Welcome to our dedicated page for European Wax Center news (Ticker: EWCZ), a resource for investors and traders seeking the latest updates and insights on European Wax Center stock.
European Wax Center, Inc. (EWCZ) delivers professional waxing services through its nationwide network, leveraging a proven franchise model and proprietary Comfort Wax technology. This dedicated news hub provides investors and industry observers with essential updates on corporate developments and market performance.
Access timely press releases covering earnings reports, franchise expansions, product innovations, and strategic partnerships. Our curated collection ensures efficient tracking of financial filings, operational milestones, and leadership announcements from the beauty services leader.
Key updates include quarterly results analysis, new center openings, eyebrow service enhancements, and executive team changes. Bookmark this page for streamlined monitoring of EWCZ's growth in the competitive personal care sector, with all materials sourced directly from official corporate communications.
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.
European Wax Center, Inc. (NASDAQ: EWCZ) will report first quarter fiscal year 2024 financial results on May 15, 2024. The company is the largest franchisor of out-of-home waxing services in the US, offering a professional personal care experience. With over 1,000 centers in 45 states, generating $955 million in sales in fiscal 2023, European Wax Center continues to revolutionize the waxing industry with its Comfort Wax® and proprietary products.
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