Regis' Q4 revenue near flat, same store sales drop 1.7% on lower traffic
Regis Corp (NYSE:RGS) announced Friday its total revenues in the fourth quarter were near flat, while its same store sales dropped 1.7% compared to the previous year period.
For the three months ending June 30, the hair care giant posted total revenues of $591.8 million, compared to $589.9 million in the same period a year earlier.
The company said its customer visits declined 2.5% in the quarter. Revenues from its service segment, which includes its 12,700 salons and hair restoration centres worldwide under brands like Supercuts, Regis Salons, and Hair Club for Men, fell to just under $404 million.
However, revenues from Regis' international salons unit, which includes brands like Jean Louis David, Franck Provost and MY Style, mainly in Europe and Asia, increased 2.4% to $42.5 million.
Regis' same store sales decreased 1.7% over the quarter, compared to a 2.7% drop a year before.
"As we move into fiscal 2012, we expect sequential improvement in customer visitation trends," said president Randy L. Pearce.
"We remain laser focused on executing our strategies, which centre on increasing customer visits and improving profitability."
Regis, whose stock on the New York Stock Exchange slipped 0.19% to trade at $15.67 per share as of 11:14 am EDT on Friday, said it will announce its fourth quarter earnings at the end of August.
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