Regis Corp. says the economy continues to negatively affect “customer visitation patterns.” In English, I’m pretty sure that means people are going longer between haircuts.
The Edina-based hair-care company today let investors know how they did during the last part of summer. Sales for the three months ending Sept. 30 were down 1.3 percent, it reported.
The company was profitable, earning 14 cents per share. That figure is about half what it would have been without an early debt repayment and costs associated with closing stores in the U.K., the company said.
CEO Paul Finkelstein said the company’s strategy is to focus on “value-based concepts” to appeal to frugal consumers. He said he’s bullish about the long-term prospects for Regis Corp.
“Our first quarter results demonstrate the strength of our business model. We are in the quintessential replenishment business offering an affordable necessity, and even in these tough economic times our operations are extremely profitable,” Finkelstein said.