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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.
On March 20, 2023, Membership Collective Group began trading on the NYSE as Soho House & Co Inc. (ticker: SHCO). This rebranding emphasizes the company’s global membership business and its various hospitality and lifestyle brands, including The Ned, Soho Home, and Soho Works. CEO Andrew Carnie stated that the name change reflects the brand's heritage created by Nick Jones over 28 years. Soho House & Co Inc. aims to connect diverse and creative members through unique physical and digital spaces worldwide.
Membership Collective Group Inc. (NYSE: MCG) reported strong financial results for Q4 2022 and fiscal year 2022. Total revenues rose to $270.4 million, a 46.5% increase year-over-year, while membership revenues reached $77.1 million, also up 46.4%. The total member count grew to 226,830, with Soho House members increasing to 161,975. Adjusted EBITDA for Q4 surged to $23.2 million, reflecting a significant operational improvement. However, the company reported a net loss of $220.6 million for the fiscal year. MCG announced plans to rename itself to Soho House & Co., reinforcing its brand identity.
Membership Collective Group (MCG) will release its full year and fourth quarter 2022 financial results on March 8, 2023. A conference call and live webcast discussing these results will be held on the same day at 9:00 am ET / 2:00 pm GMT. Interested parties can access the live broadcast on MCG’s website at www.membershipcollectivegroup.com. Conference call access numbers are provided for both the USA and UK. A replay of the call will be available on MCG's website for up to 90 days.
Membership Collective Group (MCG) announced a significant leadership transition as CEO Nick Jones steps down to assume a founder role, following his recent health recovery. Andrew Carnie, previously President, will take over as CEO. Nick has been pivotal in expanding Soho House from a single location in London to a global platform with 38 locations and over 211,000 members. The leadership change aims to strengthen long-term strategy and member experience while continuing to leverage Nick’s design expertise.
Membership Collective Group (NYSE: MCG) reported Q3 2022 results, highlighting a total membership growth of 46.3% year-over-year to 211,351 and Soho House members increasing by 29.3% to 152,165. Total revenues rose 48.2% to $266 million, with membership revenues at $71 million, a 38.8% increase. Despite strong revenue growth, MCG posted a net loss of $91.7 million due to a significant foreign exchange charge. Adjusted EBITDA improved to $20.3 million, up from $8.8 million in Q3 2021. The company plans to manage costs and delay openings to ensure long-term growth.
Membership Collective Group Inc. (MCG) will release its Q3 2022 financial results on November 16, 2022, at 9:00am ET. The conference call and live webcast will discuss the results and can be accessed via MCG's website. Participants can dial in using designated numbers for the USA and UK. A replay of the webcast will be available for 90 days after the call. MCG operates a diverse global membership platform, including Soho House and other brands, connecting members for work and social interactions.
Membership Collective Group (NYSE: MCG) executives Andrew Carnie and Thomas Allen will present at the Bank of America Securities Gaming and Lodging Conference on September 8, 2022, from 10:40-11:15 am Eastern Time. Their remarks will be available through a live webcast on the company's website. A replay will be accessible within 24 hours post-event and will expire on December 9, 2022.
MCG, known for its global membership platform, includes notable venues such as Soho Houses and The Ned, connecting diverse members worldwide.
Membership Collective Group Inc. (MCG) reported strong Q2 2022 results with total revenues of $243.8 million, a 96.5% increase year-over-year. Total membership grew to 193,370, with Soho House members rising to 142,250, reflecting a 27.1% year-over-year increase. Despite significant revenue growth, MCG reported a net loss of $82.0 million or $0.41 per share. Adjusted EBITDA reached $15.4 million, marking a substantial improvement. MCG continues to expand, aiming for nine new Soho House openings in the fiscal year.
Membership Collective Group Inc. (MCG) plans to release its second quarter 2022 financial results on August 17, 2022. A conference call and live webcast will follow the announcement at 9:00 AM ET. The company's portfolio includes notable venues like Soho House, The Ned, and Scorpios Beach Club. Investors can access a live broadcast on MCG's website and a replay will be available for 90 days post-call.
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