Regis Corp Stock Price, News & Analysis

Regis Corporation (NYSE: RGS) announced an amendment to its credit agreement, extending the maturity date from March 23, 2023 to August 31, 2025. The revised terms include a $180 million term loan and a $55 million revolving credit facility, with a reduced minimum liquidity covenant of $10 million. The CFO expressed optimism about these changes, indicating they provide liquidity for strategic investments. This amendment, alongside the sale of its salon management system, positions Regis to focus on its core business.

Regis Corporation (NYSE: RGS) announced the successful sale of Opensalon® Pro (OSP) to Zenoti, a leading technology provider for the beauty sector. This strategic move positions Zenoti as the exclusive salon technology platform for all Regis brands, enhancing digital engagement across their salons. Regis, which has nearly 5,700 locations worldwide, will start transitioning to Zenoti's platform in July. This collaboration aims to modernize customer interactions for Regis' three million monthly salon clients.

Regis Corporation (NYSE: RGS) has received a notice from the NYSE indicating that it does not meet continued listing standards. As of June 10, 2022, Regis’ 30-day average closing stock price was $0.89, below the $1.00 requirement, and its market capitalization was $40.7 million, below the $50 million threshold. Regis has six months to regain compliance with the share price and will submit a plan within 45 days regarding market capitalization. The notice does not impact business operations or reporting obligations.

Zenoti has partnered with Regis Corporation (NYSE:RGS), a haircare industry leader, to provide its technology platform to over 5,000 salon locations including Supercuts and SmartStyle. This collaboration aims to deliver a modern digital experience for more than three million salon guests monthly. Zenoti will also acquire Regis’ Opensalon Pro software and onboard all franchisees to its platform. Company's CEO Matthew Doctor stated the partnership is a strategic move to enhance operations and growth through improved data and marketing capabilities.

Regis Corporation (NYSE: RGS) has entered into an agreement to sell its Opensalon Pro salon management system to Zenoti, a recognized leader in beauty technology. This transaction, expected to close by the end of June 2022, will transition Regis to a sole salon technology platform under Zenoti. Regis anticipates receiving up to $39 million, enhancing its financial position while allowing focus on core haircare services. The partnership aims to enhance franchisee and customer experiences through improved operations and marketing capabilities.

Regis Corporation (NYSE: RGS) reported a third quarter revenue of $64.7 million, down 35.4% from the previous year, with a net loss of $27.9 million or $0.61 per share. Despite challenges, including labor issues and lower customer counts, the company saw a 23.1% increase in royalty revenue and an 8.6% rise in system-wide same-store sales. The Franchise segment achieved an adjusted EBITDA of $3.0 million, reflecting significant improvement. CEO Matt Doctor expressed optimism, citing future performance improvements from strategic initiatives.

Regis Corporation (NYSE: RGS) has appointed Matthew Doctor as its new President and CEO, effective immediately. Doctor has been the Interim CEO since December 2021 and has extensive experience in the industry, including his role as Executive VP and Chief Strategy Officer. The board expressed confidence in his leadership, noting his ability to stabilize the organization and engage with franchisees. Doctor aims to unlock the company's potential and lead the recovery following the pandemic. As of December 31, 2021, Regis operated 5,779 locations worldwide.

Regis Corporation (NYSE:RGS) will release its financial results for Q3 2022 on May 10, 2022, before market opening. The company operates a network of 5,779 salons worldwide under brands like Supercuts and SmartStyle. Following the release, a webcast presentation for investors will take place at 9:00 a.m. Central time to discuss financial results and corporate updates. Interested participants must register through the company's investor relations website.

Regis Corporation (NYSE:RGS), a leader in the haircare industry, announces the appointment of Andra Terrell as Senior Vice President, General Counsel, and the promotion of Jamie Suarez to Senior Vice President, Merchandising & Education. Terrell brings over 25 years of franchise law experience, enhancing Regis's franchise relations. Suarez, a 25-year veteran at Regis, will continue his focus on technical education and partnerships. Both executives are expected to drive growth and strengthen relationships with franchisees.