PLANO, Texas, Nov. 19, 2024 /PRNewswire/ -- European Wax Center, Inc. (NASDAQ: EWCZ), the leading franchisor and operator of out-of-home waxing services in the United States, is excited to announce its 2024 Shape Beauty Award Win. Chosen by SHAPE's dedicated team of testers and beauty professionals, European Wax Center has been named Best Nationwide Waxing Studio.The accolade comes as part of an extended version of SHAPE's coveted beauty awards, which are widely viewed as an essential resource for wellness- ...

Reiterates fiscal 2024 financial outlook Updates fiscal 2024 outlook for net new centers Third Quarter Fiscal 2024 versus 2023 Net new centers increased 3.7% to 1,064 total centers in 45 statesSystem-wide sales of $240.2 million decreased 0.2%Total revenue of $55.4 million decreased 0.5%Same-store sales decreased 0.5%GAAP net income of $2.0 million decreased 50.7%Adjusted net income of $5.5 million decreased 8.2%Adjusted EBITDA of $18.4 million decreased 4.4% PLANO, Texas, Nov. 14, 2024 (GLOBE NEWSWIRE) -- ...

PLANO, Texas, Nov. 05, 2024 (GLOBE NEWSWIRE) -- European Wax Center, Inc. (NASDAQ: EWCZ), the largest and fastest-growing franchisor and operator of out-of-home waxing services in the United States, today announced that it plans to report third quarter fiscal year 2024 financial results before the market opens on Thursday, November 14, 2024. Following the release, the company’s management will host a conference call at 8:00 a.m. ET/7:00 a.m. CT to review the results. To access the conference call dial-in in ...

PLANO, Texas, Aug. 27, 2024 (GLOBE NEWSWIRE) -- European Wax Center, Inc. (NASDAQ: EWCZ), the largest and fastest-growing franchisor and operator of out-of-home waxing services in the United States, today announced that members of its management team will participate in the 2024 Piper Sandler Growth Frontiers Conference at the Virgin Hotel in Nashville, Tennessee on September 10, 2024. Management will participate in a fireside chat at 9:00 AM EST on September 10, 2024. A link to the webcast will be availabl ...

NEW YORK, Aug. 15, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against European Wax Center, Inc. ("European Wax" or the "Company") (NASDAQ:EWCZ) on behalf of European Wax stockholders. Our investigation concerns whether European Wax has violated the federal securities laws and/or engaged in other unlawful business practices. Click here to participate in the action. On August 14, 2024, European Wax issued a press ...

Investors can contact the law firm at no cost to learn more about recovering their losses LOS ANGELES, Aug. 15, 2024 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises European Wax Center, Inc. ("European Wax Center") (NASDAQ: EWCZ) investors that the firm has initiated an investigation into possible securities fraud and may file a class action on behalf of investors. European Wax Center investors that lost money on their investment are encouraged to contact Lesley Portnoy, Esq. Investors are encouraged to co ...

SAN DIEGO, Aug. 15, 2024 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP is investigating whether European Wax Center, Inc. (NASDAQ: EWCZ) or any of its executive officers or others violated securities laws by misrepresenting or failing to timely disclose material, adverse information to investors. The investigation focuses on investors' losses and whether they may be recovered under federal securities laws. What if I purchased European Wax securities? If you purchased securities and suf ...

Core Insights - European Wax Center, Inc. (EWCZ) reported revenue of $59.87 million for the quarter ended June 2024, reflecting a year-over-year increase of 1.3% but a revenue surprise of -2.29% compared to the Zacks Consensus Estimate of $61.27 million [1] - Earnings per share (EPS) for the quarter was $0.15, significantly higher than the $0.08 EPS from the same quarter last year, resulting in an EPS surprise of +87.50% [1] Revenue Performance - Same-store sales increased by 1.6%, which was below the average estimate of 2.5% from five analysts [3] - Total center count at the end of the quarter was 1,059, slightly below the average estimate of 1,063 from three analysts [4] - The company opened 8 new centers, which was lower than the average estimate of 12 based on two analysts [5] Revenue Breakdown - Revenue from marketing fees was $8.14 million, exceeding the average estimate of $8.10 million, with a year-over-year increase of +2.9% [6] - Revenue from royalty fees was $14.47 million, below the estimated $14.96 million, but still showing a +2.3% change year-over-year [7] - Revenue from product sales was $33.92 million, also below the average estimate of $34.96 million, with a +0.6% year-over-year change [8] - Other revenue amounted to $3.34 million, slightly above the average estimate of $3.32 million, representing a +1.2% year-over-year change [9] Stock Performance - Shares of European Wax Center have declined by -30% over the past month, contrasting with the Zacks S&P 500 composite's decline of -3.2% [9] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [9]

European Wax Center, Inc. (EWCZ) came out with quarterly earnings of $0.15 per share, beating the Zacks Consensus Estimate of $0.08 per share. This compares to earnings of $0.08 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 87.50%. A quarter ago, it was expected that this company would post earnings of $0.06 per share when it actually produced earnings of $0.13, delivering a surprise of 116.67%. Over the last four quarters, ...

Core Viewpoint - European Wax Center is facing significant challenges with growth, as evidenced by a sharp decline in stock price following earnings results that beat expectations on profit but missed on sales [1][5]. Financial Performance - Analysts had forecasted earnings of $0.08 per share on sales of $61.3 million for the second quarter, but the actual earnings were $6 million, or $0.12 per share, while sales were $59.9 million [2][3]. - Earnings grew by 6% year over year, despite only a 1% increase in sales [3]. Management Changes - The company announced a change in leadership, with David Willis stepping down as CEO and being replaced by David Berg, which raises concerns among investors [3][6]. Future Guidance - European Wax Center has revised its guidance for fiscal 2024, reducing the number of planned new shop openings from 80 to between 27 and 32, with 15 already opened [4]. - The revenue forecast has been cut to between $216 million and $221 million, and the same-store sales growth forecast has been adjusted from 2%-5% to 0.5% to negative 1.5% [4]. Market Sentiment - The decline in sales at existing locations, coupled with a reduction in new store openings, has led to negative sentiment regarding the stock [5]. - The company did not provide a GAAP forecast but indicated that adjusted income would be between $19 million and $22 million, translating to no better than $0.45 per share, which is still above Wall Street's forecast of $0.37 [6].