Regis results miss estimates as fewer people visit its salons
Aug 27 (Reuters) - Regis Corp reported fourth-quarter results that missed market expectations as fewer people visited its hair salons.
The company, which operates the Supercuts chain, posted net income of $675,000, or 1 cent per share, compared with a loss of $63.6 million, or $1.11 per share, a year earlier.
On an adjusted basis, Regis earned 6 cents per share. Analysts on average were expecting a profit of 12 cents per share, according to Thomson Reuters I/B/E/S.
Revenue fell 5 percent to $502.3 million in the quarter ended June 30. Analysts had expected $513.2 million.
Same-store sales declined 3.1 percent.