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Strategies & Market Trends : Sharck Soup -- Ignore unavailable to you. Want to Upgrade?

To: Jim Spitz who wrote (36735)	10/23/2001 9:10:35 AM
From: Jim Spitz	Read Replies (1) \| Respond to of 37746

Regis buys 523 salons in France; 1st-Qtr profit rises Published Oct 23 2001 Regis Corp., the largest operator and franchiser of hair salons, said it bought the third-largest beauty-store chain in France, and that fiscal first-quarter profit rose 21 percent. Terms for the acquisition of GGG Group's 523 franchised salons weren't disclosed. The chain, which had annual revenue of about $16 million, will immediately add 1 cent a share to full-year earnings, President and CEO Paul Finkelstein said. Edina-based Regis also reported that net income in the quarter ended Sept. 30 rose to $15.4 million, or 36 cents a share, from $12.7 million, or 31 cents, a year earlier. The results matched the average estimate of five analysts polled by Thomson Financial/First Call. Sales rose 13 percent to $349.7 million from $310.8 million. Same-store sales, or sales at stores open at least a year, rose 3.2 percent during the quarter. Regis, which owns salons under the Supercuts and Trade Secret brand names, plans to spend up to $45 million on acquisitions in this fiscal year, Finkelstein said. Regis shares fell 5 cents to $21.05. They have risen 45 percent this year. -- Bloomberg News