MINNEAPOLIS--(BUSINESS WIRE)--Regis Corporation (NYSE:RGS), a leader in the haircare industry, whose primary business is owning, operating and franchising hair salons, announced today its earnings release and conference call for the fourth fiscal quarter ended June 30, 2015, has been rescheduled from Thursday, August 20, 2015 to Friday, August 28, 2015. Following the release, the Company will host a presentation via webcast for investors beginning at 9:00 a.m. Central time to discuss current corporate developments and financial results.
The Company stated the date change is due to finalizing its accounting for the non-cash impacts of deferred rent. In connection with this work, the Company identified an understatement of its deferred rent liability of approximately $5.5 million, and is revising its financial statements accordingly. The Company does not expect this revision to have a material impact on earnings in any fiscal year from 2011 through 2015. As a result of this revision, rent expense will increase approximately $0.1 million in Fiscal 2015, $0.2 million in Fiscal 2014 and $0.5 million in Fiscal 2013. This compares to total rent expense of approximately $309 million in Fiscal 2015 and previously reported rent expense of $322.1 million in Fiscal 2014 and $324.7 million in Fiscal 2013. Additionally, the Company stated approximately $4.5 million of the total deferred rent adjustment related to periods from Fiscal 2010 and prior.
To participate in the live webcast, interested parties can log in to www.regiscorp.com, or participate via telephone by dialing (800) 967-7134 and entering access code 9656366. A replay of the presentation will be available later that day. The replay of the webcast will be available at www.regiscorp.com, or listen to the audio replay call by dialing (888) 203-1112 and entering access code 9656366.
About Regis Corporation
Regis Corporation (NYSE:RGS) is a leader in beauty salons and cosmetology education. As of March 31, 2015, the Company owned, franchised or held ownership interests in 9,567 worldwide locations. Regis’ corporate and franchised locations operate under concepts such as Supercuts, SmartStyle, MasterCuts, Regis Salons, Sassoon Salon, Cost Cutters and First Choice Haircutters. Regis maintains ownership interests in Empire Education Group in the U.S. and the MY Style concepts in Japan. 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. To join Regis Corporation’s email alert list, click on this link: http://www.b2i.us/irpass.asp?BzID=913&to=ea&Nav=1&S=0&L=1