Regis Reveals Flat Quarterly Sales
Regis (NYSE:RGS) reported on Friday virtually flat fourth-quarter sales from the year-earlier period as fewer customer visits took a bite out of same-store sales.
The hair salon operator booked sales of $592 million, up 0.3% from $590 million a year ago, beating average analyst estimates polled by Thomson Reuters of $586.59 million.
Sales at stores open more than a year slipped 1.7% during the quarter, while customer visit fell 2.5%.
Despite disappointing traffic, the companys chief executive, Randy Pearce, said Regis predicts it will see sequential improvement in customer visitation trends as it heads into the next fiscal year.
We remain laser focused on executing our strategies, which center on increasing customer visits and improving profitability, Pearce said.