12.01.17
Regis Corporation, known for its hair care and salon expertise, is getting a trim. It has completed the sale and franchise of substantially all of its International segment to The Beautiful Group, an affiliate of Regent, who operates as the company’s largest franchisee.
This transaction includes the company’s approximately 250 Regis Salons and Supercuts salons in the UK. Regis previously announced that it had sold and franchised substantially all of its mall-based salon business in North America to The Beautiful Group.
For the full year at Regis, sales slipped 5.5% to $1.7 billion.
Hugh Sawyer, president and chief executive officer of Regis, commented, “I am grateful for the efforts of our employees and franchise partners in 2017 and the loyalty of our guests and shareholders. Management is increasing the cadence of decision making required to restructure our portfolio, execute the operational turnaround of our company-owned salons and accelerate the growth of our franchise business. We expect the elements of our strategy to be transformational for our guests and employees and value-enhancing for our shareholders.”
This transaction includes the company’s approximately 250 Regis Salons and Supercuts salons in the UK. Regis previously announced that it had sold and franchised substantially all of its mall-based salon business in North America to The Beautiful Group.
For the full year at Regis, sales slipped 5.5% to $1.7 billion.
Hugh Sawyer, president and chief executive officer of Regis, commented, “I am grateful for the efforts of our employees and franchise partners in 2017 and the loyalty of our guests and shareholders. Management is increasing the cadence of decision making required to restructure our portfolio, execute the operational turnaround of our company-owned salons and accelerate the growth of our franchise business. We expect the elements of our strategy to be transformational for our guests and employees and value-enhancing for our shareholders.”