Welcome to our dedicated page for European Wax Center news (Ticker: EWCZ), a resource for investors and traders seeking the latest updates and insights on European Wax Center stock.
European Wax Center, Inc. (NASDAQ: EWCZ) is recognized as the largest and fastest-growing franchisor and operator of out-of-home waxing services in the United States. Established in 2004 by Dave and Josh Coba, the company has redefined the waxing services industry by offering luxurious and consistent experiences across more than 1,000 locations in 45 states.
European Wax Center's mission centers on helping women feel confident and beautiful every day. This is achieved through the company's exclusive Comfort Wax® and the Four Steps to Gorgeous™ treatment, which includes cleansing, preparation, waxing, and rejuvenation. These treatments are designed to make waxing more efficient and relatively painless, using high-quality ingredients.
The company's impressive track record includes performing over 23 million services annually, generating sales close to $955 million in fiscal 2023. The brand's focus on guest experience and professional care is upheld by highly trained specialists who operate in clean, individual waxing suites. The company's innovative product line, including the award-winning EWC TREAT® Ingrown Hair Mist and Brightening Ingrown Hair Wipes, further enhances and extends waxing results.
European Wax Center's values drive its operations. These include caring for each other, doing the right thing, delighting guests, and having fun while being awesome. The company's commitment to these values has earned it the Great Place to Work® certification for two consecutive years, with 92% of associates affirming it as a great workplace.
Recent achievements include a fireside chat at the ICR Conference, significant fiscal 2023 results, and an outlook for continued growth in fiscal 2024. The company has also authorized a $50 million share repurchase program, illustrating confidence in its long-term strategy. For more details on the company's latest updates and how to receive your first wax free, visit their website.
European Wax Center (NASDAQ: EWCZ) has appointed Chris Morris as CEO and Chairman of the Board, effective January 8, 2025. Morris, who brings over 25 years of experience in consumer brands and franchise businesses, succeeds David Berg, who will remain on the Board. Morris previously served as CEO of Dave & Buster's, where he led the opening of 30 new locations and established international expansion.
Morris's prior roles include CEO of Main Event and president of California Pizza Kitchen, where he demonstrated success in revenue growth and brand revitalization. The company has reaffirmed its fiscal 2024 outlook previously announced on November 14, 2024.
European Wax Center (NASDAQ: EWCZ) announced its management team will participate in the Morgan Stanley 2024 Global Consumer & Retail Conference at the Intercontinental Barclay in New York on December 3, 2024. The company will hold a fireside chat at 2:15 PM EST. As the leading franchisor of out-of-home waxing services in the United States, EWCZ operates over 1,000 centers across 45 states, performing more than 23 million services annually. The company generated sales of $955 million in fiscal 2023.
European Wax Center (NASDAQ: EWCZ) has been awarded 'Best Nationwide Waxing Studio' in SHAPE's 2024 Beauty Awards. The recognition comes from SHAPE's extended beauty awards focusing on aesthetic treatments and services. European Wax Center, with over 1,000 locations nationwide, recently expanded its service portfolio with Eyebrow Tint, receiving positive guest feedback on its FDA-compliant formula. The company is known for its expertly trained estheticians, proprietary Comfort Wax®, and award-winning product line.
European Wax Center (NASDAQ: EWCZ) reported Q3 fiscal 2024 results showing mixed performance. The company experienced a 0.5% decrease in same-store sales and total revenue declined 0.5% to $55.4 million. Net income dropped 50.7% to $2.0 million, while Adjusted EBITDA decreased 4.4% to $18.4 million. The company maintains its fiscal 2024 financial outlook but updated its net new center projections to 17-22 openings, down from previous guidance of 27-32. System-wide sales reached $240.2 million, showing a slight decrease of 0.2%. The company ended Q3 with 1,064 centers across 45 states, representing a 3.7% increase year-over-year.
European Wax Center (NASDAQ: EWCZ) has announced it will release its third quarter fiscal year 2024 financial results before market opens on November 14, 2024. Management will host a conference call at 8:00 a.m. ET to discuss the results. The company, which operates over 1,000 centers across 45 states, is the largest franchisor of out-of-home waxing services in the US. The network generated sales of $955 million in fiscal 2023 and performs more than 23 million services annually.
European Wax Center, Inc. (NASDAQ: EWCZ) has climbed 11 spots to secure the No. 80 position in Franchise Times' Top 400 Ranking of the largest U.S.-based franchise systems by global systemwide sales. As the largest and fastest-growing franchisor of out-of-home waxing services in the United States, European Wax Center's improved ranking reflects its continued growth and success in the franchise industry.
CEO David Berg attributes this achievement to the dedication of their franchise partners and emphasizes the company's commitment to providing comprehensive support. European Wax Center remains focused on expanding its nationwide footprint, enhancing customer experience, and driving financial performance for franchisees as part of its strategy to deliver sustainable growth and value for shareholders.
European Wax Center (NASDAQ: EWCZ) announced strategic updates to drive growth and profitability. Key points include:
1. New partnership with Dolabra Digital to enhance guest acquisition, engagement, and loyalty.
2. Realignment of Commercial and Field Operations teams to support key initiatives and franchisees.
3. Pausing expansion of laser hair removal pilot beyond existing New York centers.
4. Senior VP of Marketing Michael Brister to lead Commercial function.
5. Reorganization of Field Operations team to improve four-wall performance.
6. Reaffirmation of fiscal 2024 outlook.
These measures aim to streamline operations, focus on core waxing business, and position the company for sustainable, long-term growth.
European Wax Center, Inc. (NASDAQ: EWCZ), the leading franchisor of out-of-home waxing services in the US, announced its participation in the 2024 Piper Sandler Growth Frontiers Conference. The event will take place on September 10, 2024, at the Virgin Hotel in Nashville, Tennessee. The company's management team will engage in a fireside chat at 9:00 AM EST.
European Wax Center operates over 1,000 centers across 45 states, performing more than 23 million services annually. The company generated sales of $955 million in fiscal 2023. Known for its innovative Comfort Wax® formula and proprietary products, European Wax Center aims to provide an efficient and relatively painless waxing experience.
European Wax Center, Inc. (NASDAQ: EWCZ) reported its Q2 fiscal 2024 results, showing mixed performance. The company experienced 2.3% growth in system-wide sales to $260.2 million and a 1.3% increase in total revenue to $59.9 million. Same-store sales rose by 1.6%, while net new centers increased by 5.6% to 1,059 total centers across 45 states. GAAP net income grew by 7.3% to $6.0 million, and adjusted net income increased by 4.0% to $7.3 million. However, adjusted EBITDA decreased by 2.6% to $20.6 million.
The company also announced the appointment of David Berg as CEO and updated its fiscal 2024 outlook, reducing expectations for new center openings and financial performance due to macroeconomic pressures affecting consumer spending and new guest acquisition.
European Wax Center (NASDAQ: EWCZ) has appointed David Berg as Chief Executive Officer, effective August 12, 2024. Berg, who has served as Executive Chairman since September 2023, replaces David Willis. Berg previously held the CEO position from 2018 to 2023, during which time he:
- Expanded the company from nearly 700 to over 1,000 centers
- Led the company through its successful IPO in 2021
- Increased network sales at double-digit rates
- More than doubled bottom-line performance
- Consistently met or exceeded earnings guidance
- Returned over $200 million to shareholders through dividends and share repurchases
The Board expressed confidence in Berg's ability to drive sustained growth and shareholder returns. Berg emphasized the company's strong market position, growth potential, and consistent revenue model as key factors for future success.
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