Business
European Wax Center, Inc. Reports Record Second Quarter Fiscal 2021 Results and Introduces Guidance for Fiscal 2021
Second Quarter Highlights (fiscal 2021 compared to fiscal 2020 and fiscal 2019 second quarter) System-wide sales were $218.5 million, a 443% increase from the
About this update from European Wax Center, Inc.
[{"type":"text","content":"Second Quarter Highlights (fiscal 2021 compared to fiscal 2020 and fiscal 2019 second quarter) System-wide sales were $218.5 million, a 443% increase from the second quarter of fiscal 2020 and a 15% increase from the second quarter of fiscal 2019 Same-store sales rose 6.9% from the second quarter of fiscal 2019, a 13.1 percentage point increase from the first quarter 2021 same-store decline of 6.2% Total revenue increased 343% to $47.9 million from the second quarter of fiscal 2020 and 11% from the second quarter of fiscal 2019Net income grew $19.1 million to $7.7 million from the second quarter of fiscal 2020 and increased $3.9 million from the second quarter of fiscal 2019Adjusted EBITDA grew $20.9 million to $19.8 million from the second quarter of fiscal 2020 and increased $8.4 million from the second quarter of fiscal 2019Introduce fiscal year 2021 guidance DALLAS, Sept. 14, 2021 (GLOBE NEWSWIRE) -- Today, European Wax Center, Inc. (NASDAQ: EWCZ), a leading personal care franchise brand founded in 2004, reports financial results for the 13 and 26 weeks ended June 26, 2021, compared to June 27, 2020, and June 29, 2019. David Berg, Chief Executive Officer of European Wax Center, Inc., stated: \"We are pleased to report strong second quarter results in a challenging environment. The quarter included significant sales and profit growth relative to pre-pandemic performance and with sales momentum building sequentially from our most recent two quarters, a positive indicator that guests continue to return to their beauty and personal care regimen following pandemic related closures. To this end, same store sales increased 6.9% on a two-year basis, which represents a 13-percentage point improvement from the first quarter of fiscal 2021. Total revenue for the second quarter of 2021 was up 11% compared to 2019 levels, driven by new center openings, new guest acquisition, long-standing guest retention, and positive product sales momentum. We continue to see guest demand consistent with the non-discretionary services we provide, which demonstrates our guests' trust in and loyalty to our brand and our unparalleled experience as the leader in out-of-home waxing. The quarter also saw continued network expansion with 41 net new center openings since the second quarter of fiscal 2020 and 81 net new center openings since the second quarter o...