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Dec 31, 2022
European Wax Center Q4 2022 Earnings Report
European Wax Center reported record results driven by increased guest spending and new center openings.
Key Takeaways
European Wax Center, Inc. reported record fourth quarter and fiscal year 2022 results. The company's total revenue increased by 18.7% compared to the prior year period. System-wide sales grew by 11.6% driven by increased guest spending and net new centers. The company issued a fiscal 2023 outlook, including 10% unit growth.
Opened 33 net new centers.
System-wide sales grew 11.6% to $225.4 million.
Total revenue increased 18.7% to $53.5 million.
Same-store sales increased 6.3%.
European Wax Center
European Wax Center
European Wax Center Revenue by Segment
Forward Guidance
European Wax Center issued fiscal year 2023 outlook, including new center openings, system-wide sales, total revenue, same-store sales, adjusted net income and adjusted EBITDA.
Positive Outlook
- New Center Openings, Net: 95 to 100
- System-Wide Sales: $965 million to $990 million
- Total Revenue: $222 million to $229 million
- Same-Store Sales: Mid-Single Digits
- Adjusted EBITDA: $77 million to $80 million