European Wax Center, Inc. Provides Update Ahead of the 2025 ICR Conference

Core Viewpoint - European Wax Center, Inc. anticipates solid fiscal 2024 results with 23 net new center openings, exceeding previous expectations of 17 to 22 [3][4]. Fiscal 2024 Performance and Outlook - The company expects system-wide sales to be between $947 million and $950 million, an increase from the previous outlook of $930 million to $950 million [4]. - Same-store sales are projected to range from 0.0% to 0.2%, a significant improvement from the previous forecast of (1.5)% to 0.5% [4]. - Total revenue is estimated to be between $216 million and $221 million [6]. - Adjusted net income is expected to be between $19 million and $22 million [6]. - Adjusted EBITDA is projected to be between $70 million and $74 million, which includes up to $4 million of costs related to the company's investment in laser hair removal [6][9]. Share Repurchase Program - The company repurchased approximately 1.6 million shares for $10 million during the fourth quarter, with a cumulative repurchase of $40.1 million out of the $50 million authorized under its current share repurchase program [6]. Leadership and Strategic Focus - Chris Morris, the new CEO, expresses confidence in leveraging the company's business model for sustained growth and long-term value for stakeholders [3]. - The management remains focused on action plans to attract new guests and increase ticket sales [3]. Company Overview - European Wax Center, Inc. is the leading franchisor and operator of out-of-home waxing services in the U.S., with over 1,000 centers across 45 states [10]. - The company performed more than 23 million services annually and generated sales of $955 million in fiscal 2023 [10]. - The company emphasizes its innovative Comfort Wax® and proprietary products to enhance the waxing experience [10].