Earnings and Financial Performance - The company generated franchise revenue in line with projections, and Adjusted EBITDA was approximately $1 million higher than expected [1] Analyst's Position and Background - The analyst has over 20 years of experience in stressed and distressed investing across private and public markets, and was previously a partner at a multi-billion dollar hedge fund [1] - The analyst is close to a 5% holder of the company's shares and was previously an activist investor who filed a 13D [3] Disclosure and Relationship - The analyst has a beneficial long position in the company's shares through stock ownership, options, or other derivatives [2] - The analyst has no business relationship with any company whose stock is mentioned in the article [2]

Financial Data and Key Metrics Changes - Total first quarter revenues were $46.1 million, a decline of $7.3 million from the prior year, primarily due to a reduction in franchise rental income and advertising fund revenue [30] - Same-store sales in Q1 decreased by 1.1% compared to the prior year's quarter [5][31] - Adjusted EBITDA for the quarter was $7.6 million, down from $8.1 million a year ago, with adjusted EBITDA margins expanding by two percentage points to 40% [5][37] - Adjusted earnings per share for the quarter was $0.93, compared to $0.71 in the prior year, while reported GAAP earnings per share was a loss of $0.36, down from earnings of $0.51 in the prior year [6] Business Line Data and Key Metrics Changes - Core franchise business achieved adjusted EBITDA of $8 million, a decrease of $600,000 compared to the prior year [39] - Company-owned segment reported a loss of $300,000 for the quarter, an improvement of $200,000 from the same quarter last year [39] Market Data and Key Metrics Changes - The company closed a net 41 franchise locations and eight company-owned locations in the first quarter [31] - The average trailing 12-month sales volume of closed franchise locations was $140,000, compared to a top quartile salon average of $460,000, indicating significant performance gaps [31] Company Strategy and Development Direction - The company is focused on increasing operational rigor and optimizing its digital platform to drive traffic back to salons and improve franchisee sales and profitability [9][18] - A brand excellence standards initiative has been launched to enhance the guest experience across salons, with a focus on uniformity in service and salon upkeep [10][12] - The company is implementing a loyalty program and has completed the rollout of the Zenoti point-of-sale system to enhance digital engagement with guests [19][24] Management's Comments on Operating Environment and Future Outlook - Management believes the current initiatives are critical for long-term success and is optimistic about the potential for adjusted EBITDA growth in fiscal 2025 despite ongoing challenges [29] - The company anticipates that the pace of salon closures will slow in the coming years, with 2025 expected to be the last year of significant closures [33] Other Important Information - The company reported a GAAP operating income of $2.1 million in the first quarter, down from $7.4 million in the prior year, driven by lower core business revenue and increased G&A expenses [34] - As of September 30, the company had $21.9 million of available liquidity, including $15.7 million of revolver capacity and $6.3 million of cash [42] Q&A Session Summary - No specific questions or answers were provided in the transcript regarding the Q&A session [45]

Financial Performance - Consolidated revenue for Q1 fiscal 2025 was $46.1 million, a decrease of $7.3 million or 13.7% compared to $53.4 million in Q1 fiscal 2024[2] - Net loss for Q1 fiscal 2025 was $0.9 million, or a loss of $0.36 per diluted share, compared to a net income of $1.2 million, or $0.51 per diluted share in the same period last year[7] - Adjusted net income for Q1 fiscal 2025 was $2.6 million, an increase of $0.9 million or 52.9% from $1.7 million in the prior year[2] - Adjusted EBITDA for Q1 fiscal 2025 was $7.6 million, a decline of $0.5 million or 6.2% from $8.1 million in Q1 fiscal 2024[8] - Operating income for the three months ended September 30, 2024, was $2,134,000, down from $7,434,000 in the prior year, representing a decline of 71.3%[21] - Reported net loss for the three months ended September 30, 2024, was $(853) thousand, compared to a net income of $1,194 thousand for the same period in 2023[30] Sales and Revenue Trends - Same-store sales decreased by 1.1% year-over-year, compared to an increase of 1.8% in the prior year[3] - System-wide same-store sales decreased by 1.1% for the three months ended September 30, 2024, compared to an increase of 2.4% in the same period of the previous year[23] - Franchise revenue decreased by $6.1 million, or 11.9%, to $45.3 million in Q1 fiscal 2025 compared to $51.4 million in the prior year[10] - GAAP franchise revenue for the three months ended September 30, 2024, was $45,275 thousand, down from $51,436 thousand in the same period of 2023[35] - Adjusted franchise revenue for the three months ended September 30, 2024, was $17,998 thousand, compared to $19,543 thousand in the prior year[35] Salon Operations - Company-owned salon revenue declined by $1.1 million to $0.8 million, driven by the closure of 47 loss-generating salons[13] - Total franchise salons decreased to 4,350 from 4,745, a reduction of 395 salons year-over-year[9] - The number of total franchise salons decreased to 4,350 as of September 30, 2024, from 4,391 as of June 30, 2024, a decrease of 0.9%[24] - The company-owned salons decreased to 9 as of September 30, 2024, down from 17 as of June 30, 2024, a reduction of 47.1%[24] Cash and Liabilities - The company ended Q1 fiscal 2025 with $6.3 million in cash and cash equivalents and $110.4 million in outstanding borrowings[15] - Total current assets decreased to $35,426,000 as of September 30, 2024, down from $42,050,000 as of June 30, 2024, reflecting a decline of 15.7%[20] - Total liabilities decreased to $452,533,000 as of September 30, 2024, from $473,709,000 as of June 30, 2024, a reduction of 4.5%[20] - Cash and cash equivalents decreased to $6,259,000 as of September 30, 2024, down from $10,066,000 as of June 30, 2024, a decline of 37.7%[20] Adjusted Metrics - Adjusted EBITDA margin improved to 40% in Q1 fiscal 2025 from 38% in the prior year, reflecting better cost management[2] - Adjusted EBITDA for the three months ended September 30, 2024, was $7,636 thousand, down from $8,093 thousand in the prior year[30] - Adjusted net income for the three months ended September 30, 2024, was $2,591 thousand, compared to $1,679 thousand for the same period in 2023[32] - Adjusted earnings per share for the three months ended September 30, 2024, was $0.93, an increase from $0.71 in the prior year[33] - Franchise adjusted EBITDA as a percent of adjusted franchise revenue was 44.4% for the three months ended September 30, 2024, compared to 44.0% in the prior year[35] Other Financial Details - Stock-based compensation expense included in adjusted EBITDA was $1,430 thousand for the three months ended September 30, 2024, up from $630 thousand in the prior year[30] - Discrete items impacting adjusted EBITDA included one-time professional fees and legal settlements, totaling $2,597 thousand for the three months ended September 30, 2024[30] - The company plans to exclude stock-based compensation expenses from adjusted EBITDA calculations starting in fiscal year 2025, retroactively applied to prior periods[30]

Company Operations - As of September 30, 2024, Regis Corporation operated 4,359 locations, including 4,350 franchised salons and 9 company-owned salons[78]. Financial Performance - System-wide revenue for the three months ended September 30, 2024, was $285.6 million, a decrease of 6.5% from $306.6 million in the same period of 2023[84]. - Total system-wide same-store sales decreased by 1.1% for the three months ended September 30, 2024, compared to an increase of 1.8% in the same period of 2023[84]. - Royalties decreased by $0.9 million, or 5.5%, primarily due to a decrease in franchise salon count and negative same-store sales[89]. - Franchise revenue decreased by $6.1 million to $45.3 million for the three months ended September 30, 2024, compared to $51.4 million in the same period of 2023[102]. - Franchise same-store sales declined by 1.2% for the three months ended September 30, 2024, compared to an increase of 1.7% in the prior year[102]. - Franchise adjusted EBITDA totaled $8.0 million, a decrease of $0.6 million from $8.6 million in the same period of 2023[103]. - Company-owned salon revenue decreased by $1.1 million, or 59.5%, due to a reduction in company-owned salon count[91]. - Company-owned salon revenue decreased by $1.1 million to $1.9 million for the three months ended September 30, 2024, primarily due to a decrease in salon count[106]. Expenses and Costs - General and administrative expenses increased by $3.3 million, or 30.8%, primarily due to severance costs of $2.3 million and stock-based compensation[92]. - Interest expense decreased by $1.4 million, primarily due to less debt outstanding compared to the same period in 2023[95]. Cash and Debt Management - As of September 30, 2024, cash and cash equivalents were $6.3 million, with $5.4 million in the United States and $0.9 million in Canada[110]. - The company's total debt to capitalization ratio was 66.2% as of September 30, 2024, down from 67.0% in June 2024[119]. - Cash used in operating activities improved to $1.3 million for the three months ended September 30, 2024, compared to $2.8 million in the same period of 2023[116]. - The company has a $25.0 million revolving credit facility that matures in June 2029, with $15.7 million of unused available credit as of September 30, 2024[111]. Tax and Income - The effective tax rate for the three months ended September 30, 2024, was 11.1%, compared to (14.1)% in the same period of 2023[97]. - Income from discontinued operations increased by $1.0 million, primarily due to proceeds from the sale of OSP related to salons migrating to the Zenoti platform[98]. Future Expectations - The company expects additional proceeds of approximately $7.0 to $7.5 million from the sale of its OSP software-as-a-service solution in fiscal year 2025[112]. - No shares were repurchased during the three months ended September 30, 2024, with approximately 1.5 million shares repurchased cumulatively for $595.4 million[121].

AngloGold Ashanti plc (AU) and its Tropicana joint venture partner Regis have authorized the Havana underground project in Western Australia. This move is set to increase gold production at the Tropicana mine and extend its life. AngloGold Puts Efforts to Boost Production at Tropicana The Havana underground project is planned to enhance gold output between 2027 and 2029 beyond the Tropicana mine's existing production levels. Tropicana's gold production will be increased by three separate, underground source ...

Jetta Productions Inc/DigitalVision via Getty Images Author's Update On August 8th, 2024, I wrote a report discussing the reasoning behind the incredible shareholder friendly refinancing where banks transferred $34 per share of value to shareholders, and projected FY 2025 EBITDA of $30MM linked here. In this report, I will discuss the most recent 4th quarter 2024 results, provide historical context on the company's declining store base, and provide reasoning as to why revenue growth should turn positive in ...

Regis Corporation (NASDAQ:RGS) Q4 2024 Earnings Conference Call August 28, 2024 8:30 AM ET Company Participants Kersten Zupfer - Executive Vice President, Chief Financial Officer Matthew Doctor - President and Chief Executive Officer Conference Call Participants Kersten Zupfer Good morning, and thank you for joining the Regis Fourth Quarter and Full-Year 2024 Earnings Conference Call. I am your host, Kersten Zupfer, Executive Vice President and Chief Financial Officer. I am joined today by our President and ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-12725 Regis Corporation (Exact name of registrant as specified in its charter) Minnesota (State or other jurisdiction of incorporation or o ...

This highly anticipated milestone opening underscores the company's industry-leading luxury portfolio and continued strong global growth BETHESDA, Md., Aug. 16, 2024 /PRNewswire/ -- Marriott International, Inc. (NASDAQ: MAR) announced its 9,000th property with the opening of The St. Regis Longboat Key Resort. Situated on an expansive 18 acres in Longboat Key, Florida, this luxury beachfront property features 168 exquisite guestrooms, including 26 suites, and offers breathtaking ocean views, outstanding culi ...

Comstock/Stockbyte via Getty Images Company Overview Regis Corporation (NASDAQ:RGS) "the company" is one of the largest hair salons in the country with approximately 4,500 salons. The company's salons operate in the value segment of the market under the brands Supercuts, SmartStyle, Cost Cutters, First Choice Haircutters, and Roosters Men's Grooming Center. RGS is a small capitalization stock that trades on the NASDAQ exchange. The company's turnaround is in its final stages and now has a capital structure ...