European Wax Center Sees FY23 System-Wide Sales Of $952M-$955M Versus Prior Guidance Of $945M-$955M And Same-Store Sales Of 2.5%-2.8% Versus 1.5%-2.5% Expected Earlier
Portfolio Pulse from Benzinga Newsdesk
European Wax Center (EWCZ) has updated its FY23 guidance, now expecting system-wide sales to be between $952M-$955M, slightly higher than the previous range of $945M-$955M. Additionally, the company has raised its same-store sales growth forecast to 2.5%-2.8%, up from the earlier estimate of 1.5%-2.5%.
January 08, 2024 | 11:14 am
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European Wax Center has raised its FY23 system-wide sales and same-store sales growth forecasts, indicating stronger performance than previously anticipated.
The upward revision in European Wax Center's financial guidance suggests the company is experiencing stronger growth than initially expected. This positive news is likely to be well-received by investors and could lead to a short-term increase in the stock price, as it reflects better-than-anticipated business performance and potential market share gains.
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