Regis Corporation, the global leader in the $150 billion hair care industry reported that consolidated revenues increased 8.4 percent in the third fiscal quarter of 2007 to a record $655 million, compared to $604 million a year ago. Third quarter same-store sales were flat at 0.0 percent, in line with the company's previously issued guidance range.
"January was a difficult month due to weather issues. However, we are particularly encouraged by our North American same-store service sales increases in February and March which grew by 1.5 percent and 3.5 percent respectively, and we expect our third quarter retail product margin rate to show significant improvement compared to last year," commented Paul D. Finkelstein, Chairman and Chief Executive Officer.
International same-store sales for the quarter represent the 12-week period ended March 3, 2007 versus the 12-week period ended March 4, 2006. The company began including Hair Restoration Centers in its same-store sales calculation beginning with the third fiscal quarter of 2007.
Regis Corporation will announce third quarter 2007 earnings results on April 25, 2007. A conference call discussing third quarter results will follow at 10:00 a.m., Central Time. Interested parties are invited to listen by logging on to company's website.
Regis Corporation is the beauty industry's global leader in salons, hair restoration centers and education. As of December 31, 2006, the Company owned or franchised 11,713 worldwide locations; which included 11,570 beauty salons, 88 hair restoration centers and 55 beauty schools operating under concepts such as Supercuts, Jean Louis David, Vidal Sassoon, Regis Salons, MasterCuts, Trade Secret, SmartStyle, Cost Cutters and Hair Club for Men and Women. These and other concepts are located in the US and in ten other countries throughout North America and Europe.
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