Amid restructuring, Regis losses deepen in latest quarter
- April 30, 2014 - 9:36 PM
Hair salon firm Regis Corp. lost 15 cents a share in its fiscal third quarter, more than twice as much as the 6-cent loss Wall Street had expected.
The net loss of $9.5 million, or 17 cents per share, compared with a year-ago profit of $2.4 million, or 4 cents a share.
Revenue of $471.6 million, down about 6 percent, exceeded the $468.1 million that Wall Street had been expecting. The financial results were unaudited.
The company’s stock fell 3 cents to $13.14 on Wednesday.
“While our third-quarter results are not acceptable, we began moving into the transition and execution stage of our turnaround,” said CEO Dan Hanrahan. “We are creating a culture of continuous improvement focused on people, process and metrics, enabled by real-time information in order to make sound business decisions.”
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