European Wax Center raises FY2024 sales outlook, reports 23 net openings; new CEO Chris Morris starts

European Wax Center, Inc.

FY2024 net new center openings 23 (guidance 17-22); system-wide sales guidance raised to $947-950M.
Same-store sales guidance narrowed to 0.0%-0.2% from (1.5)% to 0.5%; revenue outlook $216-221M reaffirmed.
Repurchased 1.6M shares for $10M in Q4; cumulative $40.1M of $50.0M authorization used.
CEO Chris Morris assumes role; highlights strong free cash flow and growth momentum from David Berg.

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