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 has appointed David Willis as the new Chief Financial Officer, effective immediately, while he retains his role as Chief Operating Officer. This transition follows the departure of Jennifer Vanderveldt. The company expects to achieve fiscal 2021 total revenue between $175.5 million and $178.5 million, projecting a 71% increase from 2020. Furthermore, Adjusted EBITDA and Adjusted net income are anticipated to slightly exceed previous guidance. European Wax Center ended the year with 853 centers and a strong growth pipeline.
European Wax Center, Inc. (NASDAQ: EWCZ) reported a strong fiscal 2021, ending with 853 centers and the deepest pipeline ever of over 330 upcoming locations. CEO David Berg highlighted the addition of 57 new centers mainly through existing franchisees, showcasing growth partnerships. The company anticipates fiscal 2022 performance aligned with long-term growth targets while navigating the ongoing impacts of COVID-19. A virtual presentation at the ICR Conference is scheduled for January 10, 2022, where they will discuss future outlooks and financial guidance.
European Wax Center (NASDAQ: EWCZ) has been ranked #48 in Entrepreneur's 2022 Franchise 500, the highest-ranking in its category. This prestigious annual ranking recognizes franchises based on unit growth, financial strength, and brand power. The company continues to grow, launching a tested line of at-home wax products and a new loyalty program, EWC Rewards. The recognition highlights European Wax Center's resilience amid challenging times and its commitment to providing excellent guest experiences.
European Wax Center (NASDAQ: EWCZ) announced that its management team will present at the ICR Conference 2022 on January 10, 2022, at 2:30 PM ET. A webcast link with slides will be available on the Company's Investor Relations website on the day of the event.
Founded in 2004, European Wax Center is a leading personal care franchise offering professional waxing services. The company aims to provide a premium experience through certified specialists and innovative products, operating 853 centers across the U.S. as of December 2021.
Wax Center Partners (WCP) has expanded to Las Vegas, Nevada, acquiring four European Wax Center locations. This growth brings WCP's total to 24 centers across California, Texas, and Nevada. The company, which launched in May 2021, focuses on enhancing guest experiences and aims for further growth through acquisitions and partnerships. Notable promotions include a First Wax Free offer and a Wax Pass Promo where guests can buy 9 services to get 3 free.
Nital Scott has been appointed as an Independent Director on the Board of European Wax Center (NASDAQ: EWCZ) as of November 29, 2021. With this addition, the board expands to seven members. Scott, currently the CFO of Beautycounter, contributed to a remarkable 12x revenue growth during her tenure. The leadership anticipates her retail expertise will support strategic goals, including new center openings and improved same-store sales. The board aims to enhance governance with high-quality independent members, emphasizing a strong growth trajectory.
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.
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