MCG - MCG STOCK NEWS

Membership Collective Group (NYSE: MCG) has announced that Andrew Carnie, President of MCG, will speak at the 42nd Annual William Blair Growth Stock Conference on June 9, 2022, from 2:40 PM to 3:10 PM CT.

A live webcast will be available on MCG's Investor Relations website. The webcast will remain accessible for 90 days following the event. MCG is a global membership platform connecting diverse members through physical and digital spaces, featuring venues like Soho Houses and The Ned. For more details, visit www.membershipcollectivegroup.com.

Membership Collective Group (MCG) announced that President Andrew Carnie will participate in a fireside chat at the Goldman Sachs Travel and Leisure Conference on June 7, 2022, at 2:55 p.m. Eastern Time. The event will be available via a live webcast on MCG's Investor Relations website. A replay will be accessible within 12 hours after the chat concludes. MCG is a global membership platform connecting diverse members through physical and digital spaces, with offerings including 35 Soho Houses and various lifestyle brands.

Membership Collective Group (MCG) is expanding its Soho Home retail presence with new studios opening in Westbourne Grove, London, and Melrose Avenue, Los Angeles, this summer. The new locations aim to enhance customer experience by providing personal interior design services, alongside exclusive homeware collections. Soho Home has seen a remarkable 150% sales increase in Q1 2022, indicating strong demand for luxury interiors. These openings reflect MCG's confidence in its interior business and aim to cater to both members and non-members seeking to replicate the Soho House aesthetic in their homes.

Membership Collective Group (MCG) has appointed Thomas Allen as Chief Financial Officer, effective June 23, 2022. Allen joins from Morgan Stanley, where he led US Gaming, Lodging, and Leisure sector research. His expertise is expected to enhance MCG’s growth following its IPO. Founder and CEO Nick Jones expressed confidence in Allen's understanding of the company and the market opportunities ahead. Reporting to President Andrew Carnie, Allen will manage financial and investor relations as MCG aims to expand its global membership platform.

Membership Collective Group (NYSE: MCG) reported a strong start to 2022, with first-quarter revenues of $192 million, reflecting a 165% year-over-year growth. Total members rose to 171,927, marking a 44.3% increase from the previous year. Soho House membership also grew significantly, reaching 130,919. Despite a net loss of $60.5 million, adjusted EBITDA improved to $2.3 million, up $25.1 million from the prior year. The company introduced fiscal 2022 guidance, anticipating substantial growth in members and revenues, aided by two new House openings and a growing waitlist of over 79,000.

Membership Collective Group (MCG) has announced the opening of Soho House Copenhagen, marking its expansion into Scandinavia and the 22nd Soho House in Europe. Scheduled to open from July 2022, the venue will feature spaces for dining and events, and a gym set to launch later in the year. Located on the Havnegade waterfront, the oval-shaped House aims to cater to the local creative community. The club will offer exclusive access for members and guests, enhancing the brand's global presence.

The Membership Collective Group Inc. (MCG), known for its global membership platform, will announce its first quarter 2022 financial results on May 18, 2022. A conference call will take place at 08:30 EDT / 13:30 GMT to discuss these results, available via webcast on the company's website. MCG operates a diverse portfolio that includes Soho House, Soho Works, and The Ned, among others, connecting members through physical and digital spaces. The replay of the webcast will be accessible for up to 90 days after the call.

Membership Collective Group (MCG) has announced a stock repurchase program authorized by its board to buy back up to $50 million of its Class A common stock. Repurchases will occur on the open market or via negotiated transactions in the U.S., depending on market conditions. Executive Chairman Ron Burkle expressed confidence in the company's long-term growth prospects, citing plans for new Soho House openings and increasing membership demand. However, the program may be suspended or modified at any time, and there is no obligation to repurchase any specific amount.

Membership Collective Group Inc. (NYSE: MCG) announced that Chief Financial Officer Humera Afzal will depart from her position on June 14, 2022, due to factors outside the Company. A search for a successor is currently underway. CEO Nick Jones acknowledged Ms. Afzal's significant contributions, particularly in leading the IPO process during the pandemic, and expressed gratitude for her dedication. The transition will be managed to ensure stability during this change.