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Regis Q4 total same-store sales go up
12
Jul '08
Regis Corporation the global leader in the $170 billion hair care industry, reported consolidated revenues increased 5.0 percent in the fourth fiscal quarter of 2008 to a record $709 million, compared to $675 million a year ago.

Fiscal year 2008 revenue increased 4.3 percent to $2.7 billion, compared to $2.6 billion a year ago. Deconsolidation of the beauty schools and the European franchise salon operations reduced revenue in the quarter by approximately $31.5 million and reduced fiscal year revenues by approximately $86.9 million.

Absent the impact of the school and European deconsolidation, consolidated revenues for the quarter and fiscal year would have increased 10.1 and 7.9 percent respectively.

Fourth quarter total same-store sales increased 0.6 percent, falling within the previously issued guidance of 0.5 to 2.5 percent.

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Service same-store sales increased 2.6 percent during the fourth quarter. Fiscal year 2008 same-store sales increased 0.5 percent.

On August 1, 2007, Regis Corporation contributed substantially all of its accredited cosmetology schools to Empire Education Group Inc.

On January 31, 2008, Regis Corporation merged its continental European franchise salon operations with the Franck Provost Salon Group.

International same-store sales for the quarter represent the 16-week period ended June 28, 2008 versus the 16-week period ended June 23, 2007.

International same-store sales for the year represent the 52-week period ended June 30, 2008 versus the 52-week period ended June 23, 2007.

The company began including Hair Restoration Centers in its same-store sales calculation beginning with the third fiscal quarter of 2007.

Regis Corporation will announce fourth quarter 2008 earnings results on August 20, 2008. A conference call discussing third quarter results will follow at 4:00 p.m., Central time.

Regis Corporation


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