European wax center, inc. reports first quarter fiscal year 2024 results

Reiterates fiscal 2024 outlook  announces $50 million share repurchase program first quarter fiscal 2024 versus 2023 net new centers increased 7.5% to 1,051 total centers in 45 states system-wide sales of $221.4 million increased 1.3% total revenue of $51.9 million increased 4.0% same-store sales decreased 1.2% gaap net income of $3.7 million and adjusted net income of $4.8 million adjusted ebitda of $17.5 million increased 7.4% plano, texas, may 15, 2024 (globe newswire) -- today, european wax center, inc. (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 6, 2024. david willis, chief executive officer of european wax center, inc. stated, “we began 2024 with stable frequency and spend among our existing guests which led to positive system-wide sales and revenue growth in the first quarter and underpins our predictable, recurring business model.
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