XpresSpa to Present at the 2020 Wall Street Conference and Retreat Today, Company to Announce Fourth Quarter 2019 Financial ...
February 19 2020 - 9:00AM
XpresSpa Group, Inc. (Nasdaq: XSPA) (“XpresSpa” or the “Company”),
a health and wellness company, announced that CEO Doug Satzman will
present at the 2020 Wall Street Conference and Retreat today,
Wednesday, February 19th at 11:30 a.m. Eastern Time at the Hilton
West Palm Beach and Convention Center and host investor meetings on
Thursday, February 20th.
The 2020 Wall Street Conference and Retreat is
an exclusive, invitation-only event being held on Wednesday and
Thursday, February 19th and 20th, for money managers, brokers,
funds, and family offices. XpresSpa will also bring massage
therapists and chairs (mini spa) to the event for the benefit of
participants.
Separately, XpresSpa also announced that it will
report its fourth quarter 2019 financial results after the close of
the financial markets on Monday, March 30th. The announcement will
be followed by a conference call at 4:30 p.m. Eastern Time.
The conference call can be accessed live over
the phone by dialing 201-689-8263. A replay will be available after
the call and can be accessed by dialing 412-317-6671; the passcode
is 13699193. The replay will be available until April 13th. The
webcast can be accessed from Investor Relations section of the
Company’s website at http://xpresspagroup.com.
As a reminder, on January 14th, XpresSpa
provided preliminary financial results for the fourth quarter and
fiscal year ended December 31, 2019.
- A preliminary domestic comparable store sales increase of 7.7%
for the fourth quarter 2019, representing the third consecutive
quarter of positive comparable store sales growth and best
quarterly result of 2019. Notably, the preliminary December
domestic comparable store sales increase of 10.2% was the best
monthly result since January 2017.
- A preliminary domestic comparable store sales increase of 4.2%
for the full year 2019.
- The opening of a new spa in Concourse E at Hartsfield-Jackson
Atlanta International Airport in December 2019, joining existing
XpresSpa spas in Concourses A, C, and D.
- The closing of two tertiary spas in JFK International Airport
in December 2019 which had a negative contribution to
operations.
These preliminary financial results demonstrate
XpresSpa’s continued progress in strengthening operations and
exemplifies its brand positioning as the health and wellness
destination for the modern traveler.
In 2020, XpresSpa anticipates opening several
spas within successful, existing markets along with new markets,
particularly internationally, where the Company already operates
some of its most profitable locations. XpresSpa will look to
complete its systematic pruning of underperforming locations with
one more low sales volume spa targeted for an out-of-cycle spa
closure.
XpresSpa will also seek to extend its comparable
store sales momentum, improve four-wall margins and manage G&A
through effective cost management at the store and corporate level.
Importantly, the Company intends to forge new strategic
partnerships with brands that share XpresSpa’s commitment to health
and wellness and can further monetize its desirable real estate and
affluent customer base, as it has already done with Calm and
Persona.
Preliminary Results
Our financial statements for the quarter and
fiscal year ended December 31, 2019 are not yet available and our
independent registered public accounting firm, CohnReznick LLP, has
not completed its review of any financial statements for such
period. Our expectations with respect to our unaudited results for
the period discussed above are based upon management estimates.
Such results are preliminary and subject to revision based upon the
completion of our quarter and year-end financial closing process
and are not meant to be comprehensive for this period. Following
the completion of our quarter and year-end financial closing
process and review by our independent registered public accounting
firm, we may report financial results that could differ from these
estimates. While we believe that the above information and
estimates are based on reasonable assumptions, our actual results
may vary, and such variation may be material. Factors that could
cause the preliminary financial data and estimates to differ
include, but are not limited to: (i) additional adjustments in the
calculation of, or application of accounting principles, for the
financial results for the quarter and year ended December 31, 2019;
(ii) discovery of new information that affects accounting estimates
and management’s judgment underlying these estimated results; and
(iii) the completion of the review by our independent registered
public accounting firm of our financial results for the quarter and
year ended December 31, 2019.
About XpresSpa Group, Inc.
XpresSpa Group, Inc. (Nasdaq: XSPA) is a health
and wellness holding company. XpresSpa Group’s core asset,
XpresSpa, is a leading airport retailer of spa services and related
health and wellness products, with 51 locations in 25 airports
globally. XpresSpa offers services that are tailored specifically
to the busy travel customer. XpresSpa is committed to providing
exceptional customer experiences with its innovative premium spa
services, as well as luxury travel products and accessories.
XpresSpa provides almost one million services to customers per year
at its locations in the United States, Netherlands, and the United
Arab Emirates. To learn more about XpresSpa Group, visit:
www.XpresSpaGroup.com. To learn more about XpresSpa, visit
www.XpresSpa.com.
Forward-Looking Statements
This press release may contain "forward-looking"
statements within the meaning of Section 27A of the Securities Act
of 1933, and Section 21E of the Securities Exchange Act of 1934.
These include statements preceded by, followed by or that otherwise
include the words "believes," "expects," "anticipates,"
"estimates," "projects," "intends," "should," "seeks," "future,"
"continue," or the negative of such terms, or other comparable
terminology. Forward-looking statements relating to expectations
about future results or events are based upon information available
to XpresSpa Group as of today's date and are not guarantees of the
future performance of the company, and actual results may vary
materially from the results and expectations discussed. Additional
information concerning these and other risks is contained in
XpresSpa Group’s most recently filed Annual Report on Form 10-K,
Quarterly Report on Form 10-Q, recent Current Reports on Form 8-K
and other SEC filings. All subsequent written and oral
forward-looking statements concerning XpresSpa Group, or other
matters and attributable to XpresSpa Group or any person acting on
its behalf are expressly qualified in their entirety by the
cautionary statements above. XpresSpa Group does not undertake any
obligation to publicly update any of these forward-looking
statements to reflect events or circumstances that may arise after
the date hereof.
Investor Relations:ICRRaphael
Gross(203) 682-8253
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