Welcome to our dedicated page for MCG news (Ticker: MCG), a resource for investors and traders seeking the latest updates and insights on MCG stock.
Membership Collective Group (MCG) operates a global network of private membership venues and digital platforms, renowned for pioneering the fusion of luxury hospitality with creative community building. This news hub provides investors and industry observers with direct access to MCG's official communications and market developments.
Our curated collection features earnings announcements, new venue openings, and strategic partnership updates directly from MCG leadership. Track the company's expansion across hospitality, coworking spaces like Soho Works, and lifestyle offerings including Soho Home retail.
Key updates cover membership growth metrics, digital platform enhancements, and sustainability initiatives within MCG's global operations. Bookmark this page for real-time insights into how the company maintains its position as the world's largest private membership network.
Membership Collective Group (NYSE: MCG) reported Q3 2022 results, highlighting a total membership growth of 46.3% year-over-year to 211,351 and Soho House members increasing by 29.3% to 152,165. Total revenues rose 48.2% to $266 million, with membership revenues at $71 million, a 38.8% increase. Despite strong revenue growth, MCG posted a net loss of $91.7 million due to a significant foreign exchange charge. Adjusted EBITDA improved to $20.3 million, up from $8.8 million in Q3 2021. The company plans to manage costs and delay openings to ensure long-term growth.
Membership Collective Group Inc. (MCG) will release its Q3 2022 financial results on November 16, 2022, at 9:00am ET. The conference call and live webcast will discuss the results and can be accessed via MCG's website. Participants can dial in using designated numbers for the USA and UK. A replay of the webcast will be available for 90 days after the call. MCG operates a diverse global membership platform, including Soho House and other brands, connecting members for work and social interactions.
Membership Collective Group (NYSE: MCG) executives Andrew Carnie and Thomas Allen will present at the Bank of America Securities Gaming and Lodging Conference on September 8, 2022, from 10:40-11:15 am Eastern Time. Their remarks will be available through a live webcast on the company's website. A replay will be accessible within 24 hours post-event and will expire on December 9, 2022.
MCG, known for its global membership platform, includes notable venues such as Soho Houses and The Ned, connecting diverse members worldwide.
Membership Collective Group Inc. (MCG) reported strong Q2 2022 results with total revenues of $243.8 million, a 96.5% increase year-over-year. Total membership grew to 193,370, with Soho House members rising to 142,250, reflecting a 27.1% year-over-year increase. Despite significant revenue growth, MCG reported a net loss of $82.0 million or $0.41 per share. Adjusted EBITDA reached $15.4 million, marking a substantial improvement. MCG continues to expand, aiming for nine new Soho House openings in the fiscal year.
Membership Collective Group Inc. (MCG) plans to release its second quarter 2022 financial results on August 17, 2022. A conference call and live webcast will follow the announcement at 9:00 AM ET. The company's portfolio includes notable venues like Soho House, The Ned, and Scorpios Beach Club. Investors can access a live broadcast on MCG's website and a replay will be available for 90 days post-call.
Membership Collective Group (MCG) has launched its first international location for The Ned in New York City, marking a significant expansion in North America. The Ned NoMad, housed in the historic Johnston Building, features 167 bedrooms, two restaurants, and four bars across 117,000 sq ft. This venue aims to create a vibrant community for professionals, building on the success of its London counterpart. The CEO, Nick Jones, noted strong demand for membership. The expansion is set to continue with additional locations planned, including a new site in Doha, Qatar.
Membership Collective Group (NYSE: MCG) has announced that Andrew Carnie, President of MCG, will speak at the 42nd Annual William Blair Growth Stock Conference on June 9, 2022, from 2:40 PM to 3:10 PM CT.
A live webcast will be available on MCG's Investor Relations website. The webcast will remain accessible for 90 days following the event. MCG is a global membership platform connecting diverse members through physical and digital spaces, featuring venues like Soho Houses and The Ned. For more details, visit www.membershipcollectivegroup.com.
Membership Collective Group (MCG) announced that President Andrew Carnie will participate in a fireside chat at the Goldman Sachs Travel and Leisure Conference on June 7, 2022, at 2:55 p.m. Eastern Time. The event will be available via a live webcast on MCG's Investor Relations website. A replay will be accessible within 12 hours after the chat concludes. MCG is a global membership platform connecting diverse members through physical and digital spaces, with offerings including 35 Soho Houses and various lifestyle brands.
Membership Collective Group (MCG) is expanding its Soho Home retail presence with new studios opening in Westbourne Grove, London, and Melrose Avenue, Los Angeles, this summer. The new locations aim to enhance customer experience by providing personal interior design services, alongside exclusive homeware collections. Soho Home has seen a remarkable 150% sales increase in Q1 2022, indicating strong demand for luxury interiors. These openings reflect MCG's confidence in its interior business and aim to cater to both members and non-members seeking to replicate the Soho House aesthetic in their homes.
Membership Collective Group (MCG) has appointed Thomas Allen as Chief Financial Officer, effective June 23, 2022. Allen joins from Morgan Stanley, where he led US Gaming, Lodging, and Leisure sector research. His expertise is expected to enhance MCG’s growth following its IPO. Founder and CEO Nick Jones expressed confidence in Allen's understanding of the company and the market opportunities ahead. Reporting to President Andrew Carnie, Allen will manage financial and investor relations as MCG aims to expand its global membership platform.
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