BUZZ-European Wax Center hits record low after dour annual forecasts

Reuters
11 Mar
BUZZ-European Wax Center hits record low after dour annual forecasts

** Shares of out-of-home waxing services provider European Wax Center EWCZ.O fall as much as 46.77% to an all-time low of $2.72 in early trading

** Co forecasts annual revenue, same-store sales, and core profit below expectations, according to data compiled by LSEG

** Q4 revenue fell 11.7% and missed estimates, while co beat expectations for quarterly adjusted EBITDA

** Separately, co said it appointed Thomas Kim as CFO, effective April 7, to succeed Stacie Shirley, who will stay on as strategic advisor till April 30

** EWCZ fell 51% in 2024 and was down 23.4% YTD as of last close

(Reporting by Neil J Kanatt in Bengaluru)

((Neil.JKanatt@thomsonreuters.com;))

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