Regis Reports Third Quarter Revenues Of $574 Million

Regis Corporation (NYSE:RGS), the global leader in the $160 billion hair care industry, today reported consolidated revenues decreased 1.3 percent in the third fiscal quarter of 2012 to $574 million, compared to $581 million a year ago. Third quarter total same-store sales decreased 3.4 percent. Third quarter same-store customer counts decreased 3.0 percent.

“Third quarter same-store sales results came in at the lower end of our expectations. However, we are encouraged by our March same-store sales which were down 1.7 percent versus down 4.3 percent for the first two months of the quarter. The Regis management team is taking aggressive steps to improve the Company’s performance by simplifying our operating model and focusing our business around four distinct consumer segments with differentiated marketing strategies and product offerings. We remain confident and focused on our strategy to improve the salon experience for our customers. Additionally, we continue to be vigilant in controlling costs and increasing operating efficiencies,” said Eric Bakken, EVP, Interim Corporate Chief Operating Officer.

Third Quarter Revenues:

		For the Three Months Ended March 31, 2012
		Salons						Hair Restoration
		North America			International			Centers			Consolidated
(Dollars in thousands)
Revenues:
Service		$	390,201		$	22,771		$	17,364		$	430,336
Product			103,370			9,818			19,735			132,923
Royalties and fees			9,774			-			591			10,365
Total		$	503,345		$	32,589		$	37,690		$	573,624

		For the Three Months Ended March 31, 2011
		Salons						Hair Restoration
		North America			International			Centers			Consolidated
(Dollars in thousands)
Revenues:
Service		$	398,731		$	24,550		$	16,828		$	440,109
Product			101,907			10,985			18,458			131,350
Royalties and fees			9,201			-			607			9,808
Total		$	509,839		$	35,535		$	35,893		$	581,267

Third Quarter Same-Store Sales:For the Three Months Ended March 31,

		2012											2011
		Service			Retail			Total					Service			Retail			Total
Regis Salons		-6.1	%		1.1	%		-4.8	%				-4.4	%		2.9	%		-3.2	%
MasterCuts		-5.8			4.3			-3.9					-5.1			1.6			-3.9
Supercuts		-0.3			2.3			0.0					0.7			-3.2			0.2
Promenade		-2.6			-1.0			-2.5					-3.7			0.2			-3.3
SmartStyle		-6.2			-2.9			-5.1					-1.9			-3.1			-2.3
North America Same-Store Sales		-4.1	%		-0.8	%		-3.5	%				-2.9	%		-1.1	%		-2.6	%
International Same-Store Sales		-9.3	%		-12.7	%		-10.6	%				-3.1	%		0.2	%		-2.0	%
Hair Restoration Same-Store Sales		2.3	%		6.2	%		4.3	%				1.3	%		1.3	%		1.3	%
Consolidated Same-Store Sales		-4.1	%		-0.9	%		-3.4	%				-2.8	%		-0.7	%		-2.3	%

International same-store sales for the quarter represent the 12-week period ended March 3, 2012 versus the 12-week period ended March 5, 2011.

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