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The Membership Collective Group (MCG) is a global membership platform of physical and digital spaces that connects a vibrant, diverse, and global group of members. Members utilize the MCG platform for work, socializing, connecting, creating, and flourishing worldwide. Founded with the first Soho House in 1995, MCG is the only company to have expanded a private membership network on a global scale. Members worldwide interact with MCG through its diverse portfolio, including 30 Soho Houses, 9 Soho Works, The Ned in London, Scorpios Beach Club in Mykonos, Soho Home, and its digital channels.
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Soho House & Co Inc. (NYSE: SHCO) announced strong financial results for Q4 2023 and FY 2023, showcasing growth in total members, revenues, and Adjusted EBITDA. The company reported a net loss but highlighted significant progress in profitability and member experience enhancement. With new house openings and strategic initiatives, SHCO aims to drive operational excellence and membership growth in the upcoming year.
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Soho House & Co Inc. (NYSE: SHCO) will release its Q4 2023 financial results on March 15, 2024. It is a global membership platform with various brands under its umbrella. The company offers physical and digital spaces for members worldwide.
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Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of Soho House & Co Inc. investors after GlassHouse Research published a report criticizing the company's business model and accounting practices, leading to a significant stock price drop.
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Soho House & Co Inc. (NYSE: SHCO) rejects a report by GlassHouse Research, citing inaccuracies and misleading statements. The company reaffirms its confidence in its business, upcoming financial results, and plans for growth. The Board approves a $50 million share repurchase authorization, signaling a positive outlook.
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Soho House & Co. (NYSE: SHCO) promotes Tom Collins to Chief Operating Officer, effective November 1, 2023. Collins, previously Managing Director for UK, Europe, and Asia, has held senior leadership roles during his ten-year tenure, successfully opening new Soho Houses in various regions. He will report to CEO Andrew Carnie and aims to drive continued growth and success for the company.
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Soho House & Co Inc. (NYSE: SHCO) announced third quarter results, with total members growing to 255,252, revenues of $301.0 million, and net loss of $42.4 million. The company opened Soho House Mexico City and plans to open locations in Portland and Sao Paulo. Adjusted EBITDA more than doubled year-on-year, and membership guidance for year-end 2024 is set to exceed 210,000 Soho House members.
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Soho House & Co Inc. (SHCO) will release its third-quarter 2023 financial results on November 10, 2023. A conference call and webcast will be hosted to discuss these results. Soho House & Co is a global membership platform that connects members through physical and digital spaces worldwide.
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Soho House & Co Inc. announces Q2 2023 results with total revenues of $288.9 million, up 18.5% YoY. Adjusted EBITDA was $31.8 million, up $16.4 million from Q2 2022. Total members grew to 248,071, a 28.3% YoY increase. Soho House members grew to 176,305, a 23.9% YoY increase. Membership waitlist sits at an all-time high of approximately 95,000. Plan to open new Soho Houses in Mexico City, Portland, and Sao Paulo. Net loss attributable to Soho House & Co Inc. was $2.6 million or $0.01 per share.
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FAQ
What is the market cap of MCG (MCG)?
The market cap of MCG (MCG) is approximately 1.3B.
When was the first Soho House opened by MCG?
MCG opened its first Soho House in 1995.
What makes MCG unique in the industry?
MCG is the only company to have scaled a private membership network with a global presence.
How do members engage with MCG?
Members worldwide engage with MCG through its diverse portfolio of physical and digital spaces.
What are some of the properties owned by MCG?
MCG owns a global portfolio including 30 Soho Houses, 9 Soho Works, The Ned in London, and Scorpios Beach Club in Mykonos.
What is Soho Home?
Soho Home is MCG's interiors and lifestyle retail brand.
What is the primary purpose of the MCG platform?
The MCG platform enables members to work, socialize, connect, create, and flourish globally.
How does MCG connect its members globally?
MCG connects a diverse group of members worldwide through its physical and digital spaces.
What is the significance of MCG in the membership industry?
MCG is a global membership platform with a unique approach to connecting members globally.
How has MCG evolved since its inception?
Since opening the first Soho House in 1995, MCG has expanded its global presence and network of exclusive spaces.
What differentiates MCG from other membership platforms?
MCG's global presence and diverse portfolio set it apart in the membership industry.
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