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SMALL BUSINESS
Hair-care company Regis sales down 2 percent
AP ONLINE
posted: 51 DAYS 22 HOURS AGO
MINNEAPOLIS (AP) — Hair-care company Regis Corp. said Thursday its fiscal first-quarter sales fell 2 percent, but results beat analyst expectations.
Sales fell to $603 million, while analysts polled by Thomson Reuters, on average, predicted revenue of $599.3 million.
Sales in stores open at least one year, a key measure of a retailer's financial health, fell 4.5 percent.
"We continue to expect that customer visitation patterns will stabilize and, as a result, we should see improvement in our same-store sales beginning in the later half of our second quarter," said CEO Paul Finkelstein in a statement.
The company will report results on Oct. 29.
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