companies see sales leap as people start their New Year’s resolutions for 2021, according to the New York Post. A stark contrast to the losses early in the COVID-19 pandemic, polls suggest sales come from consumers trying to lose weight gained due to stress eating and limited activity in 2020—dubbed the “Quarantine 15.” According to a WebMD poll, 47 percent of women readers and 22 percent of men gained weight “due to COVID restrictions.” Publicly held Medifast was one of the companies hit hard when lock-down started. However, Doug Lane, principal analyst at Lane Research, says the company’s sales went up 43 percent to $271 million in the quarter ended Sept. 30, 2020, beating Wall Street’s expectations of $240.6 million. Stock went up a total of 85 percent for the year.