Jenny Craig to Offer Lower-Cost Food

Jenny Craig Inc., which has seen its stock drop 20% in the last year, said it will offer a new lower-priced line of prepackaged meal supplements in a bid to attract new customers. The meal supplement plans, which include high-protein hot and cold breakfast drinks, soups and high-fiber beverages, start at about $40 a week. Until now, members had been paying an average of $72 a week for the company’s prepackaged meal plans. Members will now be required to choose one of the food options. The company said it hopes the new meal plans will appeal to working women because they are portable and preparation usually only requires adding hot water, spokesman Brian Luscomb said. Food sales account for 90% of Jenny Craig revenue. The company’s sales fell 4% to $352.3 million for the year ended June 30. Jenny Craig has reeled in recent years from a series of legal battles, including a class-action shareholder lawsuit, and competition from prescription weight-loss drugs and other commercial diet programs. Jenny Craig stock was unchanged at $6 on the New York Stock Exchange.