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

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.

The European Wax Center (NASDAQ: EWCZ), a leading franchisor of out-of-home waxing services in the U.S., has been recognized in Entrepreneur's 2024 Top Franchises For Multi-Unit Owners and Best of the Best Franchises lists. This marks the second consecutive year the company has secured the #1 spot in the Best of the Best ranking. The brand, which celebrated its 20th anniversary this year, attributes its success to its dedicated team and franchise partners. Since its 2021 IPO, European Wax Center has opened over 200 new centers and grown network sales by more than 30%. Over 65% of its franchisees operate multiple locations, reflecting robust growth and franchisee satisfaction.

European Wax Center (NASDAQ: EWCZ) announced that its EWC TREAT® Get Smooth Skin Clearing Body Polish won the 2024 SELF Healthy Beauty Award in the 'Best Body Scrub' category. Launched in late 2023, the product combines physical and chemical exfoliation to help manage acne and ingrown hairs. Chief Commercial Officer Andrea Wasserman expressed excitement about the recognition, highlighting the product's role in maintaining smooth skin post-waxing. The body polish, retailing at $18.00, is available at European Wax Center locations, waxcenter.com, and Amazon.

European Wax Center (NASDAQ: EWCZ) announced that its EWC TREAT® Brightening Ingrown Hair Wipes have won the 2024 Men's Health Grooming Award in the 'Best Ingrown Treatment' category. This marks the second consecutive year the company has been recognized by Men's Health editors. The wipes, formulated with vitamin C, azelaic, kojic, and lactic acids, help brighten skin and prevent ingrown hairs. Launched earlier this year, the product has quickly become popular for its convenience and effectiveness. Retailing at $34.50, the wipes are available at all European Wax Center locations, waxcenter.com, and Amazon.com.

European Wax Center (NASDAQ: EWCZ), the largest franchisor and operator of out-of-home waxing services in the U.S., announced its participation in the Baird 2024 Global Consumer, Technology & Services Conference at the InterContinental New York Barclay hotel on June 5, 2024. Management will engage in a fireside chat at 10:15 AM EST, with a webcast link available on the company's investor website. European Wax Center operates over 1,000 centers across 45 states, conducting more than 23 million services annually. The company generated $955 million in sales in fiscal 2023 and is noted for its innovative Comfort Wax® and proprietary waxing products. Founded in 2004 and headquartered in Plano, Texas, European Wax Center emphasizes values such as care, integrity, guest satisfaction, and a fun work environment.

European Wax Center (NASDAQ: EWCZ) has received the 2024 Cosmopolitan Holy Grail Beauty Award for its EWC TREAT® Brightening Ingrown Hair Wipes, recognized as the 'Best Treatment for Ingrowns'.

Featured in Cosmopolitan's May print issue and online, these wipes combine Brightening Ingrown Hair Serum and Ingrown Hair Wipes to combat ingrown hairs and dark spots using a blend of vitamin C, azelaic acid, kojic acid, lactic acid, glycolic acid, and salicylic acid.

Dermatologist-tested, they can be used daily on all areas of the body pre and post hair removal. Priced at $34.50, they are available at European Wax Center locations and online.

Chief Commercial Officer Andrea Wasserman emphasized the brand's commitment to innovative, consumer-loved products that meet industry standards.

European Wax Center (NASDAQ: EWCZ) reported its first quarter fiscal 2024 results, showcasing a 4% increase in total revenue to $51.9 million and a net income of $3.7 million, reversing a net loss of $1.1 million from the prior year. Adjusted net income rose 41.3% to $4.8 million, while Adjusted EBITDA increased 7.4% to $17.5 million. System-wide sales grew 1.3% to $221.4 million, despite a decrease in same-store sales by 1.2%. The company also announced a $50 million share repurchase program and reiterated its fiscal 2024 guidance. Key figures include $60.4 million in cash, $6.5 million in restricted cash, and $393 million in borrowings.

The company remains confident in its growth, driven by new center openings and continued franchisee demand. CEO David Willis highlighted stable guest frequency and spending as factors for positive performance, along with strategic initiatives aimed at increasing guest engagement and ticket sizes.