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European Wax Center, Inc. (NASDAQ: EWCZ), a leading franchisor and operator of out-of-home waxing services in the U.S., has announced the addition of Julia Hunter to its Board of Directors, effective as of August 1, 2024.
Hunter, currently the CEO of fashion brand Jenni Kayne, will serve on the Nominating and Governance committee. Her appointment coincides with the departure of Shaw Joseph from the Board following his exit from General Atlantic.
Julia Hunter brings to the European Wax Center a wealth of experience from the retail and consumer sectors, having led Jenni Kayne to significant revenue growth during her tenure. Her previous roles include strategic positions at high-profile companies such as Elizabeth and James, J. Crew, Louis Vuitton, and Loeffler Randall, as well as a background in investment banking at Revolution Partners.
David Willis, CEO of European Wax Center, expressed enthusiasm for Hunter's joining, citing her "deep experience at distinctive consumer brands" as a valuable asset in driving the company's strategic goals, including the expansion of new centers and in-center sales growth.
European Wax Center has established itself as a dominant player in the waxing industry, performing over 23 million services annually across its network of more than 1,000 centers in 45 states.
The company prides itself on its proprietary Comfort Wax® and a product line designed to enhance waxing results. With a commitment to creating a positive work environment, the company has been recognized as a Great Place to Work®.
The brand's leadership team, including Executive Chairman David Berg, has expressed confidence that Hunter's expertise will greatly benefit European Wax Center’s continued expansion. Berg also extended gratitude to Shaw Joseph for his contributions during his time on the Board.
InvestingPro Insights
As European Wax Center (NASDAQ: EWCZ) welcomes Julia Hunter to its Board of Directors, the company's financial health and market performance are pivotal for investors monitoring its growth trajectory. According to recent InvestingPro data, European Wax Center has a market capitalization of approximately $482.38 million USD, indicating its size and significance in the sector. The company's gross profit margin is impressive, standing at 72.33% for the last twelve months as of Q1 2024, reflecting its ability to maintain profitability amidst its expansion efforts. Despite recent market volatility, the company's gross profit remains robust at $161.3 million USD.
InvestingPro Tips highlight that European Wax Center's management has been proactively buying back shares, which could be a sign of confidence in the company's value. Additionally, the company is trading at a low price-to-earnings (P/E) ratio relative to its near-term earnings growth, currently at 31.95 when adjusted for the last twelve months as of Q1 2024. This may suggest that the stock is undervalued considering its growth prospects.
For those looking to delve deeper into European Wax Center's performance and prospects, there are more than 15 additional InvestingPro Tips available, offering insights into earnings revisions, stock price trends, and liquidity positions. Visit InvestingPro for a comprehensive analysis: https://www.investing.com/pro/EWCZ.
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