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Regis Corporation (NYSE: RGS), a baton in the haircare industry, whose primary business is franchising, owning, and operating technology enabled beard salons, today appear it has taken added accomplishments to abate the aftereffect of the COVID-19 civic emergency on its business operations.



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Able immediately, Regis has briefly bankrupt all of its accumulated endemic salons for a aeon of at atomic two weeks due to the continuing ambiguity about the COVID-19 bloom crisis and ascent state-level or bounded government mandates. An bush cardinal of the Company’s authorization locations abide operational at this time. Additionally, Regis is implementing a furlough affairs which impacts a abundant majority of its workforce apery about 485 positions beyond its accumulated office, acreage abutment and administration centers. This decision, which is able as of April 5, 2020, and is advancing to aftermost no beneath than 30 days, follows the Company’s March 19th advertisement that it had bankrupt salons as appropriate by government mandate, bargain salon hours and abeyant the accumulating of franchisee ad armamentarium fees. In adjustment to abate the banking claiming of the furlough on its employees, Regis will pay the agent allocation of allowances premiums during this period if the agent has advantage beneath Regis sponsored allowances plans.

The Company additionally implemented tiered acting allowance reductions for the CEO (60% reduction), carnality presidents and aloft (30% reduction) and 20% for essentially all added advisers who will be alive abounding time during the aeon of the furlough. Additionally, the Board of Directors is waiving their fees during the period. Regis will abide to chase the guidelines of government and bloom admiral in free back it will reopen its salons and offices.



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Hugh Sawyer, Chairman, President and CEO of Regis stated, “Given the still ambiguous continuance and severity associated with the COVID-19 communicable we accept taken additional, advancing accomplish to bottle the banking candor of our Company and to assure the assurance of our advisers and customers.” Mr. Sawyer concluded, “I am decidedly beholden for the cede of our stylists and advisers and the abutment of our authorization ally as we accost this aberrant civic healthcare crisis.”

About Regis Corporation Regis Corporation (NYSE:RGS) is a baton in adorableness salons and cosmetology education. As of December 31, 2019, the Company franchised, endemic or captivated buying interests in 7,152 common locations. Regis’ franchised and accumulated locations accomplish beneath concepts such as Supercuts®, SmartStyle®, Cost Cutters®, Roosters® and First Choice Haircutters®. Regis maintains an buying absorption in Empire Apprenticeship Group in the U.S. For added advice about the Company, including a adaptation of assertive non-GAAP banking advice and assertive added banking information, amuse appointment the Investor Advice area of the accumulated website at www.regiscorp.com.



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Safe Anchorage Statement This columnist absolution contains or may accommodate “forward-looking statements” aural the acceptation of the federal balance laws, including statements apropos advancing approaching contest and expectations that are not absolute facts. These advanced statements are fabricated pursuant to the safe anchorage accoutrement of the Private Balance Litigation Reform Act of 1995. The advanced statements in this certificate reflect management’s best acumen at the time they are made, but all such statements are accountable to abundant risks and uncertainties, which could account absolute after-effects to alter materially from those bidding in or adumbrated by the statements herein. Such advanced statements are generally articular herein by use of words including, but not bound to, “may,” “believe,” “project,” “forecast,” “expect,” “estimate,” “anticipate,” and “plan.” In addition, the afterward factors could affect the Company’s absolute after-effects and account such after-effects to alter materially from those bidding in advanced statements. These factors accommodate a abeyant actual abridgement in acquirement from our company-owned and franchised salons as a aftereffect of the ambiguous continuance and severity of the COVID-19 beginning as able-bodied as the bloom of our stylists, barter and employees. Added advice apropos abeyant factors that could affect approaching banking after-effects is set alternating beneath Item 1A on Form 10-K. We undertake no obligation to about amend or alter any advanced statements, whether as a aftereffect of new information, approaching contest or otherwise. However, your absorption is directed to any added disclosures fabricated in our consecutive anniversary and alternate letters filed or furnished with the SEC on Forms 10-K, 10-Q and 8-K and Proxy Statements on Schedule 14A.

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