WCCO EYE4 LOGO WCCO Radio wcco-eye-white01, ww color white

Local

Regis Returns To Profit In 4Q, Revenue Declines

View Comments
(credit: Jupiter Images)

(credit: Jupiter Images)

Get Breaking News First

Receive News, Politics, and Entertainment Headlines Each Morning.
Sign Up
Today's Most Popular Video
  1. Good Question: How Do They Flip TCF Stadium?
  2. 4 Things For Sept. 17, 2014
  3. Group Wants Sunny D Out Of Schools
  4. Vikings Ban Adrian Peterson From Team Activities
  5. Fashion Week Comes To Twin Cities With 'Minnesota 4 Minnesota'

MINNEAPOLIS (AP) — The hair salon operator Regis returned to a profit in its fiscal fourth quarter although a key revenue figure and a measure of customer traffic fell.

Regis, with brands including Supercuts, MasterCuts and others, earned $675,000, or 1 cent per share, for the three months ended June 30. That compares with a loss of $63.6 million, or $1.11 per share, a year ago.

Removing labor costs, a write-down tied to underperforming salons and other items, earnings were 6 cents per share.

Revenue dropped 5 percent to $502.3 million from $528.8 million.

Revenue at stores open at least a year, a key indicator of a retailer’s health, declined 3.1 percent. This metric excludes results from stores recently opened or closed. While the figure fell, it was better than the 3.5 percent drop in the prior-year period.

There was a 3.4 percent drop in the number of customers during the quarter, while the average ticket price edged up less than 1 percent.

For the year, Regis Corp. earned $29.2 million, or 51 cents per share. In the previous year the company lost $114.1 million, or $2 per share. Annual revenue fell 5 percent to $2.02 billion from $2.12 billion.

Revenue at stores open at least a year dropped 2.4 percent, which was a slower decline than the 3.5 percent dropoff a year ago.

Regis owned, franchised or held ownership interests in 9,763 salons at the quarter’s end. Its shares finished at $17.16 on Monday.

(© Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

View Comments
blog comments powered by Disqus
Follow

Get every new post delivered to your Inbox.

Join 1,861 other followers