European Wax Center 3Q Profit Falls with Less Revenue, Higher Costs

Dow Jones11-14

By Dean Seal

European Wax Center recorded a smaller profit in the third quarter as costs shot up and revenue slipped slightly.

The franchiser of hair-removal waxing salons posted a profit of $2 million, compared with $4.2 million in the same quarter a year ago. Stripping out one-time items, adjusted earnings were $5.5 million.

Total revenue ticked down to $55.4 million from $55.7 million in the year-ago quarter.

System-wide sales, which represents sales for both franchisee-owned and corporate-owned centers, also stepped down slightly to $240.7 million.

Overhead costs meanwhile jumped 22% to $17.5 million.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

November 14, 2024 06:26 ET (11:26 GMT)

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