07.07.09
Regis Corporation reported that consolidated revenues decreased 2.5% in the fourth fiscal quarter of 2009 to $625 million. Fourth quarter total same-store sales decreased 4.0%. Same-store sales for the year decreased 3.1%.
The good news is that company executives said that total debt at the end of fiscal 2009 is expected to be between $635 and $650 million, significantly below the previously announced goal of $700 million. The company's debt stood at $807 million as of September 30, 2008. The debt reduction was primarily the result of reducing overhead expenses, efficiently managing working capital and international cash balances, and reducing capital expenditures for new stores and acquisitions.
During the year, Premier Salons Beauty, Inc. (Premier) purchased Trade Secret, Inc. from Regis.
For the year ended June 30, sales declined 2% to $2.4 billion.
More info: www.regiscorp.com
The good news is that company executives said that total debt at the end of fiscal 2009 is expected to be between $635 and $650 million, significantly below the previously announced goal of $700 million. The company's debt stood at $807 million as of September 30, 2008. The debt reduction was primarily the result of reducing overhead expenses, efficiently managing working capital and international cash balances, and reducing capital expenditures for new stores and acquisitions.
During the year, Premier Salons Beauty, Inc. (Premier) purchased Trade Secret, Inc. from Regis.
For the year ended June 30, sales declined 2% to $2.4 billion.
More info: www.regiscorp.com