logo
Share SHARE
FONT-SIZE Plus   Neg

Regis Q3 Revenues Decline - Update

Regis Corp.(RGS) Monday reported a 1.3 percent decline in consolidated revenues for the third quarter. The hairstyling and hair care salons operator said its same-store sales for the period decreased 3.4 percent, compared to a 2.3 percent decline last year.

Eric Bakken, executive vice president and interim corporate chief operating officer stated," Third quarter same-store sales results came in at the lower end of our expectations. However, we are encouraged by our March same-store sales which were down 1.7 percent versus down 4.3 percent for the first two months of the quarter."

The company said it is taking aggressive steps to improve performance by simplifying operating model and focusing business around four distinct consumer segments with differentiated marketing strategies and product offerings. Regis further noted that it is vigilant in controlling costs and increasing operating efficiencies.

Revenues for the quarter dropped to $573.62 million from $581.27 million in the previous year. Revenues from North America saloons were $503.35 million, down from $509.84 million in the prior year. International saloons operations revenues declined to $32.59 million from $35.54 million a year ago.

Meanwhile, revenues from Hair Restoration centers increased to $37.69 million from $35.89 million in the same quarter last year.

North America same-store sales dropped 3.5 percent and international same-store sales fell 10.6 percent, compared to a 2 percent decline last year. Hair Restoration same-store sales grew 4.3 percent, in comparison with a 1.3 percent rise in the preceding year.

Same-store customer counts decreased 3 percent for the quarter.

RGS closed Thursday's regular trading at $17.92 on the NYSE.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Media and entertainment giant Walt Disney Co. said Tuesday that Christine McCarthy, the company's Treasurer for the past 15 years, will succeed James Rasulo as Chief Financial Officer. A blast at the Al-Imam al-Sadeq mosque in Kuwaiti capital killed eight people. Several people were wounded in the explosion, probably a suicide bombing, after the Friday prayers. Many are said to be in critical condition. One was killed in a probable ISIS attack at U.S. based Air products and Chemicals' industrial site in France. According to media reports, a car disguised as a delivery vehicle was rammed into Air product site in Schiltigheim, Southeast France. Police arrested a young man of around 30 years old, who is suspected to have connections with Islamic State.
comments powered by Disqus
RELATED NEWS
Trade RGS now with 
Follow RTT