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Jun 30, 2020
Regis Q4 2020 Earnings Report
Operating results were materially impacted by the COVID-19 pandemic, the credit facility was successfully amended, and significant progress was announced in the transition to a franchise model.
Key Takeaways
Regis Corporation reported a fourth quarter 2020 net loss from continuing operations of $73.7 million, or $2.04 loss per diluted share, significantly impacted by government-mandated temporary salon closures and including a non-cash long-lived asset impairment charge of $22.6 million.
Successfully amended its revolving credit facility establishing covenant-light terms expected to provide the long-term flexibility needed to complete transformational strategy and navigate uncertainties caused by the pandemic
Approximately 76% of the Company Salon Portfolio Has Been Franchised Versus 56% At The End Of Fiscal Year 2019
Successfully Sold And Converted An Additional 112 Company-Owned Salons To Its Asset-Light Franchise Portfolio During The Quarter
The Company Expects To Complete Its Transition To A Fully-Franchised Model No Later Than The End Of Fiscal Year 2021
Revenue by Segment
Forward Guidance
The Company expects that the economic uncertainty created by the COVID-19 pandemic may further impact the number of salons to be sold, the pace of sales to franchisees and the proceeds from the sales. The Company is still committed to converting to a fully-franchised capital-light business.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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