European Wax Center, Inc. Provides Update Ahead of the 2025 ICR Conference
European Wax Center (NASDAQ: EWCZ) provided updates on its fiscal 2024 performance, reporting 23 net new center openings, exceeding their previous guidance of 17-22. The company achieved this through 43 gross new openings and 20 closures.
The company revised its fiscal 2024 outlook, projecting system-wide sales of $947-950 million and same-store sales growth of 0.0% to 0.2%. They maintained their previous guidance for total revenue ($216-221 million), Adjusted Net Income ($19-22 million), and Adjusted EBITDA ($70-74 million).
During Q4, EWCZ repurchased approximately 1.6 million shares for $10.0 million, bringing total buybacks to $40.1 million of the authorized $50.0 million program. The company noted strong fourth quarter Wax Pass sales and continued guest loyalty, with final audited results expected in March 2025.
European Wax Center (NASDAQ: EWCZ) ha fornito aggiornamenti sulle sue performance fiscali per il 2024, riportando 23 nuove aperture di centri, superando la precedente guida di 17-22. L'azienda ha raggiunto questo risultato attraverso 43 nuove aperture lorde e 20 chiusure.
L'azienda ha rivisto le sue previsioni fiscali per il 2024, prevedendo vendite complessive di 947-950 milioni di dollari e una crescita delle vendite nei negozi comparabili dello 0,0% al 0,2%. Ha mantenuto le precedenti indicazioni per il fatturato totale (216-221 milioni di dollari), l'utile netto rettificato (19-22 milioni di dollari) e l'EBITDA rettificato (70-74 milioni di dollari).
Nella Q4, EWCZ ha riacquistato circa 1,6 milioni di azioni per 10,0 milioni di dollari, portando il totale dei riacquisti a 40,1 milioni di dollari dell'autorizzato programma di 50,0 milioni di dollari. L'azienda ha notato forti vendite di Wax Pass nel quarto trimestre e una continua fedeltà dei clienti, con i risultati finali auditati attesi per marzo 2025.
European Wax Center (NASDAQ: EWCZ) proporcionó actualizaciones sobre su desempeño fiscal 2024, reportando 23 nuevas aperturas de centros, superando su guía previa de 17-22. La empresa logró esto a través de 43 aperturas brutas y 20 cierres.
La empresa revisó su pronóstico fiscal 2024, proyectando ventas totales de $947-950 millones y un crecimiento de ventas en tiendas comparables de 0.0% a 0.2%. Mantuvieron su guía anterior para ingresos totales ($216-221 millones), Ingreso Neto Ajustado ($19-22 millones) y EBITDA Ajustado ($70-74 millones).
Durante el cuarto trimestre, EWCZ recompró aproximadamente 1.6 millones de acciones por $10.0 millones, llevando el total de recompras a $40.1 millones del programa autorizado de $50.0 millones. La empresa destacó fuertes ventas de Wax Pass en el cuarto trimestre y una continua lealtad de los clientes, con resultados finales auditados esperados para marzo de 2025.
유럽 왁스 센터 (NASDAQ: EWCZ)는 2024 회계연도 성과에 대한 업데이트를 제공하며 새로운 센터 23곳의 순 개설을 보고하여 이전 안내한 17-22곳을 초과했습니다. 이 회사는 43개의 총 신규 개설과 20개의 폐쇄를 통해 이룩했습니다.
회사는 2024 회계연도 전망을 수정하여 시스템 전체 매출을 $947-950 백만, 기존 매장 매출 성장률을 0.0%에서 0.2%로 예측했습니다. 총 수익($216-221 백만), 조정된 순이익($19-22 백만), 조정된 EBITDA($70-74 백만)에 대한 이전 안내를 유지했습니다.
4분기 동안 EWCZ는 약 160만 주를 $1000만에 재매입했습니다, 총 재매입액은 허가된 $5000만 프로그램의 $4010만에 달합니다. 회사는 4분기 동안 강력한 Wax Pass 매출과 계속되는 고객 충성도를 주목했으며, 최종 감사 결과는 2025년 3월에 예상됩니다.
European Wax Center (NASDAQ: EWCZ) a fourni des mises à jour sur sa performance financière pour l'exercice 2024, annonçant 23 nouvelles ouvertures de centres, dépassant ainsi son précédent objectif de 17 à 22. L'entreprise a atteint cela grâce à 43 nouvelles ouvertures brutes et 20 fermetures.
L'entreprise a révisé ses prévisions pour l'exercice 2024, s'attendant à un chiffre d'affaires global de 947-950 millions de dollars et une croissance des ventes des mêmes magasins de 0,0% à 0,2%. Elle a maintenu ses précédentes prévisions pour le chiffre d'affaires total (216-221 millions de dollars), le revenu net ajusté (19-22 millions de dollars) et l'EBITDA ajusté (70-74 millions de dollars).
Au cours du quatrième trimestre, EWCZ a racheté environ 1,6 million d'actions pour 10,0 millions de dollars, portant le total des rachats à 40,1 millions de dollars du programme autorisé de 50,0 millions de dollars. L'entreprise a noté de fortes ventes de Wax Pass au quatrième trimestre et une fidélité continue des clients, avec les résultats finaux audités attendus en mars 2025.
European Wax Center (NASDAQ: EWCZ) hat Updates zu seiner finanziellen Leistung für 2024 bereitgestellt und berichtet von 23 neuen Centereröffnungen, was die vorherige Prognose von 17-22 übertrifft. Das Unternehmen erreichte dies durch 43 brutto neue Eröffnungen und 20 Schließungen.
Das Unternehmen hat seine Prognose für das Geschäftsjahr 2024 überarbeitet und erwartet systemweite Verkaufszahlen von $947-950 Millionen sowie ein Wachstum der Same-Store-Verkäufe von 0,0% bis 0,2%. Die vorherige Prognose für den Gesamtumsatz (216-221 Millionen Dollar), bereinigtes Nettoeinkommen (19-22 Millionen Dollar) und bereinigtes EBITDA (70-74 Millionen Dollar) wurde beibehalten.
Im vierten Quartal hat EWCZ etwa 1,6 Millionen Aktien für 10,0 Millionen Dollar zurückgekauft, was den Gesamtbetrag der Rückkäufe auf 40,1 Millionen Dollar des genehmigten Programms von 50,0 Millionen Dollar bringt. Das Unternehmen berichtete von starken Wax Pass-Verkäufen im vierten Quartal und einer anhaltenden Kundenloyalität, mit den endgültigen geprüften Ergebnissen, die für März 2025 erwartet werden.
- Exceeded net new center openings guidance with 23 locations vs. 17-22 expected
- System-wide sales tracking toward high end of guidance at $947-950 million
- Same-store sales outlook improved to 0.0% to 0.2% from previous -1.5% to 0.5%
- Strong share repurchase execution with $40.1 million completed of $50 million authorization
- 20 center closures during fiscal 2024
- Flat same-store sales growth indicating minimal organic growth
- No changes to revenue and earnings guidance despite improved system-wide sales outlook
Insights
European Wax Center's fiscal 2024 update reveals several positive indicators despite challenging market conditions. System-wide sales are tracking toward the high end of guidance at
The
The 43 gross openings offset by 20 closures warrants attention - while expansion continues, the closure rate signals some market saturation or operational challenges in certain locations. The sustained Wax Pass sales and core guest loyalty provide recurring revenue stability, though new guest acquisition remains a focus area for growth.
The out-of-home waxing services market shows resilience through EWCZ's performance metrics. With over 1,000 centers across 45 states and 23 million annual services, the company maintains dominant market position. The revised same-store sales guidance, while modest, suggests stabilization in consumer spending patterns for personal care services.
Strong Q4 Wax Pass sales indicate effective customer retention strategies and validate the subscription-based revenue model. The company's investment in laser hair removal signals strategic diversification to capture additional market share in the broader personal care segment. The 43 new center openings demonstrate continued market opportunity, though the 20 closures highlight the importance of careful site selection and operational execution.
Reports fiscal 2024 net new center openings
Updates fiscal 2024 financial outlook
PLANO, Texas, Jan. 13, 2025 (GLOBE NEWSWIRE) -- Today, European Wax Center, Inc. (NASDAQ: EWCZ), the leading franchisor and operator of out-of-home waxing services in the United States, provides an update on fiscal 2024 expected performance ahead of meetings at the 2025 ICR Conference in Orlando, Florida.
Stacie Shirley, Chief Financial Officer of European Wax Center, Inc., stated: “We are pleased to share our expectations for solid full year results, including 23 net new center openings. We anticipate system-wide sales near the high end of our previous outlook driven by strong fourth quarter Wax Pass sales and the continued loyalty of our core guests. We remain focused on our action plans to drive new guests and tickets, and we look forward to sharing progress updates on our fourth quarter earnings call.”
Chris Morris, Chairman and Chief Executive Officer of European Wax Center, Inc., continued: “I am excited to officially lead European Wax Center and build upon the momentum established by David Berg and the leadership team. While it is only my first week, it is clear we are well positioned to further leverage our simple yet compelling business model to generate sustained growth, strong free cash flow and long-term value for our stakeholders. I look forward to hearing from our franchisees, associates and shareholders over the coming weeks and sharing more about my observations and priorities in March.”
Fiscal 2024 Results and Outlook(1)
The Company reports 23 net new center openings in fiscal 2024, above its previous outlook of 17 to 22, comprised of 43 gross new center openings and 20 closures.
The Company updates its previous fiscal 2024 outlook for the following metrics:
| Fiscal 2024 Outlook (Current) | Fiscal 2024 Outlook (Previous) | |
| System-Wide Sales | ||
| Same-Store Sales | (1.5)% to | |
The Company reiterates its previous fiscal 2024 outlook for the following metrics:
| Fiscal 2024 Outlook (Current) | ||
| Total Revenue | ||
| Adjusted Net Income(2) | ||
| Adjusted EBITDA(3) | ||
The Company also repurchased approximately 1.6 million shares for
The Company notes that its fiscal 2024 financial results are subject to quarter and year-end closing procedures, including a financial statement audit. The Company expects to publish its audited financial results for the fiscal year ended January 4, 2025 in March 2025.
Management is scheduled to participate in meetings at the 2025 ICR Conference today, January 13, 2025.
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(1) Fiscal 2022 and Fiscal 2023 each included a 53rd week in the fourth quarter. The Company estimates the 53rd week contribution to the top and bottom line is approximately equal to the contribution from an average fourth quarter week.
(2) Adjusted net income outlook assumes an effective tax rate of approximately
(3) Adjusted EBITDA outlook includes up to
About European Wax Center, Inc.
European Wax Center, Inc. (NASDAQ: EWCZ) is the leading franchisor and operator of out-of-home waxing services in the United States. European Wax Center locations perform more than 23 million services per year, providing guests with an unparalleled, professional personal care experience administered by highly trained wax specialists within the privacy of clean, individual waxing suites. The Company continues to revolutionize the waxing industry with its innovative Comfort Wax® formulated with the highest quality ingredients to make waxing a more efficient and relatively painless experience, along with its collection of proprietary products to help enhance and extend waxing results. By leading with its values – We Care About Each Other, We Do the Right Thing, We Delight Our Guests, and We Have Fun While Being Awesome – the Company is proud to be Certified™ by Great Place to Work®. European Wax Center, Inc. was founded in 2004 and is headquartered in Plano, Texas. Its network, which now includes more than 1,000 centers in 45 states, generated sales of
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this press release include but are not limited to European Wax Center, Inc.’s strategy, outlook and growth prospects, its operational and financial outlook for fiscal 2024, its capital allocation strategy and its long-term targets and algorithm, including but not limited to statements under the heading “Fiscal 2024 Results and Outlook” and statements by European Wax Center’s executives. Words including “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “will,” or “would,” or, in each case, the negative thereof or other variations thereon or comparable terminology are intended to identify forward-looking statements. In addition, any statements or information that refer to expectations, beliefs, plans, projections, objectives, performance or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking.
These forward-looking statements are based on current expectations and beliefs. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause the Company’s actual results, performance or achievements to be materially different results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to: the operational and financial results of its franchisees; the ability of its franchisees to enter new markets, select appropriate sites for new centers or open new centers; the effectiveness of the Company’s marketing and advertising programs and the active participation of franchisees in enhancing the value of its brand; the failure of its franchisees to participate in and comply with its agreements, business model and policies; the Company’s and its franchisees’ ability to attract and retain guests; the effect of social media on the Company’s reputation; the Company’s ability to compete with other industry participants and respond to market trends and changes in consumer preferences; the effect of the Company’s planned growth on its management, employees, information systems and internal controls; the Company’s ability to retain of effectively respond to a loss of key executives; a significant failure, interruptions or security breach of the Company’s computer systems or information technology; the Company and its franchisees’ ability to attract, train, and retain talented wax specialists and managers; changes in the availability or cost of labor; the Company’s ability to retain its franchisees and to maintain the quality of existing franchisees; failure of the Company’s franchisees to implement business development plans; the ability of the Company’s limited key suppliers, including international suppliers, and distribution centers to deliver its products; changes in supply costs and decreases in the Company’s product sourcing revenue; the Company’s ability to adequately protect its intellectual property; the Company’s substantial indebtedness; the impact of paying some of the Company’s pre-IPO owners for certain tax benefits it may claim; changes in general economic and business conditions; the Company’s and its franchisees’ ability to comply with existing and future health, employment and other governmental regulations; complaints or litigation that may adversely affect the Company’s business and reputation; the seasonality of the Company’s business resulting in fluctuations in its results of operations; the impact of global crises on the Company’s operations and financial performance; the impact of inflation and rising interest rates on the Company’s business; the Company’s access to sources of liquidity and capital to finance its continued operations and growth strategy and the other important factors discussed under the caption “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended January 6, 2024 filed with the Securities and Exchange Commission (the “SEC”), as such factors may be updated from time to time in its other filings with the SEC, accessible on the SEC’s website at www.sec.gov and Investors Relations section of the Company’s website at www.waxcenter.com.
These and other important factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any forward-looking statement that the Company makes in this press release speaks only as of the date of such statement. Except as required by law, the Company does not have any obligation to update or revise, or to publicly announce any update or revision to, any of the forward-looking statements, whether as a result of new information, future events or otherwise.
Disclosure Regarding Non-GAAP Financial Measures
In addition to the financial measures presented in this release in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”), the Company has included certain non-GAAP financial measures in this release, including Adjusted EBITDA and Adjusted net income. Management believes these non-GAAP financial measures are useful because they enable management, investors, and others to assess the operating performance of the Company.
We define EBITDA as net income (loss) before interest, taxes, depreciation and amortization. We believe that EBITDA, which eliminates the impact of certain expenses that we do not believe reflect our underlying business performance, provides useful information to investors to assess the performance of our business.
We define Adjusted EBITDA as net income (loss) before interest, taxes, depreciation and amortization, adjusted for the impact of certain additional non-cash and other items that we do not consider in our evaluation of ongoing performance of our core operations. These items include non-cash equity-based compensation expense, non-cash gains and losses on remeasurement of our tax receivable agreement liability, contractual cash interest on our tax receivable agreement liability, transaction costs and other one-time expenses and/or gains.
We define Adjusted net income (loss) as net income (loss) adjusted for the impact of certain additional non-cash and other items that we do not consider in our evaluation of ongoing performance of our core operations. These items include non-cash equity-based compensation expense, debt extinguishment costs, non-cash gains and losses on remeasurement of our tax receivable agreement liability, contractual cash interest on our tax receivable agreement liability, transaction costs and other one-time expenses and/or gains.
This release includes forward-looking guidance for certain non-GAAP financial measures, including Adjusted EBITDA and Adjusted net income. These measures will differ from net income (loss), determined in accordance with GAAP, in ways similar to those described in the reconciliations at the end of our earnings releases. We are not able to provide, without unreasonable effort, guidance for net income (loss), determined in accordance with GAAP, or a reconciliation of guidance for Adjusted EBITDA and Adjusted net income (loss) to the most directly comparable GAAP measure because the Company is not able to predict with reasonable certainty the amount or nature of all items that will be included in net income (loss).
Investor Contact
European Wax Center, Inc.
Bethany Johns
Bethany.Johns@myewc.com
469-270-6888
Media Contact
Zeno Group
Shannon Powell
shannon.powell@zenogroup.com
312-752-6851
FAQ
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