Regis Corporation’s (RGS) fourth quarter operating earnings of 59 cents per share were ahead of the Zacks Consensus Estimate of 46 cents per share. Earnings also topped the prior-year period results of 55 cents per share. Results reflect the benefits of the cost containment measures taken by the company. ? However, Regis reported a fourth quarter net loss of 11 cents per share as a result of the write-down of its 30% ownership interest in Provalliance, the largest operator and franchisor of hair salons on the European continent. Revenues for the quarter were down 2.5% to $625 million. Consolidated total same-store sales decreased 4.0% and were a negative for the first time in the company’s 87-year history. Consumer behavior has changed in this difficult economic environment. Consumers are
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