Supercuts 2008 Annual Report Download - page 28

The comparison assumes the initial investment of $100 in the Company's Common Stock, the S&P 500 Index, the Peer Group, the S&P 400
Midcap Index and the Dow Jones Consumer Services Index on June 30, 2003 and those dividends, if any, were reinvested.
Comparison of 5 Year Cumulative Total Return
Assumes Initial Investment of $100
June 2008
(b) Share Repurchase Program
In May 2000, the Company's Board of Directors (BOD) approved a stock repurchase program. Originally, the program authorized up to
$50.0 million to be expended for the repurchase of the Company's stock. The BOD elected to increase this maximum to $100.0 million in August
2003, to $200.0 million on May 3, 2005, and to $300.0 million on April 26, 2007. The timing and amounts of any repurchases will depend on
many factors, including the market price of the common stock and overall market conditions. Historically, the repurchases to date have been
made primarily to eliminate the dilutive effect of shares issued in conjunction with acquisitions, restricted stock grants and stock option
exercises. All repurchased shares become authorized but unissued shares of the Company. This repurchase program has no stated expiration
date. As of June 30, 2008, 2007, and 2006, a total accumulated 6.8, 5.1, and 3.0 million shares have been repurchased for $226.5, $176.5, and
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2003 2004 2005 2006 2007 2008
Regis
100.00
154.01
135.52
124.01
133.76
92.65
S & P 500
100.00
119.09
126.59
137.47
165.61
143.83
S & P 400 Midcap
100.00
127.88
144.47
164.59
194.94
180.67
Dow Jones Consumer Service Index
100.00
113.69
120.35
119.98
141.90
111.57
Peer Group
100.00
133.98
155.35
164.48
177.53
130.88