Regis Reports Fourth Quarter Revenues of $568M vs $579.7M Est
Regis Corporation (NYSE: RGS), the global leader in the $160 billion hair care industry, today reported consolidated fourth quarter fiscal 2012 revenues of $568 million, compared to $592 million a year ago. Fourth quarter total same-store sales decreased 3.0 percent.
“Fourth quarter same-store sales trends improved slightly over our third quarter,” said Eric Bakken, EVP, Interim Chief Executive Officer. “We are pleased with the significant progress made during the quarter as we continue to roll-out our strategy to improve the salon experience. During the quarter, we realigned our business into four distinct consumer segments and restructured our field organization around these segments. This reorganization increased focus, freed up resources and allowed us to establish a robust human resource function, which will help us hire and retain the best talent in our salons. Our new operating structure puts the right people in the right roles and provides us with the foundation to substantially improve the salon experience. Meaningful change is underway at Regis and, as we look forward to fiscal 2013, we expect these changes will drive improvement in our same-store sales results.”
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