We have a great business model and, over time, customer visits will normalize. Until then, we will continue to focus on increasing our average ticket and, more specifically, implementing price increases.”
Mr. Finkelstein continued, “The outlook for the second half of our fiscal year has not changed and we expect our same-store sales to be in the range of 0.5 to 2.5 percent. Our service business is off to a strong start with North American same-store service sales increasing over 3.5 percent in the first 20 days of the quarter and total North American same-store sales increasing over 1.2 percent.
However, based on the results of the first two quarters, we now expect our full fiscal year 2008 same-store sales to be in the range of 0.25 to 1.25 percent and related earnings to be in the range of $2.01 to $2.14 per diluted share.”
During the quarter, Regis added a net total of 52 locations. The Company constructed 74 locations and franchisees built an additional 69 units. In addition, Regis acquired 19 corporate salons (including 18 franchise buybacks). The Company closed or relocated 92 corporate and franchise locations during the quarter.
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