European Wax Center, Inc. Stock Price, News & Analysis

European Wax Center announced a public offering of 5,216,977 shares of its Class A common stock, with 2,851,617 shares offered by selling stockholders affiliated with General Atlantic, L.P. The proceeds will be used to purchase non-voting common units in EWC Ventures, LLC. The offering also includes a 30-day option for underwriters to buy an additional 782,547 shares. EWC will retain no net proceeds from the offering, as selling stockholders will receive all proceeds from their shares. Morgan Stanley, BofA Securities, and Jefferies are the underwriters for the offering.

European Wax Center (NASDAQ: EWCZ) reported robust Q3 fiscal 2021 results, highlighting a 60.0% increase in system-wide sales to $219.1 million and a 10.6% rise in same-store sales compared to Q3 fiscal 2019. Total revenue surged 61.0% to $49.0 million. Despite a GAAP net loss of $9.3 million, adjusted net income reached $8.5 million, a significant improvement from prior periods. The company announced an optimistic fiscal 2021 outlook, raising targets for revenue, adjusted net income, and new center openings.

European Wax Center has launched the EWC Rewards program and a new improved Guest App, enhancing customer experience. Available at over 800 centers nationwide, the rewards program allows guests to earn 1 point for each dollar spent, redeemable for $10 rewards with every 200 points. Guests can also earn additional rewards through referrals and during their birthday month. The new app supports features like QuickBook, self-check-in, and digital guest forms to promote a contactless environment.

Wax Center Partners (WCP) has opened a new European Wax Center location in San Leandro, CA, marking its 19th center in operation. The franchise, which has expanded from 11 to 19 centers in a few months, is led by a partnership between Stieber EWC and MKH Capital Partners. To celebrate the opening, WCP is offering a 'Buy 3 Get 1 Free Wax Pass' promotion until October 31, 2021, alongside discounts for new guests. WCP aims for further expansion through new developments and acquisitions.

European Wax Center (NASDAQ: EWCZ) announced it will report its third quarter fiscal 2021 earnings on November 4, 2021, after market close. An investor conference call will follow at 5:00 PM ET to discuss the financial results. The company, with over 800 locations, is recognized for its innovative Comfort Wax™ and commitment to providing high-quality waxing services. Interested investors can access the call via a dedicated phone line or online webcast, with replays available for a limited period.

European Wax Center reported strong performance in Q2 fiscal 2021, with system-wide sales at $218.5 million, a 443% increase from Q2 fiscal 2020, and up 15% from Q2 fiscal 2019. Total revenue soared 343% to $47.9 million, net income improved to $7.7 million from a loss of $11.4 million in Q2 fiscal 2020. Adjusted EBITDA rose to $19.8 million, a significant turnaround. The company opened 41 new centers, expanding its reach to 815 locations. FY21 guidance anticipates total revenue between $173.0 million and $178.0 million.

The European Wax Center (NASDAQ: EWCZ) announced it will report second quarter fiscal 2021 earnings on September 14, 2021, after market close. An investor conference call is scheduled for 5:00 PM ET the same day, providing insights into the financial results. The company operates 808 centers across the U.S. and is known for its proprietary Comfort Wax™ and a complimentary wax for new guests, aiming to enhance the overall waxing experience. The investor call will be accessible via phone and webcast, with replays available for up to 90 days.

Wax Center Partners has expanded its presence in Texas by acquiring six European Wax Center (EWC) locations in the Dallas metro area, raising its total to 18 centers. This strategic acquisition aims to bolster its market share and enhance service quality for Dallas clients. The company, a collaboration between MKH Capital Partners and the Stieber franchise, operates an additional 12 centers in Northern California. Wax Center Partners is focused on future growth through both development and additional acquisitions, fostering a strong commitment to investing in culture and service excellence.

European Wax Center (EWC) has completed its initial public offering (IPO) of 10,600,000 Class A common stock shares at $17.00 each. The offering included 8,915,206 shares sold by EWC, generating gross proceeds of approximately $151.6 million. Shares began trading on the Nasdaq under the ticker symbol 'EWCZ' on August 5, 2021. The underwriting was led by Morgan Stanley, BofA Securities, and Jefferies. EWC aims to enhance its market presence, leveraging funds raised from this IPO for future growth initiatives.