Courtesy of Benzinga.
Regis Corporation (NYSE: RGS) today reported consolidated revenues decreased 1.3 percent in the third fiscal quarter of 2012 to $574 million, compared to $581 million a year ago. Third quarter total same-store sales decreased 3.4 percent. Third quarter same-store customer counts decreased 3.0 percent.
“Third quarter same-store sales results came in at the lower end of our expectations. However, we are encouraged by our March same-store sales which were down 1.7 percent versus down 4.3 percent for the first two months of the quarter. The Regis management team is taking aggressive steps to improve the Company’s performance by simplifying our operating model and focusing our business around four distinct consumer segments with differentiated marketing strategies and product offerings. We remain confident and focused on our strategy to improve the salon experience for our customers. Additionally, we continue to be vigilant in controlling costs and increasing operating efficiencies,” said Eric Bakken, EVP, Interim Corporate Chief Operating Officer.
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