secwatch.observer — SEC 8-K summary
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Issuer:     European Wax Center, Inc. (EWCZ)
CIK:        0001856236
Form:       8-K
Filed at:   2024-08-14T23:59:59+00:00
Accession:  0000950170-24-096630
Event type: leadership
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CEO David Willis departs, David Berg returns as CEO; Q2 net income up 7.3% but guidance slashed
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- David Willis stepped down as CEO on Aug 12, 2024; replaced by Executive Chair David Berg, who was CEO from 2018-2023.
- Q2 revenue $59.9M (+1.3% YoY); GAAP net income $6.0M (+7.3%); adjusted EBITDA $20.6M (-2.6%);
- FY 2024 guidance cut: total revenue $216-221M (down from $225-232M), same-store sales (1.5%) to 0.5% (prev. 2%-5%).
- Net new center openings outlook reduced to 27-32 from 75-80; company repurchased $10M of stock in Q2.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1856236/000095017024096630/0000950170-24-096630-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1856236/000095017024096630/ewcz-20240812.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-096630

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer