Regis Corporation (NYSE: RGS), a leader in the haircare industry, whose primary business is franchising, owning, and operating technology enabled hair salons, announced today it is working with infectious disease specialists at the University of Minnesota to assure the health and safety of their customers and stylists is at the forefront of their salon reopening plans. Regis initiated a rigorous review of each step in the customer journey from the time the consumer leaves their car through the entire salon service up until the moment the customer leaves the salon. Infectious disease specialists, Drs. Mahsa Abassi and Dr. Joshua Rhein, from the University of Minnesota Medical School, reviewed the Company’s mapping of the customer journey along with new safety training videos on how services are performed with the view of how to best protect customers and stylists. They provided recommendations on the proper personal protective equipment (PPE) and additional safety measures that have been communicated throughout the Company’s entire salon system to help educate and prepare the Company’s franchise partners and stylists for operating salons in a safe manner in a COVID-19 environment. Franchised and company-owned salons have incorporated these recommendations, along with any state specific guidelines, into the relaunch of salons and continuing operations. The Company is safely opening salons at a fast pace and currently has approximately 3,000 salons open across their fleet. The Company expects that the majority of its salons will be safely reopened in the summer as state mandates are lifted.
"Safety and sanitization have always been a primary focus in our industry. Hair salons and hair stylists are licensed and highly regulated by State governing agencies. COVID-19 has reinforced that customer and stylist safety is not just important, it is paramount. The recommendations made by Drs. Abassi and Rhein helped us create a safer salon environment for both our customers and stylists. We expect to continue to further instill a safety culture throughout our entire organization and our safety and sanitization protocols have allowed us to open our salons in a manner that is focused on the safety of our customers and stylists," commented Eric Bakken, Executive Vice President, President - Franchise of Regis Corporation. Further Mr. Bakken added, "I am grateful that our long-standing relationship with the University of Minnesota dating back to the early 1990’s allowed us to quickly and effectively work with Drs. Abassi and Rhein on work we believe is critical to the health and safety of our communities as we reopen our salons."
Hugh Sawyer, Chairman and Chief Executive Officer commented, "The health and safety of our customers and stylists is our highest priority. In a manner consistent with our Company values, we proactively invested a significant amount of capital in the training and PPE required to safely reopen our salons, including masks and protective eyewear for use across our entire portfolio of salons." "We look forward to the continued reopening of our franchise and company-owned salons this summer with a sustained commitment to the safety of our customers and stylists," added Mr. Sawyer. "I am proud of our stylist community, our association with the University of Minnesota and the professionalism of our franchise partners as we move forward to institutionalize a safety culture at Regis," concluded Mr. Sawyer.
About Regis Corporation
Regis Corporation (NYSE:RGS) is a leader in beauty salons and cosmetology education. As of December 31, 2019, the Company franchised, owned or held ownership interests in 7,152 worldwide locations. Regis’ franchised and corporate locations operate under concepts such as Supercuts®, SmartStyle®, Cost Cutters®, Roosters® and First Choice Haircutters®. Regis maintains an ownership interest in Empire Education Group in the U.S. For additional information about the Company, including a reconciliation of certain non-GAAP financial information and certain supplemental financial information, please visit the Investor Information section of the corporate website at www.regiscorp.com.
Safe Harbor Statement
This press release contains or may contain "forward-looking statements" within the meaning of the federal securities laws, including statements concerning anticipated future events and expectations that are not historical facts. These forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements in this document reflect management's best judgment at the time they are made, but all such statements are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those expressed in or implied by the statements herein. Such forward-looking statements are often identified herein by use of words including, but not limited to, "may," "believe," "project," "forecast," "expect," "estimate," "anticipate," and "plan." In addition, the following factors could affect the Company's actual results and cause such results to differ materially from those expressed in forward-looking statements. These factors include a potential material reduction in revenue from our company-owned and franchised salons as a result of the uncertain duration and severity of the COVID-19 outbreak as well as the health of our stylists, customers and employees. Additional information concerning potential factors that could affect future financial results is set forth under Item 1A on Form 10-K. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. However, your attention is directed to any further disclosures made in our subsequent annual and periodic reports filed or furnished with the SEC on Forms 10-K, 10-Q and 8-K and Proxy Statements on Schedule 14A.