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 announced that its management team will participate in investor meetings and a fireside chat at the Morgan Stanley Virtual Global Consumer & Retail Conference on November 30, 2021, at 1:40 PM EST. This event will provide insights into the company's performance and future strategies. Investors can access the webcast live or as an archived replay via the company's Investor Relations website. European Wax Center is a leading personal care brand, known for its expert waxing services across 833 centers nationwide as of September 2021.
European Wax Center, Inc. (EWCZ) announced the pricing of a public offering of 5,216,977 shares of Class A common stock, priced at $26.25 per share. This includes shares from selling stockholders affiliated with General Atlantic, L.P. The public offering is set to close on November 15, 2021. EWC will use the proceeds to acquire non-voting common units in EWC Ventures, LLC, with the selling stockholders receiving all proceeds from their share sales. Underwriters include Morgan Stanley and BofA Securities, among others.
European Wax Center announced a public offering of 5,216,977 shares of its Class A common stock, with 2,851,617 shares offered by selling stockholders affiliated with General Atlantic, L.P. The proceeds will be used to purchase non-voting common units in EWC Ventures, LLC. The offering also includes a 30-day option for underwriters to buy an additional 782,547 shares. EWC will retain no net proceeds from the offering, as selling stockholders will receive all proceeds from their shares. Morgan Stanley, BofA Securities, and Jefferies are the underwriters for the offering.
European Wax Center (NASDAQ: EWCZ) reported robust Q3 fiscal 2021 results, highlighting a 60.0% increase in system-wide sales to $219.1 million and a 10.6% rise in same-store sales compared to Q3 fiscal 2019. Total revenue surged 61.0% to $49.0 million. Despite a GAAP net loss of $9.3 million, adjusted net income reached $8.5 million, a significant improvement from prior periods. The company announced an optimistic fiscal 2021 outlook, raising targets for revenue, adjusted net income, and new center openings.
European Wax Center has launched the EWC Rewards program and a new improved Guest App, enhancing customer experience. Available at over 800 centers nationwide, the rewards program allows guests to earn 1 point for each dollar spent, redeemable for $10 rewards with every 200 points. Guests can also earn additional rewards through referrals and during their birthday month. The new app supports features like QuickBook, self-check-in, and digital guest forms to promote a contactless environment.
Wax Center Partners (WCP) has opened a new European Wax Center location in San Leandro, CA, marking its 19th center in operation. The franchise, which has expanded from 11 to 19 centers in a few months, is led by a partnership between Stieber EWC and MKH Capital Partners. To celebrate the opening, WCP is offering a 'Buy 3 Get 1 Free Wax Pass' promotion until October 31, 2021, alongside discounts for new guests. WCP aims for further expansion through new developments and acquisitions.
European Wax Center (NASDAQ: EWCZ) announced it will report its third quarter fiscal 2021 earnings on November 4, 2021, after market close. An investor conference call will follow at 5:00 PM ET to discuss the financial results. The company, with over 800 locations, is recognized for its innovative Comfort Wax™ and commitment to providing high-quality waxing services. Interested investors can access the call via a dedicated phone line or online webcast, with replays available for a limited period.
European Wax Center reported strong performance in Q2 fiscal 2021, with system-wide sales at $218.5 million, a 443% increase from Q2 fiscal 2020, and up 15% from Q2 fiscal 2019. Total revenue soared 343% to $47.9 million, net income improved to $7.7 million from a loss of $11.4 million in Q2 fiscal 2020. Adjusted EBITDA rose to $19.8 million, a significant turnaround. The company opened 41 new centers, expanding its reach to 815 locations. FY21 guidance anticipates total revenue between $173.0 million and $178.0 million.
The European Wax Center (NASDAQ: EWCZ) announced it will report second quarter fiscal 2021 earnings on September 14, 2021, after market close. An investor conference call is scheduled for 5:00 PM ET the same day, providing insights into the financial results. The company operates 808 centers across the U.S. and is known for its proprietary Comfort Wax™ and a complimentary wax for new guests, aiming to enhance the overall waxing experience. The investor call will be accessible via phone and webcast, with replays available for up to 90 days.
Wax Center Partners has expanded its presence in Texas by acquiring six European Wax Center (EWC) locations in the Dallas metro area, raising its total to 18 centers. This strategic acquisition aims to bolster its market share and enhance service quality for Dallas clients. The company, a collaboration between MKH Capital Partners and the Stieber franchise, operates an additional 12 centers in Northern California. Wax Center Partners is focused on future growth through both development and additional acquisitions, fostering a strong commitment to investing in culture and service excellence.
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