Regis Corporation (RGS) has reported a net loss from its ongoing operations, amounting to $1.0 million, or $0.43 per share, for the second quarter. This represents a decrease from the previous year's $2.5 million net loss, or $1.10 per share, from their ongoing operations.
During the same quarter, the total consolidated revenue was at $51.1 million, notably lower than the $60.0 million revenue gathered last year. The company attributes the decline largely to a decrease in non-margin franchise rental income and the closing of financially damaging company-owned salons that previously generated significant revenue. However, system-wide same-store sales saw an improvement with a 1.9% increase during the quarter.
