By Denny Jacob
European Wax Center posted a year-over-year decline in top- and bottom-line results in its fourth quarter.
The franchiser of hair-removal waxing salons on Tuesday logged net income of about $2 million compared to $2.4 million in the prior-year period. Analysts polled by FactSet expected about $2.5 million.
Revenue edged down to $49.7 million from $56.3 million. Analysts polled by FactSet expected $52.2 million.
System-wide sales, which represents sales for both franchisee-owned and corporate-owned centers, declined to $229.3 million from $241.7 million.
Chief Executive Chris Morris reiterated the company's expectations for 2025 to be a transitional year. "I am still finalizing our long-term strategic plan, but we have already made substantial progress identifying key near-term priorities and moving with urgency to execute against them," he added.
For fiscal 2025, European Wax Center forecast revenue between $210 million and $214 million. Analysts polled by FactSet expected $224.7 million.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
March 11, 2025 06:29 ET (10:29 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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