Company Quick10K Filing
Regis
Price20.17 EPS-1
Shares36 P/E-27
MCap731 P/FCF-36
Net Debt9 EBIT-32
TEV741 TEV/EBIT-23
TTM 2019-09-30, in MM, except price, ratios
10-Q 2020-03-31 Filed 2020-06-18
10-Q 2019-12-31 Filed 2020-02-04
10-Q 2019-09-30 Filed 2019-10-29
10-K 2019-06-30 Filed 2019-08-27
10-Q 2019-03-31 Filed 2019-04-30
10-Q 2018-12-31 Filed 2019-01-29
10-Q 2018-09-30 Filed 2018-10-30
10-K 2018-06-30 Filed 2018-08-23
10-Q 2018-03-31 Filed 2018-05-01
10-Q 2017-12-31 Filed 2018-02-01
10-Q 2017-09-30 Filed 2017-10-31
10-K 2017-06-30 Filed 2017-08-23
10-Q 2017-03-31 Filed 2017-05-04
10-Q 2016-12-31 Filed 2017-02-03
10-Q 2016-09-30 Filed 2016-10-27
10-K 2016-06-30 Filed 2016-08-23
10-Q 2016-03-31 Filed 2016-04-28
10-Q 2015-12-31 Filed 2016-01-28
10-Q 2015-09-30 Filed 2015-10-29
10-K 2015-06-30 Filed 2015-08-28
10-Q 2015-03-31 Filed 2015-04-30
10-Q 2014-12-31 Filed 2015-01-29
10-Q 2014-09-30 Filed 2014-11-04
10-K 2014-06-30 Filed 2014-08-26
10-Q 2014-03-31 Filed 2014-04-30
10-Q 2013-12-31 Filed 2014-02-03
10-Q 2013-09-30 Filed 2013-11-05
10-K 2013-06-30 Filed 2013-08-27
10-Q 2013-03-31 Filed 2013-05-07
10-K 2012-06-30 Filed 2012-08-29
10-Q 2012-03-31 Filed 2012-05-10
10-Q 2011-09-30 Filed 2011-11-09
10-K 2011-06-30 Filed 2011-08-26
10-Q 2011-03-31 Filed 2011-05-10
10-Q 2010-12-31 Filed 2011-02-09
10-Q 2010-09-30 Filed 2010-11-09
10-K 2010-06-30 Filed 2010-08-27
10-Q 2010-03-31 Filed 2010-05-10
10-Q 2009-12-31 Filed 2010-02-09
8-K 2020-06-29 Officers, Exhibits
8-K 2020-06-18
8-K 2020-05-15
8-K 2020-05-08
8-K 2020-03-16
8-K 2020-02-03
8-K 2019-12-30
8-K 2019-11-06
8-K 2019-10-29
8-K 2019-10-22
8-K 2019-08-27
8-K 2019-07-03
8-K 2019-04-30
8-K 2019-03-29
8-K 2019-01-29
8-K 2018-10-30
8-K 2018-10-23
8-K 2018-08-30
8-K 2018-08-21
8-K 2018-05-01
8-K 2018-04-24
8-K 2018-03-26
8-K 2018-02-21
8-K 2018-02-01
8-K 2018-01-08

RGS 10Q Quarterly Report

Part I - Financial Information
Item 1. Financial Statements
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 3. Quantitative and Qualitative Disclosures About Market Risk
Item 4. Controls and Procedures
Part II - Other Information
Item 1. Legal Proceedings
Item 1A. Risk Factors
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Item 5. Other Information
Item 6. Exhibits
EX-10.1 exhibit101seniorexecut.htm
EX-31.1 rgs-20200331xex311.htm
EX-31.2 rgs-20200331xex312.htm
EX-32 rgs-20200331xex32.htm

Regis Earnings 2020-03-31

Balance SheetIncome StatementCash Flow
1.61.31.00.60.30.02012201420172020
Assets, Equity
0.60.50.30.20.0-0.12012201420172020
Rev, G Profit, Net Income
0.20.10.0-0.0-0.1-0.22012201420172020
Ops, Inv, Fin

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
 
FORM 10-Q
(Mark One)
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 
 For the quarterly period ended March 31, 2020
OR
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 For the transition period from             to            
Commission file number 1-12725
Regis Corporation
(Exact name of registrant as specified in its charter)
Minnesota41-0749934
(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)
3701 Wayzata BoulevardMinneapolisMinnesota55416
(Address of principal executive offices)(Zip Code)
 (952) 947-7777
(Registrant’s telephone number, including area code) 
N/A
(Former name, former address and former fiscal year, if changed since last report)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes  No 

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to be submit and post such files). Yes  No 
 
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and "emerging growth company" in Rule 12b-2 of the Exchange Act.
Large Accelerated FilerAccelerated filer 

Non-accelerated filer (Do not check if a smaller reporting company)

Smaller Reporting CompanyEmerging Growth Company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Indicate by check mark whether the registrant is a shell company (as defined by Rule 12b-2 of the Act). Yes No   
 
Title of each classTrading symbolName of exchange
Common Stock, $0.05 par valueRGS NYSE
Indicate the number of shares outstanding of each of the issuer’s classes of common stock as of June 12, 2020 : 35,624,174





REGIS CORPORATION
 
INDEX
 
 
    
  
   
  
    
  
    
  
    
  
    
  
    
 
    
 
    
 
    
    
 
    
 
    
 
    
 
    
  

2


PART I - FINANCIAL INFORMATION
 
Item 1. Financial Statements
 
REGIS CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEET (Unaudited)
(Dollars in thousands, except share data)
 
 March 31,
2020
June 30,
2019
ASSETS  
Current assets:  
Cash and cash equivalents$241,037  $70,141  
Receivables, net27,602  30,143  
Inventories59,029  77,322  
Other current assets23,211  33,216  
Total current assets350,879  210,822  
Property and equipment, net65,880  78,090  
Goodwill (Note 9)226,666  345,718  
Other intangibles, net (Note 9)7,568  8,761  
Right of use asset (Note 10)861,569  —  
Other assets38,227  34,170  
Non-current assets held for sale (Note 1)  5,276  
Total assets$1,550,789  $682,837  
LIABILITIES AND SHAREHOLDERS’ EQUITY  
Current liabilities:  
Accounts payable$39,120  $47,532  
Accrued expenses43,475  80,751  
Short-term lease liability (Note 10)149,482  —  
Total current liabilities232,077  128,283  
Long-term debt, net273,000  90,000  
Long-term lease liability (Note 10)727,245    
Long-term financing liabilities28,233  28,910  
Other non-current liabilities92,698  111,399  
Total liabilities1,353,253  358,592  
Commitments and contingencies (Note 7)
Shareholders’ equity:  
Common stock, $0.05 par value; issued and outstanding 35,566,206 and 36,869,249 common shares at March 31, 2020 and June 30, 2019, respectively
1,778  1,843  
Additional paid-in capital21,186  47,152  
Accumulated other comprehensive income6,998  9,342  
Retained earnings167,574  265,908  
Total shareholders’ equity197,536  324,245  
Total liabilities and shareholders’ equity$1,550,789  $682,837  
_______________________________________________________________________________ 

The accompanying notes are an integral part of the unaudited Condensed Consolidated Financial Statements.
3


REGIS CORPORATION
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS (Unaudited)
For The Three and Nine Months Ended March 31, 2020 and 2019
(Dollars and shares in thousands, except per share data amounts)
 Three Months Ended March 31,Nine Months Ended March 31,
 2020201920202019
Revenues:
Service$78,387  $181,809  $322,133  $580,076  
Product34,877  53,766  124,516  173,006  
Royalties and fees8,698  22,768  66,062  67,767  
Franchise rental income (Note 10)31,821  —  96,875  —  
Total revenue153,783  258,343  609,586  820,849  
Operating expenses:
Cost of service54,824  111,632  212,664  348,060  
Cost of product21,672  31,167  75,257  99,698  
Site operating expenses3,660  34,339  62,932  106,723  
General and administrative31,871  41,694  105,187  135,257  
Rent19,243  32,332  64,002  102,952  
Franchise rent expense31,821  —  96,875  —  
Depreciation and amortization10,359  8,630  27,486  27,732  
TBG mall location restructuring (Note 3)146  20,711  2,368  20,711  
Goodwill impairment44,529    44,529    
Total operating expenses218,125  280,505  691,300  841,133  
Operating loss(64,342) (22,162) (81,714) (20,284) 
Other (expense) income:
Interest expense(1,712) (1,354) (4,615) (3,432) 
(Loss) gain from sale of salon assets to franchisees, net(10,208) 11,489  (21,760) 10,394  
Interest income and other, net(1,329) 464  3,188  1,453  
Loss from continuing operations before income taxes(77,591) (11,563) (104,901) (11,869) 
Income tax benefit (expense)2,253  (3,248) 5,904  (2,988) 
Loss from continuing operations(75,338) (14,811) (98,997) (14,857) 
Income from discontinued operations, net of taxes (Note 3)301  178  753  6,027  
Net loss$(75,037) $(14,633) $(98,244) $(8,830) 
Net loss per share:
Basic and diluted:
Loss from continuing operations$(2.10) $(0.37) $(2.75) $(0.35) 
Income from discontinued operations0.01  0.00  0.02  0.14  
Net loss per share, basic and diluted (1)$(2.10) $(0.36) $(2.73) $(0.21) 
Weighted average common and common equivalent shares outstanding:
Basic and diluted35,815  40,314  35,958  42,900  
_______________________________________________________________________________
(1)Total is a recalculation; line items calculated individually may not sum to total due to rounding.

 The accompanying notes are an integral part of the unaudited Condensed Consolidated Financial Statements.
4


REGIS CORPORATION
CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE LOSS (Unaudited)
For The Three and Nine Months Ended March 31, 2020 and 2019
(Dollars in thousands)
 Three Months Ended March 31,Nine Months Ended March 31,
 2020201920202019
Net loss$(75,037) $(14,633) $(98,244) $(8,830) 
Foreign currency translation adjustments(2,482) 905  (2,344) (606) 
Comprehensive loss$(77,519) $(13,728) $(100,588) $(9,436) 
_______________________________________________________________________________ 
 
The accompanying notes are an integral part of the unaudited Condensed Consolidated Financial Statements.
5


REGIS CORPORATION
CONDENSED CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY (Unaudited)
For the Three and Nine Months Ended March 31, 2020 and 2019
(Dollars in thousands)
Three Months Ended March 31, 2020
 Common StockAdditional
Paid-In
Capital
Accumulated
Other
Comprehensive
Income
Retained
Earnings
Total
 SharesAmount
Balance, December 31, 201935,563,611  $1,778  $21,230  $9,480  $242,573  $275,061  
Net loss—  —  —  —  (75,037) (75,037) 
Foreign currency translation—  —  —  (2,482) —  (2,482) 
Stock-based compensation—  —  (25) —  —  (25) 
Net restricted stock activity2,595  —  (19) —  —  (19) 
Minority interest—  —  —  —  38  38  
Balance, March 31, 202035,566,206  $1,778  $21,186  $6,998  $167,574  $197,536  

Three Months Ended March 31, 2019
 Common StockAdditional
Paid-In
Capital
Accumulated
Other
Comprehensive
Income
Retained
Earnings
Total
 SharesAmount
Balance, December 31, 201841,472,468  $2,074  $128,964  $8,145  $285,827  $425,010  
Net loss—  —  —  —  (14,633) (14,633) 
Foreign currency translation—  —  —  905  —  905  
Stock repurchase program(2,050,430) (102) (37,818) —  —  (37,920) 
Exercise of SARs7,080  —  (101) —  —  (101) 
Stock-based compensation—  —  2,512  —  —  2,512  
Net restricted stock activity4,006  —  (42) —  —  (42) 
Minority interest—  —  —  —  79  79  
Balance, March 31, 201939,433,124  $1,972  $93,515  $9,050  $271,273  $375,810  





























6



REGIS CORPORATION
CONDENSED CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY (Unaudited)
For the Three and Nine Months Ended March 31, 2020 and 2019 (Continued)
(Dollars in thousands)


Nine Months Ended March 31, 2020
 Common StockAdditional
Paid-In
Capital
Accumulated
Other
Comprehensive
Income
Retained
Earnings
Total
 SharesAmount
Balance, June 30, 201936,869,249  $1,843  $47,152  $9,342  $265,908  $324,245  
Net loss—  —  —  —  (98,244) (98,244) 
Foreign currency translation—  —  —  (2,344) —  (2,344) 
Stock repurchase program(1,504,000) (75) (26,281) —  —  (26,356) 
Exercise of SARs1,776  —  28  —  —  28  
Stock-based compensation—  —  2,114  —  —  2,114  
Net restricted stock activity199,181  10  (1,827) —  —  (1,817) 
Minority interest—  —  —  —  (90) (90) 
Balance, March 31, 202035,566,206  $1,778  $21,186  $6,998  $167,574  $197,536  

Nine Months Ended March 31, 2019
 Common StockAdditional
Paid-In
Capital
Accumulated
Other
Comprehensive
Income
Retained
Earnings
Total
 SharesAmount
Balance, June 30, 201845,258,571  $2,263  $194,436  $9,656  $280,083  $486,438  
Net loss—  —  —  —  (8,830) (8,830) 
Foreign currency translation—  —  —  (606) —  (606) 
Stock repurchase program(6,023,523) (301) (105,951) —  —  (106,252) 
Exercise of SARs15,412  1  (205) —  —  (204) 
Stock-based compensation—  —  7,065  —  —  7,065  
Net restricted stock activity182,664  9  (1,830) —  —  (1,821) 
Minority interest—  —  —  —  20  20  
Balance, March 31, 201939,433,124  $1,972  $93,515  $9,050  $271,273  $375,810  
_______________________________________________________________________________ 

The accompanying notes are an integral part of the unaudited Condensed Consolidated Financial Statements.
7


REGIS CORPORATION
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited)
For The Nine Months Ended March 31, 2020 and 2019
(Dollars in thousands)
 Nine Months Ended March 31,
 20202019
Cash flows from operating activities:  
Net loss$(98,244) $(8,830) 
Adjustments to reconcile net (loss) to net cash used in operating activities: 
Non-cash adjustments related to discontinued operations(967) (163) 
Depreciation and amortization23,635  24,727  
Deferred income taxes(6,590) (6,034) 
Gain from sale of company headquarters, net(2,513)   
Loss (gain) from sale of salon assets to franchisees, net 21,760  (10,394) 
Non-cash TBG mall location restructuring charge  20,711  
Goodwill impairment44,529    
Salon asset impairments3,851