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Dec 25, 2021
European Wax Center Q4 2021 Earnings Report
European Wax Center reported record results driven by new center expansion, same-store sales acceleration, significant new guest acquisition and strong Wax Pass sales.
Key Takeaways
European Wax Center reported a strong fourth quarter and fiscal year 2021, with total revenue and profit exceeding full-year guidance. The company's success is attributed to its business model, recurring services, and network agility. The company intends to optimize its capital structure and expects another year of strong growth.
System-wide sales increased 51.2% from Q4 2020 and 23.2% from Q4 2019.
Total revenue increased 53.8% from Q4 2020 and 35.0% from Q4 2019.
GAAP net income improved $8.9 million from Q4 2020 and $38.2 million from Q4 2019.
The Company opened 20 net new centers during the quarter.
European Wax Center
European Wax Center
Forward Guidance
European Wax Center provided fiscal year 2022 outlook, including total revenue growth in excess of long-term framework.