Why European Wax Center Stock Just Crashed 26%
EWCZEuropean Wax Center(EWCZ) The Motley Fool·2024-08-15 01:53

European Wax Center has a new CEO -- and a new problem with growth. The U.S. macroeconomics story of consumers cutting back on discretionary purchases continues. Shares of European Wax Center (EWCZ -27.99%) got destroyed this afternoon -- down 26.6% through 12:30 p.m. ET -- after the company apparently beat on earnings but missed on sales. Analysts forecast the body-hair removal franchisor would earn $0.08 per share on $61.3 million in sales in the second quarter, or about $3.9 million. Actual earnings were ...