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

European Wax Center, Inc. (NASDAQ: EWCZ), the largest franchisor and operator of waxing services in the U.S., will report its first quarter fiscal 2023 financial results on May 10, 2023, before market opening. A conference call for analysis will follow at 8:00 a.m. ET. The company, founded in 2004 and headquartered in Plano, Texas, operates 944 centers across 45 states. In 2022, it generated nearly $900 million in sales, performing over 22 million waxing services annually. The company promotes its innovative Comfort Wax® and a proprietary product line enhancing waxing results. EWCZ is recognized for its corporate culture, being Certified™ by Great Place to Work®.

European Wax Center (NASDAQ: EWCZ) announced recognition as one of the Fastest-Growing Franchises by Entrepreneur, ranking 30 out of 1,321. The 2023 ranking reflects franchise unit growth from July 2021 to July 2022. In 2022, EWCZ opened 91 net new centers, achieving a total of 944 centers across 45 states. The company generated $899 million in sales, with revenues increasing 16% to $207 million. Strong demand for their services is exemplified through continued Wax Pass sales, indicating customer loyalty. This accolade underscores the stability and growth of EWCZ's business model.

European Wax Center, Inc. (NASDAQ: EWCZ) announced significant leadership changes effective March 27, 2023. David Willis has been promoted to President while retaining his role as Chief Operating Officer. Stacie Shirley, previously CFO at Keller Williams, has been appointed as the new Chief Financial Officer. CEO David Berg emphasized the importance of these appointments for the Company's growth trajectory. European Wax Center operates over 944 centers across 45 states and generated nearly $900 million in sales in 2022, highlighting its leadership in the waxing services market.

European Wax Center, Inc. (NASDAQ: EWCZ) reported strong fiscal 2022 results, with total revenue increasing 16.0% to $207.4 million and system-wide sales growing 12.8% to $898.6 million. The company opened 91 new centers, expanding to 944 locations, and achieved a net income of $13.6 million. Looking ahead, EWCZ forecasts fiscal 2023 revenues between $222 million and $229 million, and plans to open 95-100 new centers. Same-store sales are projected to grow in the mid-single digits. Despite rising interest expenses, the company continues to demonstrate strong performance and growth potential in the highly fragmented waxing market.