Regis Corp - RGS STOCK NEWS

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.

Regis Corporation (NYSE:RGS) will release its financial results for the first fiscal quarter ending September 30, 2021, before market open on November 4, 2021. A webcast presentation for investors will follow at 9:00 a.m. Central time, discussing corporate developments and financial results. As of June 30, 2021, Regis operated 5,917 locations worldwide under brands including Supercuts® and SmartStyle®. For further details, visit the investor relations page.

Regis Corporation (NYSE:RGS) announces John Davi as the new Chief Technology Officer, aiming to enhance its Opensalon ecosystem. With over 20 years in technology, Davi has previously worked with BriteCore and MINDBODY, and has experience in artificial intelligence and media solutions. His expertise is expected to drive technology development and improve franchisee support. Regis operates the world's largest franchise network of hair salons, with 5,917 locations globally as of June 30, 2021.

Regis Corporation (NYSE:RGS) has appointed Lockie Andrews to its Board of Directors, effective September 10, 2021. Ms. Andrews is the Head of eCommerce and Digital Operations at Party City (NYSE: PRTY), where she manages digital sales and marketing initiatives. Her expertise spans strategy, innovation, and operational improvement, making her a valuable asset to Regis as it focuses on technology-driven growth. Andrews aims to enhance Regis's business potential through data analytics, particularly leveraging the Opensalon® Pro platform.

Regis Corporation (NYSE: RGS) has completed its shift to a fully-franchised model, closing 1,356 company-owned salons during the fiscal year. In Q4 2021, system-wide same-store sales rose 4.2% compared to the previous year, marking a positive trend post-COVID-19. Although fourth-quarter revenue increased to $99.1 million, a significant improvement year-over-year, the company reported a net loss from continuing operations of $34.3 million. Adjusted EBITDA loss decreased to $23.2 million, showcasing financial improvement amidst challenges posed by the pandemic.

Regis Corporation (NYSE:RGS), a leader in the haircare industry, will release its financial results for Q4 ended June 30, 2021, on August 26, 2021, before market opens. A presentation for investors will follow at 9:00 a.m. Central time, discussing corporate developments and financials. As of March 31, 2021, Regis operated or franchised over 6,200 locations globally under brands like Supercuts and SmartStyle. For more information, visit www.regiscorp.com.

Regis Corporation (NYSE:RGS) has announced a strategic move to outsource its product distribution to Beauty Systems Group and SalonCentric Inc. This initiative supports an asset-light, fully franchised model aimed at enhancing service offerings for franchisees. The new distributors will provide competitive pricing, promotional advantages, and educational resources to help grow franchisee businesses. The partnership will enable faster product access through over 1,800 store locations across North America, exclusively distributing Regis' private label brands.

Regis Corporation (NYSE:RGS) has appointed Michael Mansbach to its Board of Directors, effective June 14, 2021. Mansbach, a technology industry veteran, was previously the president of MINDBODY, Inc. and has held senior roles at Blue Jeans Network and Citrix. CEO Felipe Athayde expressed confidence in Mansbach's ability to enhance Regis' digital transformation and improve customer connections. Regis operates over 6,200 salon locations globally, maintaining brands like Supercuts and SmartStyle, and continues to focus on leveraging technology to enhance guest experiences.