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.
LIVE UPDATES: Dangerous storms move through Twin Cities
We'll have live updates as the storms move through the metro.
Tornado watch issued in Twin Cities, southern Minnesota
The watch will remain in place until midnight.
Wild fox in Minnesota tests positive for highly contagious avian flu
This is the first confirmed case of highly pathogenic avian influenza in a wild mammal in the state, the Department of Natural Resources said.
New COVID-19 testing site in St. Paul; 3 others to close as cases rise
Testing sites in Stillwater, Hutchinson, and St. Paul are closing as part of moves to adjust testing resources.
Charges: South St. Paul teen killed during apparent marijuana sale
The individual accused of killing Skelley is a 17-year-old from St. Paul.
Anthony Edwards among NBA stars in Adam Sandler's Netflix film, 'Hustle'
The Timberwolves point guard stars alongside other NBA players LeBron James, Trae Young, Juancho Hernangomez and more.
Armed man found barricaded inside Brooklyn Park home, negotiators on scene
An active police presence remains in the area as negotiators speak with the suspect.
17-year-old South St. Paul homicide victim is identified
The medical examiner determined that Skelley died of multiple gunshot wounds.
Tornado watch issued in Minnesota, South Dakota, Iowa, Nebraska
Severe storms are expected to push into southwest Minnesota this afternoon.
Korean chicken chain Bonchon's 6th MN location set to open
The South Korean-based franchise has steadily increased its presence across the country.
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 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.
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.
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. 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.
Edina's Regis to sell remaining 3,108 company-owned hair salons
The haircare company will go to a fully franchised portfolio.
You Can Get BMTN Special Offers!