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