Regis to Issue Fourth Quarter Results on August 28, 2015
August 18 2015 - 6:39PM
Business Wire
Regis Corporation (NYSE:RGS), a leader in the haircare industry,
whose primary business is owning, operating and franchising hair
salons, announced today its earnings release and conference call
for the fourth fiscal quarter ended June 30, 2015, has been
rescheduled from Thursday, August 20, 2015 to Friday, August 28,
2015. Following the release, the Company will host a presentation
via webcast for investors beginning at 9:00 a.m. Central time to
discuss current corporate developments and financial results.
The Company stated the date change is due to finalizing its
accounting for the non-cash impacts of deferred rent. In connection
with this work, the Company identified an understatement of its
deferred rent liability of approximately $5.5 million, and is
revising its financial statements accordingly. The Company does not
expect this revision to have a material impact on earnings in any
fiscal year from 2011 through 2015. As a result of this revision,
rent expense will increase approximately $0.1 million in Fiscal
2015, $0.2 million in Fiscal 2014 and $0.5 million in Fiscal 2013.
This compares to total rent expense of approximately $309 million
in Fiscal 2015 and previously reported rent expense of $322.1
million in Fiscal 2014 and $324.7 million in Fiscal 2013.
Additionally, the Company stated approximately $4.5 million of the
total deferred rent adjustment related to periods from Fiscal 2010
and prior.
To participate in the live webcast, interested parties can log
in to www.regiscorp.com, or participate via telephone by dialing
(800) 967-7134 and entering access code 9656366. A replay of the
presentation will be available later that day. The replay of the
webcast will be available at www.regiscorp.com, or listen to the
audio replay call by dialing (888) 203-1112 and entering access
code 9656366.
About Regis CorporationRegis Corporation (NYSE:RGS) is a
leader in beauty salons and cosmetology education. As of March 31,
2015, the Company owned, franchised or held ownership interests in
9,567 worldwide locations. Regis’ corporate and franchised
locations operate under concepts such as Supercuts, SmartStyle,
MasterCuts, Regis Salons, Sassoon Salon, Cost Cutters and First
Choice Haircutters. Regis maintains ownership interests in Empire
Education Group in the U.S. and the MY Style concepts in Japan. For
additional information about the Company, including a
reconciliation of certain non-GAAP financial information and
certain supplemental financial information, please visit the
Investor Information section of the corporate website at
www.regiscorp.com. To join Regis Corporation’s email alert list,
click on this link:
http://www.b2i.us/irpass.asp?BzID=913&to=ea&Nav=1&S=0&L=1
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version on businesswire.com: http://www.businesswire.com/news/home/20150818006639/en/
Regis CorporationMark Fosland, 952-806-1707SVP, Finance and
Investor Relations
Regis (NYSE:RGS)
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