Regis Gets a Haircut

Hair salon operator Regis(RGS Quote) said its earnings rose 4.2% in its first quarter, due to tax benefits.

The company earned $23.1 million, or 50 cents a share, in the quarter, compared with $22.2 million, or 48 cents a share, a year ago. Analysts polled by Thomson First Call were expecting earnings of 47 cents a share in the most recent quarter.

First-quarter revenue rose 9.4% to $639.2 million as against analysts' expectation of $632.5 million. Same-store sales, or sales at stores open at least a year, decreased 0.3%. ...