Regis Corporation (NASDAQ:RGS) Q3 2024 Earnings Conference Call May 1, 2024 8:30 AM ET
Company Participants
Biz McShane - VP, Corporate Controller
Matthew Doctor - President and CEO
Kersten Zupfer - EVP and CFO
Conference Call Participants
Biz McShane
Good morning, and thank you for joining the Regis Third Quarter Fiscal 2024 Earnings Conference Call. I'm your host Biz McShane, Vice President, Corporate Controller.
All participants are in listen-only mode and this conference is being recorded. The prepared remarks by our President and Chief Executive Officer, Matthew Doctor and Executive Vice President and Chief Financial Officer, Kersten Zupfer are accompanied by slides to help participants follow along.
I would like to remind everyone that the language on forward-looking statements included in our earnings release, and 8-K filing also apply to our comments made on the call today. These documents along with their presentation today can be found on our website, www.regiscorp.com/investorrelations, along with reconciliation of any non-GAAP financial measures mentioned on today's call with their corresponding GAAP measures.
Today's slides are located in the investor presentations and supplemental financial statements section of the investor site.
With that, I will now turn the call over to Matt.
Matthew Doctor
Thank you, Biz. Good morning, everyone. Before I jump into our Q3 fiscal 2024 results. Just a quick note about our strategic review process. As I've noted on prior calls, this effort is aimed towards improving the health of our balance sheet and best position the business for long term profitable growth. We are making progress on the review and will not be otherwise be disclosing any new developments on the call today. As Kersten and I will discuss, we will remain focused on executing our strategic plan as this process continues.
Now with that, let's turn to the quarter. Same-store sales rose 0. 5% in the quarter and 1.4% year-to-date. We saw a similar progression in comparable sales throughout the quarter, just as we did in our last quarter, which is our fiscal Q2. Weather had a significant impact to the start of our fiscal Q3 as the first three weeks ending January 21st demonstrated comps down 6.2%. Our salons did a good job during the rest of the quarter making up for that lost ground, as we ended the month of January with a negative 3% sales comp, followed by positive 1.3% comps in February and a 2.8% positive comp in March.