Business
European Wax Center, Inc. Provides Update Ahead of Presentation at ICR Conference
Ends fiscal 2021 with 853 centers and deepest pipeline ever PLANO, Texas, Jan. 10, 2022 (GLOBE NEWSWIRE) -- Today, European Wax Center, Inc. (NASDAQ: EWCZ), a
About this update from European Wax Center, Inc.
[{"type":"text","content":"Ends fiscal 2021 with 853 centers and deepest pipeline ever\nPLANO, Texas, Jan. 10, 2022 (GLOBE NEWSWIRE) -- Today, European Wax Center, Inc. (NASDAQ: EWCZ), a leading personal care franchise brand offering expert wax services, provided an update ahead of its virtual presentation at the 24th Annual ICR Conference, today, Monday, January 10, 2022 at 2:30 p.m. Eastern Time. David Berg, Chief Executive Officer of European Wax Center, Inc., stated: \"I am extremely proud of our development team for delivering 57 net new centers in fiscal 2021, nearly all of which were opened by existing franchisees. We believe this reflects our strong relationship with the network and their steadfast commitment to our future growth. We executed significant multi-unit commitments and ended the year with our deepest pipeline ever of more than 330 locations. Within our centers, we continued to delight our guests with excellent service in a trusting environment, leading to considerable growth in new guests versus 2019. We continue to monitor the impact of COVID and its variants, and we expect fiscal 2022 financial performance at least in line with our long-term growth targets. Most importantly, we remain focused on the significant opportunity ahead to leverage our leadership position in out-of-home waxing and our asset-light business model to fuel value creation for all European Wax Center stakeholders.” The Company is scheduled to present virtually at the ICR Conference on Monday, January 10, 2022, at 2:30 p.m. EST. The presentation will be broadcast over the internet and can be accessed at the Company’s investor relations website, investors.waxcenter.com. The presentation is expected to conclude by 2:55 p.m. EST. A replay of the broadcast will remain on the Company’s investor relations website for one year. The Company is introducing select guidance for fiscal 2022 to allow it to speak to its outlook during the presentation scheduled at the ICR Conference today. Investors should not expect the Company to provide updates to guidance ahead of regularly scheduled quarterly earnings dates in the future. The Company notes that its fiscal 2021 financial results are subject to quarter and year-end closing procedures, including a financial statement audit. The Company expects to publish its financial results for the fiscal year ended December 25, 2021 in Marc...