Regis cuts 290 jobs as part of transition to franchise model [MarketWatch]
Regis Corporation (RGS)
Last regis corporation earnings: 2/3 05:27 pm
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Source: MarketWatch
Regis cuts 290 jobs as part of transition to franchise model Hair salon operator Regis Corp. RGS, +1.76% said it cut 290 jobs across the U.S. and Canada as part of a restructuring aimed at cutting costs as it transitions to a fully franchised business model. The job cuts, which are in administrative positions that supported company owned and operated stores, is expected to lower expenses by about $18.7 million a year. Regis had 20,000 employees as of June 2019, 17,000 of which were in the U.S. "We are pleased that we are at a point in our transformation where we can continue efforts underway to re-engineer our cost structure," said Chief Executive Hugh Sawyer. "Although this phase of our transformation is certainly difficult, it is necessary in order to properly allocate capital and human resources to support investments in our rapidly growing franchise business." The stock, which was still inactive in the premarket, has declined 11.6% over the past 12 months while the S&P 500 SPX
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News
- Regis Corporation Acquires Alline Salon Group Adding $83M Revenue and $5.8M EBITDA [Yahoo! Finance]Yahoo! Finance
- Regis Corporation Acquires Alline Salon Group Adding $83M Revenue and $5.8M EBITDABusiness Wire
- Supercuts® Joins Forces with Military Makeover with Montel to Honor Deserving VeteranPR Newswire
- Trends and Growth Opportunities in the Salon Industry, 2025-2030: An Assessment of Worldwide Markets by Type of Salon, Age Group and Country [Yahoo! Finance]Yahoo! Finance
- Regis Co. (NYSE: RGS) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating.MarketBeat
RGS
Earnings
- 1/31/24 - Beat
RGS
Sec Filings
- 12/19/24 - Form 8-K
- 11/26/24 - Form 4
- 11/26/24 - Form 4
- RGS's page on the SEC website