European Wax Center, Inc. (EWCZ), while reporting weak first-quarter results, on Wednesday raised its fiscal 2025 outlook for adjusted earnings, and maintained revenue view.
For fiscal 2025, the company now expects adjusted net income of $31 million to $33 million, higher than previous estimate of $16 million to $18 million.
The company continues to expect revenue of $210 million to $214 million, System-Wide Sales of $940 million to $960 million and same-Store Sales growth of 0.0 percent to 2.0 percent.
The Wall Street analysts on average expect the company to report revenues of $211.88 million. Analysts' estimates typically exclude special items.
The Company currently estimates that franchisees will open 10 to 12 new centers and close 40 to 60 centers, translating to 28 to 50 net center closings in fiscal 2025. The Company expects 7 to 8 net center closings during the second quarter.
In its first quarter, European Wax Center profit decreased from the same period last year
The company's bottom line came in at $1.73 million or $0.04 per share, compared with $2.76 million or $0.06 per share last year.
The company's revenue for the period fell 0.9 percent to $51.42 million from $51.87 million last year.
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