NEW YORK (TheStreet) -- Shares of Regis (RGS) are lower by -5.15% to $13.99 in early afternoon trading on Tuesday after the company posted a net loss for the 2014 fourth quarter of -$17 million, or -30 cents per diluted share, compared to a net income of $0.7 million, or a penny per diluted share, in the year-ago period.
The hair salon operator and franchisor said sales for the most recent quarter declined to $483.9 million from $502.3 million for the 2013 fourth quarter.
"We still have too wide a range in performance across our salon base. A significant number of salons have yet to see traction and continue to comp negatively. Additionally, during the fourth quarter our same store retail sales were down 8.4%. I am cautiously encouraged by early signs of improvement, however, all of us at Regis understand how much work we still have to do," said CEO Dan Hanrahan in a statement.
Separately, TheStreet Ratings team rates REGIS CORP/MN as a "sell" with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:
"We rate REGIS CORP/MN (RGS) a SELL. This is driven by multiple weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, poor profit margins, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share."