Regis Corporation - RGS STOCK NEWS

Regis Corporation (NYSE: RGS) reported a fourth quarter revenue of $66.1 million and full-year revenue of $276.0 million for the year ending June 30, 2022. This was a decline of 32.3% and 32.9% year-over-year, attributed to exiting loss-generating company-owned salons. System-wide same-store sales increased by 7.1% in Q4 and 14.8% for the fiscal year. The company achieved a positive adjusted EBITDA of $1.1 million in Q4, a significant turnaround from last year's loss. Debt restructuring extended maturity to August 2025, bolstering financial stability.

Regis Corporation (NYSE: RGS) has appointed Michelle DeVore as the new Senior Vice President, Head of Marketing. DeVore, who previously served at European Wax Center, will lead the company's digital marketing, advertising, and customer loyalty initiatives, leveraging the new Zenoti technology platform. CEO Matt Doctor expressed confidence that DeVore's expertise aligns with Regis' goals for customer retention and brand growth. Regis operates over 5,697 locations worldwide under various salon brands, including Supercuts and SmartStyle.

Regis Corporation (NYSE:RGS) will announce its fourth fiscal quarter financial results for the period ended June 30, 2022 on August 23, 2022, prior to market opening. Following the release, the company will conduct a webcast for investors starting at 9:00 a.m. Central time to discuss the results and corporate developments. As of March 31, 2022, Regis operated 5,697 locations globally, franchising prominent brands like Supercuts® and SmartStyle®.

Regis Corporation (NYSE: RGS) announced an amendment to its credit agreement, extending the maturity date from March 23, 2023 to August 31, 2025. The revised terms include a $180 million term loan and a $55 million revolving credit facility, with a reduced minimum liquidity covenant of $10 million. The CFO expressed optimism about these changes, indicating they provide liquidity for strategic investments. This amendment, alongside the sale of its salon management system, positions Regis to focus on its core business.

Regis Corporation (NYSE: RGS) announced the successful sale of Opensalon® Pro (OSP) to Zenoti, a leading technology provider for the beauty sector. This strategic move positions Zenoti as the exclusive salon technology platform for all Regis brands, enhancing digital engagement across their salons. Regis, which has nearly 5,700 locations worldwide, will start transitioning to Zenoti's platform in July. This collaboration aims to modernize customer interactions for Regis' three million monthly salon clients.

Regis Corporation (NYSE: RGS) has received a notice from the NYSE indicating that it does not meet continued listing standards. As of June 10, 2022, Regis’ 30-day average closing stock price was $0.89, below the $1.00 requirement, and its market capitalization was $40.7 million, below the $50 million threshold. Regis has six months to regain compliance with the share price and will submit a plan within 45 days regarding market capitalization. The notice does not impact business operations or reporting obligations.

Zenoti has partnered with Regis Corporation (NYSE:RGS), a haircare industry leader, to provide its technology platform to over 5,000 salon locations including Supercuts and SmartStyle. This collaboration aims to deliver a modern digital experience for more than three million salon guests monthly. Zenoti will also acquire Regis’ Opensalon Pro software and onboard all franchisees to its platform. Company's CEO Matthew Doctor stated the partnership is a strategic move to enhance operations and growth through improved data and marketing capabilities.

Regis Corporation (NYSE: RGS) has entered into an agreement to sell its Opensalon Pro salon management system to Zenoti, a recognized leader in beauty technology. This transaction, expected to close by the end of June 2022, will transition Regis to a sole salon technology platform under Zenoti. Regis anticipates receiving up to $39 million, enhancing its financial position while allowing focus on core haircare services. The partnership aims to enhance franchisee and customer experiences through improved operations and marketing capabilities.

Regis Corporation (NYSE: RGS) reported a third quarter revenue of $64.7 million, down 35.4% from the previous year, with a net loss of $27.9 million or $0.61 per share. Despite challenges, including labor issues and lower customer counts, the company saw a 23.1% increase in royalty revenue and an 8.6% rise in system-wide same-store sales. The Franchise segment achieved an adjusted EBITDA of $3.0 million, reflecting significant improvement. CEO Matt Doctor expressed optimism, citing future performance improvements from strategic initiatives.