Welcome to our dedicated page for MCG news (Ticker: MCG), a resource for investors and traders seeking the latest updates and insights on MCG stock.
The news feed for Membership Collective Group (MCG), historically linked with Soho House & Co, focuses on its evolution as a global membership platform spanning physical Houses, workspaces, beach clubs, hotels, lifestyle retail and digital channels. Company announcements describe how the platform connects a vibrant, diverse and global group of members who use these spaces to work, socialize, connect, create and flourish.
Recent news releases under the Soho House & Co name emphasize quarterly and annual financial results, highlighting trends in membership revenues, in-house revenues and other revenues. Management commentary often discusses growth in Total Members and Soho House Members, the performance of individual Houses, and the contribution of non-House businesses such as Soho Home and Scorpios Beach Clubs.
Investors and followers can also find updates on membership metrics, including Total Members, Soho House Members, Soho Friends, Soho Works members and Active App Users. These disclosures provide insight into how the membership base and digital engagement evolve over time across the global collection of Soho Houses, Soho Works locations and related brands.
Another recurring theme in company news is the use of non-GAAP performance measures such as Adjusted EBITDA, House-Level Contribution and Other Contribution, along with explanations of how these metrics are calculated and why management uses them. In addition, the company has issued announcements about strategic and corporate developments, including offers from investor groups to acquire the company and proposed take-private transactions that could affect its stock exchange listing.
For anyone tracking MCG-related developments, this news page aggregates earnings releases, membership updates, transaction announcements and other official communications, providing a centralized view of how the membership platform and its hospitality portfolio are progressing over time.
Soho House & Co. (NYSE: SHCO) announced its Q2 2024 results. Total members grew to 264,540, a 6.6% YoY increase, with SHCO members rising by 16% to 204,028. The membership waitlist hit a record 111,000. Total revenues were $305.1 million, a 5.6% increase. Membership revenues rose by 16.1% to $103.6 million, making up 33.9% of total revenues. In-house revenues grew by $2.9 million to $128.4 million. RevPAR was flat YoY. SHCO reported a net loss of $33.9 million or $0.17 per share, mainly due to $27 million in higher non-cash FX losses. Adjusted EBITDA increased by $1.6 million to $33.3 million. The company opened Soho House Sao Paulo and Scorpios Bodrum and plans four more houses across Europe and Asia.
Soho House & Co Inc. (NYSE: SHCO), a global membership platform, will release its second-quarter 2024 financial results on Friday, August 9, 2024. The company will host a conference call and live webcast at 9:00 am ET on the same day to discuss the results. Investors can access the call via phone or webcast, with replay available on the company website for up to 90 days. SHCO operates a diverse portfolio including 44 Soho Houses, 9 Soho Works, Scorpios Beach Clubs, The Ned hotels, and the Soho Home retail brand across various global locations.
Soho House & Co, trading under the ticker SHCO on the NYSE, has announced the dissolution of a Special Committee formed to evaluate strategic transactions, including a potential privatization. The committee was formed in response to an offer valuing the company at a premium over its current trading price. However, the offer was deemed insufficient in reflecting the company's true value and not in the best interest of public stockholders. In addition, Soho House will hold an Investor Day later this year to discuss long-term growth plans. The Board also approved a $50 million share repurchase program in February 2024.
Soho House & Co Inc. (NYSE: SHCO) reported solid first quarter 2024 results with total members growing to 261,571, a 9.9% increase year-over-year, and membership revenues reaching $100.2 million, up 20.4% year-over-year. However, the company reported a net loss of $46.0 million and a decrease in In-House revenues by -5% year-over-year. Adjusted EBITDA was $19.3 million, down $(0.8) million from first quarter 2023. The company remains optimistic about future growth with plans to open new locations and raise midpoint of Adjusted EBITDA guidance.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
FAQ
What is the market cap of MCG (MCG)?
