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European Wax Center reports Q4 revenue $53.5M, consensus $51.07M
The Fly

European Wax Center reports Q4 revenue $53.5M, consensus $51.07M

Reports Q4 net income $2.3M vs. $4.4M last year. Same-store sales increased 6.3%. CEO David Berg stated: "We delivered record full year results in line with the guidance we provided at the beginning of 2022, demonstrating the stability of the European Wax Center model in a dynamic environment. We grew net new centers by over 10% and ended the year with our deepest pipeline ever…Our strong Q4 and full year results continue to validate European Wax Center’s position as the leader in out-of-home waxing. Looking ahead to fiscal 2023, we are well-positioned to deliver another year of growth, driven by new center openings and in-center sales. Quarter-to-date transaction trends remain consistent with the past two quarters, and our 2023 top line outlook assumes continued stability supported by the unwavering loyalty of our recurring Wax Pass guests. We look forward to extending our leadership position as the category killer and creator as we continue taking share in this growing, highly fragmented category."

Published first on TheFly

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