Regis Posts Record Revenue On Same-Store Sales Jump
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Edina, Minnesota-Regis Corp. credited strongsame-store sales for record revenue and higher earnings during thefirst quarter of its financial 2004, rising 15.4 percent to arecord $460.7 million, compared to $399.2 million during the firstquarter of fiscal 2003. Sales in stores open longer than a yearrose 2.6 percent during the quarter ended September 30, compared toa 1.4 percent increase during the same period last year.
Regis opened 94 new hair-care salons in the first fiscal quarterand acquired 97 (95 of which were franchise buybacks). Franchiseesopened an additional 73 salons, while a total of 79 corporate andfranchised salons were moved or closed during the quarter. At theend of the quarter, Regis owned, operated or franchised 9,707salons worldwide, compared to 9,138 salons at the end of the firstquarter last year. -The Business Journal (Minneapolis/St.Paul)
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