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Recession Rocks Regis Corp.

Consumers cut back on their trips to the hair salon.

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By: TOM BRANNA

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Need more evidence that the recession has impacted the global beauty industry? Regis Corporation, the leading player in the salon market, reported a net loss of $4.5 million in the fourth quarter ended June 30 and a5% slide in fourth quarter sales to $466.5 million. For the year, Regis’ sales fell 1.6% to $1.83 billion and the company reported a net loss of $124.4 million compared to a profit of $85.2 million in 2008. “If ever you wanted proof that the salon business is sufferi...

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