8/1/2023 0 Comments European waxcenter![]() Results for the First Quarter of Fiscal 2023 versus Fiscal 2022 Our efforts are designed to generate long-term revenue growth, enabling margin expansion and significant free cash flow over time – all of which we believe will translate into substantial value creation for our franchisees and our shareholders.” Berg continued, “We are reiterating our fiscal 2023 outlook, anchored by the resilience and consistency of our Wax Pass holders and routine guests, coupled with balanced initiatives in place to bolster trends in the current dynamic environment. These efforts continue to generate recurring and predictable visits, giving us confidence in the health of our business model over the long term.” We also delivered 5.5% system-wide sales growth, and we are focused on further strengthening guest engagement and valuable Wax Pass adoption through our “Attract More, Buy More, and Visit More” strategy. ![]() This record growth underscores the strong demand from our well-capitalized franchisee base. We opened 34 net new centers during the quarter, which represents not only 12% growth year-over-year but also the highest single-quarter new center openings since our founding in 2004. stated: “We are pleased with our solid performance in the first quarter, as we continued to deliver on our two key growth vectors – unit growth and in-center sales growth. (NASDAQ: EWCZ), the largest and fastest-growing franchisor and operator of out-of-home waxing services in the United States, reports financial results for the 13 weeks ended April 1, 2023.ĭavid Berg, Chief Executive Officer of European Wax Center, Inc. PLANO, Texas, (GLOBE NEWSWIRE) - Today, European Wax Center, Inc. GAAP net loss of $1.1 million and Adjusted EBITDA of $16.3 million.Total revenue of $49.9 million increased 9.8%.System-wide sales of $218.4 million increased 5.5%.Net new centers increased 11.9% to 978 total centers in 45 states.The first step cleanses the skin of makeup and skin oil, the second step uses a pre-wax oil that allows the wax to stick to just the hair on body and not the skin, the third step is the application of the wax to remove hair, and the fourth step is an application of a final treatment for the skin.PDF Version Reiterates fiscal 2023 outlook Brand Process įranchises use a four-step waxing process. ![]() In 2019, the brand moved its headquarters from Aventura, FL to Plano, TX, bringing with them an increase in jobs in the hair removal industry. David Berg previously worked as the CEO at Carlson Hospitality with additional experience at Bloomin’ Brands, General Nutrition Centers, and Best Buy. David Coba acted as the Chief Executive Officer (CEO) for 14 years. In 2008, the siblings started franchising European Wax Center. ![]() Siblings Joshua and David Coba, founded European Wax Center as single center in Aventura, Florida in 2004. The chain has 878 locations in the United States, including locations in Alabama, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Utah, Virginia, Washington, West Virginia, and Wisconsin. Founded in Aventura, Florida in 2004 and based in Plano, TX, European Wax Center is run through franchising. The salons typically are 1,200 to 1,400 square feet (130 m 2) and employ 10 to 15 people. European Wax Center is a major chain of hair removal salons that offers waxing services as well as products in the skincare, body, and brow categories.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |