Full Description

Regis Corporation is engaged in owning, operating and franchising hair and retail product salons. In addition to the primary hair and retail product salons, the Company owns Hair Club for Men and Women, a provider of hair restoration services. As of June 30, 2009, the Company owned, franchised or held ownership interests in over 12,900 worldwide locations. The Company's locations consisted of 10,026 Company-owned and franchise salons, 95 hair restoration centers, and 2,804 locations. The Company's hair restoration centers offer three hair restoration solutions: hair systems, hair transplants and hair therapy. During the fiscal year ended June 30, 2009 (fiscal 2009), the Company constructed 275 new salons and acquired 177 Company-owned salons, including 83 franchise salon buybacks, and closed 313 salons. On February 16, 2009, the Company sold Trade Secret salon concept.

The Company is organized to manage its operations based on significant lines of business: salons and hair restoration centers. The Company's North American salon operations are comprised of 7,537 Company-owned salons and 2,045 franchise salons operating in the United States, Canada and Puerto Rico. Its international operations are comprised of 444 Company-owned salons. The Company's worldwide salon locations operate primarily under the trade names of Regis Salons, MasterCuts, SmartStyle, Supercuts, Cost Cutters, and Sassoon. The Company's hair restoration centers are located in the United States and Canada.

Regis Salons

Regis Salons are primarily mall based, full service salons providing complete hair care and beauty services aimed at moderate to upscale, fashion conscious consumers. The Company has also expanded its Regis Salons into strip centers. As of June 30, 2009, of the 1,071 total Regis salons, 158 Regis Salons were located in strip centers. The customer mix at Regis Salons is approximately 78% women and both appointments and walk-in customers are common. These salons offer a range of custom styling, cutting, hair coloring and waving services, as well as professional hair care products. Included within the Regis Salons concept are various other trade names, including Carlton Hair, Sassoon, Mia & Maxx Hair Studios, Hair by Stewarts and Heidi's.

MasterCuts

MasterCuts is a full service, mall based salon group, which focuses on the walk-in consumer that demands moderately priced hair care services. These salons offer a range of custom styling, cutting, hair coloring and waving services, as well as professional hair care products. The customer mix at MasterCuts is split relatively evenly between men and women.

SmartStyle

The SmartStyle are located in Wal-Mart Supercenters. SmartStyle has a walk-in customer base, pricing is promotional and services are focused on the family. These salons offer a range of custom styling, cutting, hair coloring and waving services, as well as professional hair care products. The customer mix at SmartStyle Salons is approximately 76% women.

Strip Center Salons

The Company's Strip Center Salons are comprised of Company-owned and franchise salons operating in strip centers across North America under the concepts of Supercuts, Cost Cutters, Promenade Salons and Other Franchise Concepts. The Supercuts concept provides hair care services and professional products to its customers at convenient times and locations and at a reasonable price. The Cost Cutters concept is a service salon concept providing value priced hair care services for men, women and children. Promenade Salons are made up of regional Company-owned salon groups acquired over the past several years operating under the primary concepts of Hair Masters, Cool Cuts for Kids, Style America, First Choice Haircutters, Famous Hair, Cost Cutters, BoRics, Magicuts, Holiday Hair and TGF, as well as other concept names. Most concepts offer a range of custom hairstyling, cutting, coloring and waving, as well as hair care products. Hair Masters offers moderately-priced services to a female demographic, while the other concepts primarily cater to time-pressed, value-oriented families. Other Franchise Concepts includes primarily First Choice Haircutters, Magicuts, Beauty Supply Outlets and Pro-Cuts. In addition to these franchise salons, the Company operates Company-owned First Choice Haircutters and Magicuts salons.

International Salons

The Company's international salons are comprised of Company-owned salons operating in the United Kingdom primarily under the Supercuts, Regis and Sassoon concepts. These salons offer similar levels of service as the North American salons. Salons are usually located on high-street locations and offer a range of custom hairstyling, cutting, coloring and waving, as well as professional hair care products.