-The Company Reaffirms Fiscal First Quarter Guidance of $0.36-
MINNEAPOLIS, MN, September 20, 2001 -- Regis Corporation (Nasdaq:RGIS) the global leader in the $90 billion hair care industry, reported today that its quarter-to-date same-store sales of three percent are on plan. In addition, the Company is seeing improvement in its September same-store sales from last week.
Paul D. Finkelstein, President and Chief Executive Officer commented, "The tragic events of last week will clearly have an impact on our September results; however, we have seen momentum in our same-stores sales for the last few days and are optimistic that this trend should continue, reflecting the predictable, replenishment nature of our business. Through the first two months of the quarter strong same-store sales resulted in earnings that were ahead of plan, therefore we continue to feel comfortable with the consensus earnings estimate of $0.36 per share for our fiscal first quarter ending September 30, 2001."
Regis Corporation, the largest owner, operator, franchisor and acquirer of hair and retail product salons in the world with system-wide sales of $1.9 billion in a $90 billion worldwide market operates and franchises 6,681 salons (4,451 company-owned and 2,230 franchise) in six divisions: Regis Salons, Strip Center Salons (primarily Supercuts and Cost Cutters), MasterCuts, Trade Secret, Wal-Mart/SmartStyle, and International.
Headquartered in Minneapolis, Minnesota, Regis Corporation's common stock is traded on NASDAQ under the symbol RGIS. For more information about the company, visit our website at www,regiscorp.com.
This press release contains "forward-looking statements" within the meaning of the federal securities laws, including statements concerning anticipated future events and expectations that are not historical facts. These forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements in this press release reflect management's best judgement at the time they are made, but all such statements are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those expressed in or implied by the statements herein. Additional information concerning potential factors that could affect future financial results is included in the Company's Form S-3 Registration Statement filed with the Securities and Exchange Commission on March 15, 2001.
Contact: Regis Corporation: Paul D. Finkelstein – President, CEO Randy L. Pearce – Executive Vice President, CFO Kyle P. Didier – Vice President, Finance (952) 947-7000
Morgen-Walke Associates: Investors: Theresa Vogt Contact: Laura Novak (212) 850-5600
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