European Wax Center, Inc. - EWCZ STOCK NEWS

European Wax Center (NASDAQ: EWCZ) announced recognition as one of the Fastest-Growing Franchises by Entrepreneur, ranking 30 out of 1,321. The 2023 ranking reflects franchise unit growth from July 2021 to July 2022. In 2022, EWCZ opened 91 net new centers, achieving a total of 944 centers across 45 states. The company generated $899 million in sales, with revenues increasing 16% to $207 million. Strong demand for their services is exemplified through continued Wax Pass sales, indicating customer loyalty. This accolade underscores the stability and growth of EWCZ's business model.

European Wax Center, Inc. (NASDAQ: EWCZ) announced significant leadership changes effective March 27, 2023. David Willis has been promoted to President while retaining his role as Chief Operating Officer. Stacie Shirley, previously CFO at Keller Williams, has been appointed as the new Chief Financial Officer. CEO David Berg emphasized the importance of these appointments for the Company's growth trajectory. European Wax Center operates over 944 centers across 45 states and generated nearly $900 million in sales in 2022, highlighting its leadership in the waxing services market.

European Wax Center, Inc. (NASDAQ: EWCZ) reported strong fiscal 2022 results, with total revenue increasing 16.0% to $207.4 million and system-wide sales growing 12.8% to $898.6 million. The company opened 91 new centers, expanding to 944 locations, and achieved a net income of $13.6 million. Looking ahead, EWCZ forecasts fiscal 2023 revenues between $222 million and $229 million, and plans to open 95-100 new centers. Same-store sales are projected to grow in the mid-single digits. Despite rising interest expenses, the company continues to demonstrate strong performance and growth potential in the highly fragmented waxing market.

European Wax Center (NASDAQ: EWCZ), a leading franchisor of waxing services in the U.S., has been Certified™ by Great Place to Work®. An impressive 91% of employees reported that it's a great workplace, 34% above the U.S. average. The recognition is attributed to the company's focus on core values, including care for associates and delivering exceptional guest experiences. EWCZ provides benefits such as healthcare, paid leave, and a robust diversity, equity, and inclusion initiative, alongside programs like Spot Bonus and a Fun Committee. In 2022, EWCZ generated nearly $900 million from 944 centers across 45 states.

European Wax Center, Inc. (NASDAQ: EWCZ), the leading franchisor of out-of-home waxing services in the U.S., will participate in the BofA Securities 2023 Consumer & Retail Conference on March 14, 2023, at 1 Hotel South Beach, Miami. Management's fireside chat is scheduled for 1:00 PM EST. The Company, which generated nearly $900 million in sales in 2022 across 944 centers in 45 states, focuses on providing high-quality waxing experiences through its proprietary Comfort Wax® and trained specialists. For further details and to access the webcast, visit the Company's investor relations page.

European Wax Center (NASDAQ: EWCZ) plans to report its fourth quarter and fiscal year 2022 financial results on March 9, 2023, before market opens. A conference call hosted by management will occur at 8:00 a.m. ET to discuss the results. As of December 31, 2022, the company operates 944 centers across 45 states, reinforcing its position as the largest franchisor of waxing services in the U.S. The company boasts an innovative product line including the proprietary Comfort Wax® designed for an efficient and less painful waxing experience.

Wax Center Partners (NASDAQ: EWCZ) announced the opening of two new European Wax Centers in Northern California on January 13 and January 25, 2023. These centers are located at Southport Town Center and Novato Vintage Oaks Shopping Center, respectively. With 39 locations across CA, AZ, NV, and TX, WCP aims to enhance customer experiences with trained specialists and offers a special Wax Pass Promotion of Buy 9 Services, Get 3 Free for two months. Founded in 2004, European Wax Center, Inc. continues to lead the waxing industry with its innovative Comfort Wax®.

European Wax Center (NASDAQ: EWCZ) has been recognized in Entrepreneur's Franchise 500, ranking #32 overall and #1 in the waxing category. This acknowledgment reflects the company's unit growth, financial strength, and brand power. With over 900 centers across 45 states, EWC continues its expansion, enhancing guest experiences through partnerships with industry leaders like Tweezerman and Dreamfield Sports. The Franchise 500 ranking is based on more than 150 data points assessing costs, growth, support, and brand strength, affirming EWC as a strong franchise opportunity.

European Wax Center, Inc. (NASDAQ: EWCZ) reports strong preliminary fiscal 2022 results, achieving 91 net new center openings and system-wide sales of $898.6 million, surpassing previous estimates. The company anticipates fiscal 2022 total revenue exceeding $205 million, with same-store sales and adjusted net income also expected to be above earlier forecasts. CEO David Berg noted a 16% increase in Wax Pass sales, indicating strong customer engagement. A share repurchase program was enacted with around $30 million remaining. Audited results will be published in March 2023.