Regis to close approximately 600 nonperforming SmartStyle salons on Jan 31
Regis announced it will close approximately 600 nonperforming company owned SmartStyle salons on January 31. CEO Sawyer said, "Consistent with our multi-year strategic plan, Regis is taking steps in 2018 to restructure our salon portfolio to improve shareholder value and position the company for long-term growth. Today's announcement, when combined with the previously announced sale and subsequent franchising of our mall-based and international salons, delivers on that commitment. This initiative is a positive step forward and we anticipate this action will allow Regis to reallocate capital and human resources to strategically grow our remaining 2,000 SmartStyle salons with creative new offerings within Walmart."