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.
Membership Collective Group (MCG) operates a global network of private membership venues and digital platforms, renowned for pioneering the fusion of luxury hospitality with creative community building. This news hub provides investors and industry observers with direct access to MCG's official communications and market developments.
Our curated collection features earnings announcements, new venue openings, and strategic partnership updates directly from MCG leadership. Track the company's expansion across hospitality, coworking spaces like Soho Works, and lifestyle offerings including Soho Home retail.
Key updates cover membership growth metrics, digital platform enhancements, and sustainability initiatives within MCG's global operations. Bookmark this page for real-time insights into how the company maintains its position as the world's largest private membership network.
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.
Membership Collective Group (MCG) has launched its first international location for The Ned in New York City, marking a significant expansion in North America. The Ned NoMad, housed in the historic Johnston Building, features 167 bedrooms, two restaurants, and four bars across 117,000 sq ft. This venue aims to create a vibrant community for professionals, building on the success of its London counterpart. The CEO, Nick Jones, noted strong demand for membership. The expansion is set to continue with additional locations planned, including a new site in Doha, Qatar.
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
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.
