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].

Second Quarter Fiscal 2024 versus 2023 Net new centers increased 5.6% to 1,059 total centers in 45 states System-wide sales of $260.2 million increased 2.3% Total revenue of $59.9 million increased 1.3% Same-store sales increased 1.6% GAAP net income of $6.0 million increased 7.3% Adjusted net income of $7.3 million increased 4.0% Adjusted EBITDA of $20.6 million decreased 2.6% PLANO, Texas, Aug. 14, 2024 (GLOBE NEWSWIRE) -- Today, European Wax Center, Inc. (NASDAQ: EWCZ), the largest and fastest-growing fr ...

PLANO, Texas, Aug. 14, 2024 (GLOBE NEWSWIRE) -- Today, European Wax Center, Inc. (NASDAQ: EWCZ) (the "Company" or "European Wax Center"), the largest and fastest-growing franchisor and operator of out-of-home waxing services in the United States, announced that the Board of Directors has appointed David Berg as Chief Executive Officer (CEO), effective August 12, 2024. Mr. Berg succeeds David Willis, who served as CEO and previously held various positions including President, Chief Operating Officer and Chie ...

Group 1 - Analysts project European Wax Center, Inc. (EWCZ) will announce quarterly earnings of $0.08 per share, with revenues expected to reach $61.27 million, reflecting a 3.7% increase year over year [1] - The consensus EPS estimate has remained unchanged over the last 30 days, indicating stability in analysts' assessments [1][2] - The correlation between earnings estimate revisions and short-term stock price performance is emphasized as a significant indicator for investor actions [2] Group 2 - Revenue from marketing fees is estimated at $8.10 million, indicating a 2.3% increase from the prior-year quarter [4] - Revenue from royalty fees is projected to reach $14.96 million, suggesting a 5.8% year-over-year change [4] - Revenue from product sales is expected to be $34.96 million, reflecting a 3.7% increase year over year [4] Group 3 - Other revenue is forecasted to reach $3.32 million, indicating a 0.6% increase from the prior-year quarter [5] - The ending center count is expected to reach 1,063, up from 1,003 a year ago [5] - New center openings are projected to be 12, a decrease from 25 reported in the same quarter of the previous year [5] Group 4 - EWCZ shares have decreased by 21.8% in the past month, contrasting with the S&P 500 composite's decline of 4.5% [5] - EWCZ holds a Zacks Rank 4 (Sell), indicating expectations of underperformance relative to the overall market in the near term [5]

PLANO, Texas, Aug. 06, 2024 (GLOBE NEWSWIRE) -- Today, European Wax Center, Inc. (NASDAQ:EWCZ) (the "Company" or "European Wax Center"), the largest and fastest-growing franchisor and operator of out-of-home waxing services in the United States, announced the appointment of Julia Hunter to its Board of Directors ("Board"), effective August 1, 2024. Ms. Hunter will serve on the Nominating and Governance committee. Ms. Hunter joins the European Wax Center Board currently serving as the CEO of luxury Californi ...

Company Overview - European Wax Center, Inc. (NASDAQ: EWCZ) is the largest and fastest-growing franchisor and operator of out-of-home waxing services in the United States [3] - The company operates more than 1,000 centers across 45 states and performed over 23 million services annually [3] - In fiscal 2023, the company generated sales of $955 million [3] Upcoming Financial Results - The company plans to report its second quarter fiscal year 2024 financial results before the market opens on August 14, 2024 [1] - Following the release, management will host a conference call at 8:00 a.m. ET/7:00 a.m. CT to review the results [1] Service and Product Innovation - European Wax Center has developed an innovative Comfort Wax® that is designed to enhance the waxing experience by using high-quality ingredients [3] - The company offers a collection of proprietary products aimed at enhancing and extending waxing results [3] Company Values and Recognition - The company emphasizes its core values: We Care About Each Other, We Do the Right Thing, We Delight Our Guests, and We Have Fun While Being Awesome [3] - European Wax Center is proud to be Certified™ by Great Place to Work® [3]

The Experts in Eyebrows Offer FDA-Compliant Formula for Eyebrow Tint PLANO, Texas, Aug. 1, 2024 /PRNewswire/ -- European Wax Center, Inc. (NASDAQ: EWCZ), the largest and fastest-growing franchisor and operator of out-of-home waxing services in the United States, is excited to introduce Eyebrow Tint to its service portfolio beginning August 1, 2024. Known as the "Experts in Eyebrows", the company has been providing its popular brow services and products across 45 states. With its new tint service, EWC will n ...

Core Viewpoint - The options market indicates significant implied volatility for European Wax Center, suggesting potential trading opportunities and expectations of substantial stock movement in the near future [2][3][5]. Company Analysis - European Wax Center, Inc. (EWCZ) has seen notable activity in the options market, particularly with the Sept 20, 2024 $5.00 Put option exhibiting some of the highest implied volatility among equity options [3]. - The company currently holds a Zacks Rank of 3 (Hold) within the Cosmetics industry, which is positioned in the top 38% of the Zacks Industry Rank [6]. - Over the past 60 days, there has been no increase in earnings estimates from analysts for the current quarter, with one analyst reducing their estimate, leading to a decrease in the Zacks Consensus Estimate from nine cents per share to eight cents per share [6].

Building on the disclosures established with European Wax Center's inaugural 2022 ESG Report, the 2023 ESG Report is aligned with International Financial Reporting Standards (IFRS) Foundation's SASB standards for the Professional & Commercial Services industry and highlights initiatives, performance and progress across key ESG areas for the Company during fiscal year 2023. The 2023 ESG Report covers European Wax Center's performance and related metrics on priority ESG topics. Key highlights include: For mor ...