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) announced that its EWC TREAT® Brightening Ingrown Hair Wipes have won the 2024 Men's Health Grooming Award in the 'Best Ingrown Treatment' category. This marks the second consecutive year the company has been recognized by Men's Health editors. The wipes, formulated with vitamin C, azelaic, kojic, and lactic acids, help brighten skin and prevent ingrown hairs. Launched earlier this year, the product has quickly become popular for its convenience and effectiveness. Retailing at $34.50, the wipes are available at all European Wax Center locations, waxcenter.com, and Amazon.com.
European Wax Center (NASDAQ: EWCZ), the largest franchisor and operator of out-of-home waxing services in the U.S., announced its participation in the Baird 2024 Global Consumer, Technology & Services Conference at the InterContinental New York Barclay hotel on June 5, 2024. Management will engage in a fireside chat at 10:15 AM EST, with a webcast link available on the company's investor website. European Wax Center operates over 1,000 centers across 45 states, conducting more than 23 million services annually. The company generated $955 million in sales in fiscal 2023 and is noted for its innovative Comfort Wax® and proprietary waxing products. Founded in 2004 and headquartered in Plano, Texas, European Wax Center emphasizes values such as care, integrity, guest satisfaction, and a fun work environment.
European Wax Center (NASDAQ: EWCZ) has received the 2024 Cosmopolitan Holy Grail Beauty Award for its EWC TREAT® Brightening Ingrown Hair Wipes, recognized as the 'Best Treatment for Ingrowns'.
Featured in Cosmopolitan's May print issue and online, these wipes combine Brightening Ingrown Hair Serum and Ingrown Hair Wipes to combat ingrown hairs and dark spots using a blend of vitamin C, azelaic acid, kojic acid, lactic acid, glycolic acid, and salicylic acid.
Dermatologist-tested, they can be used daily on all areas of the body pre and post hair removal. Priced at $34.50, they are available at European Wax Center locations and online.
Chief Commercial Officer Andrea Wasserman emphasized the brand's commitment to innovative, consumer-loved products that meet industry standards.
European Wax Center (NASDAQ: EWCZ) reported its first quarter fiscal 2024 results, showcasing a 4% increase in total revenue to $51.9 million and a net income of $3.7 million, reversing a net loss of $1.1 million from the prior year. Adjusted net income rose 41.3% to $4.8 million, while Adjusted EBITDA increased 7.4% to $17.5 million. System-wide sales grew 1.3% to $221.4 million, despite a decrease in same-store sales by 1.2%. The company also announced a $50 million share repurchase program and reiterated its fiscal 2024 guidance. Key figures include $60.4 million in cash, $6.5 million in restricted cash, and $393 million in borrowings.
The company remains confident in its growth, driven by new center openings and continued franchisee demand. CEO David Willis highlighted stable guest frequency and spending as factors for positive performance, along with strategic initiatives aimed at increasing guest engagement and ticket sizes.
European Wax Center, Inc. (NASDAQ: EWCZ) will report first quarter fiscal year 2024 financial results on May 15, 2024. The company is the largest franchisor of out-of-home waxing services in the US, offering a professional personal care experience. With over 1,000 centers in 45 states, generating $955 million in sales in fiscal 2023, European Wax Center continues to revolutionize the waxing industry with its Comfort Wax® and proprietary products.
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