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Regis sales fall in fiscal 1st quarter

Regis sales decline in 1st quarter but beat analyst expectations

  • On 8:17 am EDT, Thursday October 8, 2009

MINNEAPOLIS (AP) -- Hair-care company Regis Corp. said Thursday its fiscal first-quarter sales fell 2 percent, but results beat analyst expectations.

Sales fell to $603 million, while analysts polled by Thomson Reuters, on average, predicted revenue of $599.3 million.

Sales in stores open at least one year, a key measure of a retailer's financial health, fell 4.5 percent.

"We continue to expect that customer visitation patterns will stabilize and, as a result, we should see improvement in our same-store sales beginning in the later half of our second quarter," said CEO Paul Finkelstein in a statement.

The company will report first-quarter earnings on Oct. 29.

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