European Wax Center (EWCZ) Surges 8.0%: Is This an Indication of Further Gains?

Group 1 - European Wax Center, Inc. (EWCZ) shares increased by 8% to close at $6.87, with a notable trading volume and a 23.5% gain over the past four weeks [1][2] - The company is focusing on innovative marketing and technology solutions to attract new guests and enhance engagement with existing ones, supported by committed franchise partners for long-term development [2] - For fiscal 2024, European Wax Center anticipates system-wide sales to be near the top end of its previous guidance, driven by strong fourth-quarter Wax Pass sales and guest loyalty [2] Group 2 - The company is expected to report quarterly earnings of$ 0.05 per share, reflecting a year-over-year decline of 50%, with revenues projected at $52.13 million, down 7.5% from the previous year [3] - The consensus EPS estimate for the quarter has remained unchanged over the last 30 days, indicating that stock price movements may not sustain without trends in earnings estimate revisions [4] - European Wax Center holds a Zacks Rank of 3 (Hold), similar to e.l.f. Beauty, which experienced a 6.7% decline in its last trading session [4][5]