Supercuts 2005 Annual Report Download - page 4

Download and view the complete annual report

Please find page 4 of the 2005 Supercuts annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 121

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121

PART I
Item 1. Business
Regis Corporation, the Registrant, together with its subsidiaries, is referred to herein as the “Company.”
(a) General Development of Business
In 1922, Paul and Florence Kunin opened Kunin Beauty Salon, which quickly expanded into a chain of value-priced salons located in
department stores. Their son, Myron, bought the chain in 1958 and changed its name to Regis. Regis Corporation is listed on the NYSE under
the ticker symbol “RGS.” Discussions of the general development of the business take place throughout this Annual Report on Form 10-K.
During fiscal year 2005, there were no significant changes to the Company’s corporate structure or material changes in the Company’s method
of conducting business. However, in December 2004, the Company purchased Hair Club for Men and Women, in part, to expand the
Company’s product and service offerings. The Company continues to acquire hair and retail product salons and beauty schools.
(b) Financial Information about Segments
Segment data for the years ended June 30, 2005, 2004 and 2003 are included in Note 11 to the Consolidated Financial Statements in
Part II, Item 8, of this Form 10-K.
(c) Narrative Description of Business
The following topical areas are discussed below in order to aid in understanding the Company and its operations:
3
Topic
Page(s)
Background
4
Industry Overview
4
Salon Business Strategy
4
-
8
Salon Concepts
8
-
14
Salon Franchising Program
14
-
16
Salon Markets and Marketing
16
Salon Education and Training Programs
16
-
17
Salon Staff Recruiting and Retention
17
Salon Design
17
Salon Management Information Systems
17
-
18
Salon Competition
18
Beauty School Business Strategy
18
-
20
Hair Restoration Business Strategy
20
-
21
Corporate Trademarks
21
Corporate Employees
21
Executive Officers
22
-
23
Corporate Community Involvement
23
Governmental Regulations
23