Regis lays off 110 workers; stock rises as profits beat forecasts

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.
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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.

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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 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.

Video game maker lays off Minn. workers

California-based Activision, which produces games including the blockbuster hit "Call of Duty," has announced plans to lay off 31 employers at its Eden Prairie and Bloomington offices just three days after Christmas, KSTP reports.

Supervalu to lay off 200 workers in Minnesota

The job cuts are part of 800 layoffs around the country. Most of the Minnesota job cuts will occur at the grocery giant's corporate offices in Eden Prairie, though some workers at distribution centers and Cub Foods offices will also get pink slips. Store-level employees are not included in the downsizing.