Regis 3Q Profit Down On Consumer Spending Pullback

Regis, like many hair and beauty operators, has been squeezed as customers scale back on their discretionary spending — which has led some to forgo certain treatments, purchase fewer products or go for hair cuts less frequently.

Revenue results were also weighed down by its European deconsolidation. Regis merged its European business with the Franck Provost Salon Group in January 2008.

The company declined to give fourth-quarter or full-year profit and revenue forecasts, citing the ongoing recession.

Regis owned, franchised, or held ownership interest in 12,854 locations as of March 31.