The new unit will be the result of last week's announcement that Regis would acquire the interest in PureBeauty and BeautyFirst it did not already own, and would convert its Trade Secret stores to PureBeauty. The transformed stores will shift from a professional product focus to boutiques with a full range of beauty items.
"The new PureBeauty will combine the very best of both brands, bringing together PureBeauty's strength in skin, cosmetic and bath with Trade Secret's existing platform and really exceptional real estate," said Paul D. Finkelstein, chairman and CEO.
Revenues for the quarter increased 4% from the previous year to $682 million. Consolidated same-store sales decreased 0.8%. Net income for the quarter was $22.6 million.
As of September 30, 2007, Regis franchised or held ownership interests in over 12,500 locations, under the names Supercuts, Jean Louis David, Vidal Sassoon, Regis Salons, MasterCuts, Trade Secret, SmartStyle, Cost Cutters and Hair Club for Men and Women. In addition, Regis maintains ownership interests in Empire Education Group and various other salon concepts such as Cool Cuts 4 Kids, and the Beauty Takashi and Beauty Plaza concepts in Japan.
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