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
  • What's Next for the UK?

    Sarah Boumphrey, Euromonitor International||June 24, 2016
    Euromonitor weighs in on the implications for consumer product companies.

  • Henkel Grabs the Sun

    Henkel Grabs the Sun

    Ian Bell, Euromonitor International||June 24, 2016
    Euromonitor's Ian Bell on the impact the purchase will have on the US detergent industry.

  • To The Max

    To The Max

    Melissa Meisel, Associate Editor||June 20, 2016
    Velvet 59 is on the rise at locations like Ricky’s NYC.

  • Take Notice

    Take Notice

    Melissa Meisel , Associate Editor||June 1, 2016
    Packaging trends revolve around trendy artwork, eco-conscious materials—and portability is a plus too!

  • Virtual Reality

    Virtual Reality

    Christine Esposito, Associate Editor||June 1, 2016
    An update on nature-identical ingredients for cosmetics and personal care products.

  • Shiseido Advances in the US

    Shiseido Advances in the US

    Tom Branna, Editorial Director||June 1, 2016
    New facility in Windsor, NJ demonstrates its dedication to the US and other markets outside Japan.