Regis Corporation Reports Continued Profitability for the Fourth Fiscal Quarter and Full Fiscal Year 2023

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[{"type":"text","content":" MINNEAPOLIS--(BUSINESS WIRE)--\nRegis Corporation (NYSE: RGS), a leader in the haircare industry, today announced financial results for the fourth fiscal quarter and full year ended June 30, 2023.\n\n\nMatthew Doctor, Regis Corporation's President and Chief Executive Officer, commented: \"At the end of fiscal 2022, I mentioned that we were poised to deliver stronger results in fiscal 2023 – and we did exactly that. We finished the year strong, delivering our fourth consecutive quarter of positive operating income, leading to our highest-level of operating income since 2017. We demonstrated growth across key financial metrics including same-store sales, operating income and adjusted EBITDA, reflecting the successful execution of the strategies we have been implementing. We have largely stabilized the business in a relatively short period of time, and during what remains to be a challenging operating environment for our industry – having gone from an adjusted EBITDA loss of $76.9 million in fiscal 2021, an adjusted EBITDA loss $1.8 million in fiscal 2022, to positive adjusted EBITDA of $21.0 million in fiscal 2023. We continued to reduce costs and generated efficiencies while focusing on our talent, technology, stylist community, and customer marketing to optimize our platform for sustained profitable growth. I am proud of our team and franchisees for their valuable contributions to the year and am excited to make continued progress in fiscal 2024.\"\n\n\nFinancial Highlights:\n\n\nFourth quarter fiscal 2023 compared to fourth quarter fiscal 2022:\n\n\n\nSystem-wide revenue of $311.8 million decreased $5.0 million from $316.8 million and system-wide same-store sales increased 2.5%;\n\n\n\n\nOperating income improved $4.9 million to $3.6 million, from an operating loss of $1.3 million in the 2022 fourth quarter;\n\n\n\n\nFranchise adjusted EBITDA of $5.5 million increased $3.0 million from $2.5 million in the 2022 fourth quarter;\n\n\n\n\nNet loss of $4.8 million improved $37.8 million from a loss of $42.6 million in the 2022 fourth quarter; and\n\n\n\n\nAdjusted EBITDA of $5.2 million increased $4.2 million from $1.0 million in the 2022 fourth quarter.\n\n\n\nFull fiscal year 2023 compared to full fiscal year 2022:\n\n\n\nSystem-wide revenue of $1,230.5 million increased $2.0 million from $1,228.5 million and system-wide same-sto...

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