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

European Wax Center, Inc. (NASDAQ: EWCZ) has climbed 11 spots to secure the No. 80 position in Franchise Times' Top 400 Ranking of the largest U.S.-based franchise systems by global systemwide sales. As the largest and fastest-growing franchisor of out-of-home waxing services in the United States, European Wax Center's improved ranking reflects its continued growth and success in the franchise industry.

CEO David Berg attributes this achievement to the dedication of their franchise partners and emphasizes the company's commitment to providing comprehensive support. European Wax Center remains focused on expanding its nationwide footprint, enhancing customer experience, and driving financial performance for franchisees as part of its strategy to deliver sustainable growth and value for shareholders.

European Wax Center (NASDAQ: EWCZ) announced strategic updates to drive growth and profitability. Key points include:

1. New partnership with Dolabra Digital to enhance guest acquisition, engagement, and loyalty.

2. Realignment of Commercial and Field Operations teams to support key initiatives and franchisees.

3. Pausing expansion of laser hair removal pilot beyond existing New York centers.

4. Senior VP of Marketing Michael Brister to lead Commercial function.

5. Reorganization of Field Operations team to improve four-wall performance.

6. Reaffirmation of fiscal 2024 outlook.

These measures aim to streamline operations, focus on core waxing business, and position the company for sustainable, long-term growth.

European Wax Center, Inc. (NASDAQ: EWCZ), the leading franchisor of out-of-home waxing services in the US, announced its participation in the 2024 Piper Sandler Growth Frontiers Conference. The event will take place on September 10, 2024, at the Virgin Hotel in Nashville, Tennessee. The company's management team will engage in a fireside chat at 9:00 AM EST.

European Wax Center operates over 1,000 centers across 45 states, performing more than 23 million services annually. The company generated sales of $955 million in fiscal 2023. Known for its innovative Comfort Wax® formula and proprietary products, European Wax Center aims to provide an efficient and relatively painless waxing experience.

European Wax Center, Inc. (NASDAQ: EWCZ) reported its Q2 fiscal 2024 results, showing mixed performance. The company experienced 2.3% growth in system-wide sales to $260.2 million and a 1.3% increase in total revenue to $59.9 million. Same-store sales rose by 1.6%, while net new centers increased by 5.6% to 1,059 total centers across 45 states. GAAP net income grew by 7.3% to $6.0 million, and adjusted net income increased by 4.0% to $7.3 million. However, adjusted EBITDA decreased by 2.6% to $20.6 million.

The company also announced the appointment of David Berg as CEO and updated its fiscal 2024 outlook, reducing expectations for new center openings and financial performance due to macroeconomic pressures affecting consumer spending and new guest acquisition.

European Wax Center (NASDAQ: EWCZ) has appointed David Berg as Chief Executive Officer, effective August 12, 2024. Berg, who has served as Executive Chairman since September 2023, replaces David Willis. Berg previously held the CEO position from 2018 to 2023, during which time he:

• Expanded the company from nearly 700 to over 1,000 centers
• Led the company through its successful IPO in 2021
• Increased network sales at double-digit rates
• More than doubled bottom-line performance
• Consistently met or exceeded earnings guidance
• Returned over $200 million to shareholders through dividends and share repurchases

The Board expressed confidence in Berg's ability to drive sustained growth and shareholder returns. Berg emphasized the company's strong market position, growth potential, and consistent revenue model as key factors for future success.

European Wax Center (NASDAQ: EWCZ), the largest franchisor of out-of-home waxing services in the US, has appointed Julia Hunter to its Board of Directors, effective August 1, 2024. Hunter, currently CEO of Jenni Kayne, brings nearly two decades of retail and consumer experience. She will serve on the Nominating and Governance committee.

During her ten-year tenure at Jenni Kayne, Hunter grew revenue forty times over. She previously held strategic roles at Elizabeth and James, J. Crew, Louis Vuitton, and Loeffler Randall. Simultaneously, Shaw Joseph, a director since 2018, will step down from the Board.

European Wax Center, founded in 2004, operates over 1,000 centers in 45 states and generated sales of $955 million in fiscal 2023. The company is known for its Comfort Wax® formulation and proprietary products.

European Wax Center, Inc. (NASDAQ: EWCZ), the leading franchisor and operator of out-of-home waxing services in the United States, has announced its plans to report second quarter fiscal year 2024 financial results on August 14, 2024, before the market opens. The company will host a conference call at 8:00 a.m. ET/7:00 a.m. CT for management to review the results. EWCZ operates over 1,000 centers across 45 states and generated sales of $955 million in fiscal 2023. The company is known for its innovative Comfort Wax® formulation and proprietary products, performing more than 23 million services annually.

European Wax Center (NASDAQ: EWCZ) is launching its new Eyebrow Tint service on August 1, 2024. As the largest franchisor of out-of-home waxing services in the US, EWC is expanding its popular brow services with an FDA-compliant, semi-permanent tint that lasts up to four weeks. The service will be priced the same as a Brow Wax ($25, prices may vary) and will be available nationwide, except where restricted by regulations.

CEO David Willis emphasized the company's commitment to innovation, building on their proprietary Comfort Wax® technology. The new tint service aims to capitalize on the growing brow category and enhance customer value. Recent research indicates strong demand for eyebrow products, with 73% of US beauty consumers purchasing such items in the past year.

European Wax Center (NASDAQ: EWCZ), the largest and fastest-growing franchisor of out-of-home waxing services in the U.S., released its 2023 ESG Report. This report aligns with IFRS Foundation's SASB standards and marks the company's second annual publication on ESG initiatives. Key highlights include the implementation of a DE&I Council charter, new leadership and associate training, enhanced mental wellness benefits, maintenance of industry-leading health and safety practices, and new resources for franchisees. The report also details their philanthropic efforts, environmental assessments, and improved cybersecurity measures.