Regis Corporation

[Tue 13/07/2010 11:46:38]

Regis Corporation, the global leader in the $150billion to $170 billion hair care industry has reported consolidated revenues decreased 5.6 percent in the fourth fiscal quarter of 2010 to $590 million, compared to $625 million a year ago. Fourth quarter total same-store sales decreased 2.7 per cent.

“The beauty salon segment of retailing is stil experiencing the lengthening of our time between customer visits, and as a result, fourth quarter same-store sales came in below ouyr plan,” said Chairman and CEO Paul D. Finkelstein. “We continue to execute on our disciplined strategy of strengthening our financial position by controlling expenses and moderating growth.

"Our average ticket continues to increase and there is no empirical evidence of the customer trading down in service or product sales. We are committed to generating top line revenue growth and we still expect same store results to improve throughout fiscal 2011, with positive comps budgeted in the second half of the year.”

Regis Corporation is the beauty industry’s global leader in beauty salons, hair restoration centres, and cosmetology education. As of March 31, 2010, the company owned, franchised or held ownership interests in over 12,700 worldwide locations.

Regis' franchised and corporate locations operate under concepts including Supercuts, Sassoon Salons, Regis Salons, MasterCuts, SmartStyle, Cost Cutters and Hair Club for Men and Women.

Regis Corporation will announce fourth quarter 2010 earnings results on August 26, 2010. A conference call discussing fourth quarter results will follow at 10.00am Central time. Interested parties are invited to listen in by logging on to www.regiscorp.com

(WorldPressOnline).