Breaking News

Second Quarter Decline at Regis

November 30, -0001

Regis Corp., which operates beauty salons and hair restoration centers and provides cosmetology education, reported a 5.4% decline in same store sales for the second quarter versus a 0.8% slip in the same period a year ago, missing the firm’s own projection. The company had projected same-store sales for the three months ended Dec. 31 would come in between a decline of 1% and an increase of 1%.

Total revenues also declined, dropping 4% to $655.1 million from $682.2 million in the second quarter of 2007. Analysts expected sales of $694.9 million, according to Yahoo Finance. Deconsolidation of Regis’ European franchise salon operations reduced revenue in the quarter by approximately $17 million, the company stated, adding that excluding the impact of the European deconsolidation, revenues would have decreased 1.6%.

Paul D. Finkelstein, company chairman and chief executive officer, said, “Operationally, we will be profitable in the second quarter and for the full fiscal year.” On the plus side, its North American salon business was up slightly to $579.2 million, a 0.5% gain from $576.1 in the year-ago period. International salon sales, however, dropped 43.5% to $41.3 million from $73.1 million a year ago.

blog comments powered by Disqus
  • Innovation On Display

    Melissa Meisel, Associate Editor||February 3, 2016
    P&G Beauty Digital Studio showcases new products for 2016

  • Crowning Glory

    Crowning Glory

    Christine Esposito , Associate Editor||February 3, 2016
    Celebrity stylists and experts from leading hair care brands talk about the ingredients and formats driving the styling sector.

  • Electric Slide

    Electric Slide

    Melissa Meisel, Associate Editor||February 3, 2016
    Skin care devices bring anti-aging to the next level