Consumer cut backs hit Regis

Published: 12-Jan-2009

Hair care giant Regis Corporation today reported a 4% decrease in revenue in the second fiscal quarter of 2009. The global leader in beauty salons, whose corporate and franchised concepts include Supercuts, Sassoon Salon and MasterCuts, posted second quarter results of $655m, as opposed to $682m in the same period of 2008.


Hair care giant Regis Corporation today reported a 4% decrease in revenue in the second fiscal quarter of 2009. The global leader in beauty salons, whose corporate and franchised concepts include Supercuts, Sassoon Salon and MasterCuts, posted second quarter results of $655m, as opposed to $682m in the same period of 2008.

According to Regis, low levels of customer spending and the deconsolidation of its European franchise salon operations were to blame for reduced revenue. “Customer cutbacks have impacted our service business more than we had expected, especially in the month of December,” explained Regis chairman and ceo Paul D Finkelstein. “It is impossible to predict how long these current unprecedented conditions will last.”

The company plans to reduce debt levels by reducing expenses, minimising capital and acquisition expenditures and more effectively managing its working capital.

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