Welcome to our dedicated page for Regis Corporation news (Ticker: RGS), a resource for investors and traders seeking the latest updates and insights on Regis Corporation stock.
Regis Corporation (NYSE: RGS), headquartered in Minneapolis, Minnesota, is a leading company in the beauty salon and cosmetology education industry. With a presence in nearly 10,000 locations worldwide, Regis operates through a mix of company-owned, franchised, and partnership models. Some of its well-known brands include Supercuts, SmartStyle, MasterCuts, Regis Salons, Sassoon Salon, Cost Cutters, and First Choice Haircutters.
Regis Corporation's primary business involves providing a range of salon services such as haircutting, styling, and hair coloring. Its operations are largely focused in North America and the United Kingdom, with many of its outlets situated in strip malls, shopping centers, and Wal-Mart stores. The company caters to a price-conscious market, which forms the bulk of its revenue. A smaller but significant portion of its income is derived from the sale of salon products.
Beyond its extensive salon network, Regis holds ownership interests in Empire Education Group in the United States and My Style concepts in Japan. These ventures underline the company's commitment to expanding its influence in the beauty and cosmetology education sectors.
Regis Corporation has continually invested in enhancing its service offerings and operational efficiency. Recent achievements include strategic partnerships and the introduction of innovative hair care products. Financially, the company remains focused on steady growth and maintaining its market leadership.
For those looking to stay updated on Regis Corporation's latest developments, StockTitan provides the most current news, financial data, and insights into the company's performance and strategic initiatives.
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.
Regis Corporation (NYSE: RGS) has appointed Matthew Doctor as its new President and CEO, effective immediately. Doctor has been the Interim CEO since December 2021 and has extensive experience in the industry, including his role as Executive VP and Chief Strategy Officer. The board expressed confidence in his leadership, noting his ability to stabilize the organization and engage with franchisees. Doctor aims to unlock the company's potential and lead the recovery following the pandemic. As of December 31, 2021, Regis operated 5,779 locations worldwide.
Regis Corporation (NYSE:RGS) will release its financial results for Q3 2022 on May 10, 2022, before market opening. The company operates a network of 5,779 salons worldwide under brands like Supercuts and SmartStyle. Following the release, a webcast presentation for investors will take place at 9:00 a.m. Central time to discuss financial results and corporate updates. Interested participants must register through the company's investor relations website.
Regis Corporation (NYSE:RGS), a leader in the haircare industry, announces the appointment of Andra Terrell as Senior Vice President, General Counsel, and the promotion of Jamie Suarez to Senior Vice President, Merchandising & Education. Terrell brings over 25 years of franchise law experience, enhancing Regis's franchise relations. Suarez, a 25-year veteran at Regis, will continue his focus on technical education and partnerships. Both executives are expected to drive growth and strengthen relationships with franchisees.
Regis Corporation (NYSE: RGS) reported a second fiscal quarter net loss of $4.9 million, or $0.11 per diluted share, an improvement from a net loss of $32.9 million, or $0.92 last year. Total revenue fell to $70.3 million, down 32.7% year-over-year, primarily due to exiting loss-making company-owned salons. Despite this, system-wide same-store sales grew by 22.1%. Adjusted EBITDA was $2.4 million, up significantly from a loss of $17.5 million in the previous year. Regis anticipates continued improvement in performance as it shifts to a fully franchised model.
Regis Corporation (NYSE:RGS), a leader in the haircare industry, will announce its financial results for Q2 ending December 31, 2021, on February 3, 2022, before market opening. Following the announcement, the company will hold a webcast for investors starting at 9:00 a.m. Central time to discuss corporate developments and financial results. As of September 30, 2021, Regis operated or franchised 5,843 locations globally under brands like Supercuts and SmartStyle.
Regis Corporation (NYSE:RGS) announces the appointment of Matthew Doctor as Interim CEO following the resignation of Felipe Athayde, effective December 23, 2021. Athayde will remain an employee until March 19, 2022. Doctor, who joined the company in February 2021, previously served as Chief Financial Officer at Kava Restaurants and brings extensive franchise experience. The Board expressed confidence in Doctor's leadership capabilities to drive business objectives. Other key appointments include Jim Lain as COO and Michael Ferranti as Chief People Officer.
Regis Corporation (NYSE:RGS) has appointed David J. Grissen as the new Chairman of the Board, following the resignation of Daniel G. Beltzman effective November 14, 2021. Grissen, with over 30 years of experience at Marriott International, aims to leverage his franchise expertise to guide Regis in its transformation to a fully-franchised business model. As of September 30, 2021, Regis operated 5,843 locations worldwide, including brands like Supercuts and SmartStyle.
Regis Corporation (NYSE: RGS) reported a Q1 2022 net loss of $10.4 million, or $0.28 per diluted share, an improvement from a $35.3 million loss in Q1 2021. System-wide same-store sales increased by 23.2% year-over-year. Total revenue fell by 30.2% to $77.8 million, mainly due to exiting underperforming company-owned salons. Adjusted EBITDA loss was reduced to $5.6 million from $18.6 million. The company raised $37 million in liquidity and reduced annual G&A expenses by approximately $5 million, focusing on supporting franchisee recruitment efforts.
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