Edina-based Regis laid off about 15 percent of its corporate workforce, according to the Business Journal. The hair salon operator also posted higher-than-expected profits.
St. Michael standoff suspect charged, bail set at $10 million
A judge on Monday set the high bail due to "very significant concerns of public safety" regarding Brandon Gardas.
Crisp & Green opening 13th store in Twin Cities in July
The fast-casual salad and grains restaurant has exploded onto the food scene.
Twins to host post-game concert with country star at Target Field
Country singer Cole Swindell is expected to perform for up to 75 minutes after the conclusion of the Blue Jays-Twins contest.
Canton Restaurant closes after nearly 40 years in Burnsville
It's the end of an era in the Twin Cities restaurant world.
Luck strikes in Minnesota: lottery winners in Duluth, Grand Marais
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60-year-old woman arrested after firing shots inside Spicer home
SWAT evacuated nearby residents during the incident.
Florida Georgia Line booked to play at the Minnesota State Fair
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Isolated severe weather in Minnesota on Tuesday and Wednesday
Definitely not a slam dunk either day, but the chance is there.
Regis loses nearly $64M in 4Q
The troubled Edina-based hair salon operator reported it lost $63.6 million in the fourth quarter because of a hefty impairment charge and fewer customers, the Twin Cities Business reports. Excluding non-operational items, Regis earned 40 cents per share, topping Wall Street estimates of 31 cents.
Capella University will lay off 65 workers
The online school is letting go of about 4 percent of its non-faculty workforce. The company says in a news release that a move away from third-party marketing has left it with excess capacity. The Business Journal reports the company has seen enrollment decline recently.
Regis sells Hair Club for Men and Women to Japanese firm
For Edina-based Regis, the deal will help it concentrate on its core salon businesses which include Supercuts and MasterCuts. The company also shed some other non-core assets of late, the Star Tribune points out. In April Regis announced that it was selling its minority stake in Europe's biggest hair salon company, Provalliance.
Regis 4Q sales drop 4 percent
This is the 16th consecutive quarter in which same-store sales declined for the troubled Edina-based hair salon, the Star Tribune reports. Earnings will be disclosed when the full report is released next month. In a statement, interim Regis CEO Eric Bakken wrote, "Meaningful change is underway at Regis, and, as we look forward to fiscal 2013, we expect these changes will drive improvement in our same-store sales results."
Regis Corp. plans to trim hair salons and brands
The new Chief Operating Officer told the Star Tribune the Edina-based company will close less than 10 percent of its 7,500 company-owned stores. An exact figure or locations were not disclosed. Regis also plans to eliminate half of its 50 brand names and convert most of the affected salons. The struggling company wants to reduce costs and simplify its business model.
Regis Corp. hires new president and CEO
The struggling Edina-based hair care giant has chosen Royal Caribbean Cruises executive Daniel Hanrahan as its new chief executive officer. Hanrahan will join Regis Corporation on August 6. Most recently, he was president and CEO of the Celebrity Cruise brand. Interim COO Eric Bakken was tapped to serve as interim CEO of Regis earlier this month.
Regis Corp. taps Bakken to serve as interim CEO
Eric Bakken will serve as its interim chief executive officer while the Edina-based hair-care company continues its search, Twin Cities Business reports. Bakken already serves as chief operating officer, executive vice president, general counsel, and business development officer.
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