Welcome to our dedicated page for Soho House & Co news (Ticker: SHCO), a resource for investors and traders seeking the latest updates and insights on Soho House & Co stock.
Soho House & Co Inc. (SHCO) is a global membership platform whose news flow is closely tied to its financial performance, membership trends and corporate transactions. Company press releases regularly provide detailed quarterly and annual results, including Total revenues, Membership revenues, In‑House revenues and Other revenues, along with metrics such as Revenue Per Available Room (RevPAR), House‑Level Contribution, Other Contribution and Adjusted EBITDA.
Investors following SHCO news can expect frequent updates on membership growth, the number of Soho Houses and other locations, and the composition of the membership base across Soho House, Soho Friends and Soho Works. The company also reports on Active App Users and highlights member satisfaction scores as part of its strategic focus on growing and enhancing membership.
News items often discuss operational performance in areas such as Food & Beverage margins, accommodation performance and like‑for‑like RevPAR, as well as progress on finance and operational system transformations. Releases also describe new House openings, experiential concepts like Soho Farmhouse Ibiza, and developments in related brands such as Soho Home and Scorpios Beach Clubs.
A major theme in recent Soho House & Co news has been the proposed take‑private transaction. The company has reported on an offer to acquire outstanding shares for $9.00 per share in cash, the formation and work of a Special Committee, the signing of a definitive Merger Agreement, stockholder approvals, and subsequent financing arrangements with parties including entities associated with MCR, Apollo and Goldman Sachs‑affiliated funds. These updates outline the expected delisting of SHCO from the New York Stock Exchange upon completion of the merger.
By tracking SHCO news, readers can monitor earnings releases, membership statistics, strategic initiatives, management changes and milestones related to the pending merger and capital structure.
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.
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