Hair News - February 2002

Regis Corporation Continues to Expand Presence in CanadaTotal Presence in Canada Now Exceeds 600 Salons -

MINNEAPOLIS, Feb. 14 /PRNewswire/ -- Regis Corporation (Nasdaq: RGIS) the largest owner, operator, franchisor, and consolidator of hair and retail product salons in the world, announced today the acquisition of 229 salons, 116 of which are franchised units, in one transaction. Of the acquired salons, 222 are located in Canada. The salons, operating under the Magicuts name, will generate approximately $10.8 million in annualized revenues, including $870,000 in royalty income.

Paul D. Finkelstein, President and Chief Executive Officer, stated, "The addition of Magicuts and our recently announced acquisition of First Choice Haircutters culminates our strategy of becoming the leading salon operator and franchisor in Canada. We had been working on both transactions for quite some time and both were included in our current year acquisition budget." Mr. Finkelstein further commented "While we are always evaluating additional acquisition opportunities, we remain focused on reducing our growth rate in fiscal 2002 in order to further strengthen our balance sheet as well as our existing salon base."

Including this transaction, Regis Corporation has completed 193
acquisitions in the past 87 months adding 4,044 salons, generating annualized revenue of $620 million and system-wide sales exceeding $1 billion.

Regis Corporation, based in Minneapolis, is the largest owner, operator, franchisor and acquirer of hair and retail product salons in the world.

Regis operates and franchises 6,269 salons (4,201 company-owned and 2,068 franchise) in six divisions: Regis Salons, Strip Center Salons (primarily Supercuts and Cost Cutters), MasterCuts, Trade Secret, Wal-Mart/SmartStyle Family Hair Salons, and International, and has nearly 40,000 employees worldwide.

SOURCE Regis Corporation

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Look for more exciting partnership news from HairBoutique.com.

2/14/01 Are you a salon or spa looking to hire beauty & hair professionals. Or maybe you are a professional in the industry looking for a new position. Karen has updated the Jobs Links page with all the latest sites for hair/beauty related jobs.

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