Regis (RGS) 10-Q 4 Feb 20 2020 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Dec. 31, 2019	Jan. 29, 2020
Cover page.
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 31, 2019
Document Transition Report	false
Entity File Number	1-12725
Entity Registrant Name	Regis Corp
Entity Incorporation, State or Country Code	MN
Entity Tax Identification Number	41-0749934
Entity Address, Address Line One	7201 Metro Boulevard
Entity Address, City or Town	Edina
Entity Address, State or Province	MN
Entity Address, Postal Zip Code	55439
City Area Code	952
Local Phone Number	947-7777
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Title of 12(b) Security	Common Stock, $.05 par value
Entity Common Stock, Shares Outstanding		35,566,201
Entity Central Index Key	0000716643
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEET (Unaudited) - USD ($) $ in Thousands	Dec. 31, 2019	Jun. 30, 2019
Current assets:
Cash and cash equivalents	$ 49,783	$ 70,141
Receivables, net	27,756	30,143
Inventories	68,413	77,322
Other current assets	32,458	33,216
Total current assets	178,410	210,822
Property and equipment, net	68,917	78,090
Goodwill (Note 9)	293,019	345,718
Other intangibles, net (Note 9)	8,159	8,761
Right of use asset (Note 10)	911,948
Other assets	38,144	34,170
Non-current assets held for sale (Note 1)	0	5,276
Total assets	1,498,597	682,837
Current liabilities:
Accounts payable	55,587	47,532
Accrued expenses	59,707	80,751
Short-term lease liability (Note 10)	156,154
Total current liabilities	271,448	128,283
Long-term debt, net	60,000	90,000
Long-term lease liability (Note 10)	767,624	0
Long-term financing liabilities	28,485	28,910
Other noncurrent liabilities	95,979	111,399
Total liabilities	1,223,536	358,592
Commitments and contingencies (Note 7)
Shareholders’ equity:
Common stock, $0.05 par value; issued and outstanding 35,563,611 and 36,869,249 common shares at December 31, 2019 and June 30, 2019 respectively	1,778	1,843
Additional paid-in capital	21,230	47,152
Accumulated other comprehensive income	9,480	9,342
Retained earnings	242,573	265,908
Total shareholders’ equity	275,061	324,245
Total liabilities and shareholders’ equity	$ 1,498,597	$ 682,837

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEET (Unaudited) (Parenthetical) - $ / shares	Dec. 31, 2019	Jun. 30, 2019
Statement of Financial Position [Abstract]
Common stock par value (in dollars per share)	$ 0.05	$ 0.05
Common stock issued (in shares)	35,563,611	36,869,249
Common stock outstanding (in shares)	35,563,611	36,869,249

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		6 Months Ended
		Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Revenues:
Franchise rental income		$ 33,630		$ 65,054
Total revenues		208,765	$ 274,671	455,803	$ 562,506
Operating expenses:
Cost of service		67,358	114,931	157,840	236,428
Cost of product		27,258	36,350	53,585	68,531
Site operating expenses		26,330	35,563	59,272	72,384
General and administrative		32,691	45,836	73,316	93,563
Rent		33,600		65,100
Depreciation and amortization		7,747	8,900	17,127	19,102
TBG mall location restructuring (Note 3)		722	0	2,222	0
Total operating expenses		216,231	276,222	473,175	560,628
Operating (loss) income		(7,466)	(1,551)	(17,372)	1,878
Other (expense) income:
Interest expense		(1,464)	(1,072)	(2,903)	(2,078)
(Loss) gain from sale of salon assets to franchisees, net		(5,692)	2,865	(11,552)	(1,095)
Interest income and other, net		4,346	629	4,517	989
(Loss) income from continuing operations before income taxes		(10,276)	871	(27,310)	(306)
Income tax benefit (expense)		795	(454)	3,651	260
(Loss) income from continuing operations		(9,481)	417	(23,659)	(46)
Income from discontinued operations, net of taxes (Note 3)		79	6,113	452	5,849
Net (loss) income		$ (9,402)	$ 6,530	$ (23,207)	$ 5,803
Basic:
(Loss) income from continuing operations (in dollars per shares)		$ (0.26)	$ 0.01	$ (0.66)	$ 0
Income from discontinued operations (in dollars per share)		0	0.14	0.01	0.13
Net (loss) income per share, basic (in dollars per share)	[1]	(0.26)	0.15	(0.64)	0.13
Diluted:
(Loss) income from continuing operations (in dollars per share)		(0.26)	0.01	(0.66)	0
Income from discontinued operations (in dollars per share)		0	0.14	0.01	0.13
Net (loss) income per share, diluted (in dollars per share)	[1]	$ (0.26)	$ 0.15	$ (0.64)	$ 0.13
Weighted average common and common equivalent shares outstanding:
Basic (in shares)		35,798	43,619	36,028	44,175
Diluted (in shares)		35,798	44,479	36,028	44,175
Non-Franchise Lease
Operating expenses:
Rent		$ 20,495	$ 34,642	$ 44,759	$ 70,620
Franchisor
Operating expenses:
Rent		33,630		65,054
Service
Revenues:
Revenues		101,805	190,419	243,746	398,267
Product
Revenues:
Revenues		43,983	61,649	89,639	119,240
Royalties and fees
Revenues:
Revenues		$ 29,347	$ 22,603	$ 57,364	$ 44,999
[1]	Total is a recalculation; line items calculated individually may not sum to total due to rounding.

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE (LOSS) INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (9,402)	$ 6,530	$ (23,207)	$ 5,803
Foreign currency translation adjustments	541	(2,592)	138	(1,511)
Comprehensive (loss) income	$ (8,861)	$ 3,938	$ (23,069)	$ 4,292

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited) Statement - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income	Retained Earnings
Balance (in shares) at Jun. 30, 2018		45,258,571
Balance at Jun. 30, 2018	$ 486,438	$ 2,263	$ 194,436	$ 9,656	$ 280,083
Net (loss) income	5,803
Foreign currency translation	(1,511)			(1,511)
Stock repurchase program (in shares)		(3,973,093)
Stock repurchase program	(68,331)	$ (199)	(68,132)
Exercise of SARs (in shares)		8,332
Exercise of SARs	(105)		(105)
Stock-based compensation	4,552		4,552
Net restricted stock activity (in shares)		178,658
Net restricted stock activity	(1,777)	$ 10	(1,787)
Minority interest	(59)				(59)
Balance (in shares) at Dec. 31, 2018		41,472,468
Balance at Dec. 31, 2018	425,010	$ 2,074	128,964	8,145	285,827
Balance (in shares) at Sep. 30, 2018		44,328,127
Balance at Sep. 30, 2018	468,357	$ 2,217	175,983	10,737	279,420
Net (loss) income	6,530				6,530
Foreign currency translation	(2,592)			(2,592)
Stock repurchase program (in shares)		(2,879,414)
Stock repurchase program	(48,993)	$ (144)	(48,849)
Exercise of SARs (in shares)		4,531
Exercise of SARs	(63)		(63)
Stock-based compensation	2,219		2,219
Net restricted stock activity (in shares)		19,224
Net restricted stock activity	(325)	$ 1	(326)
Minority interest	(123)				(123)
Balance (in shares) at Dec. 31, 2018		41,472,468
Balance at Dec. 31, 2018	$ 425,010	$ 2,074	128,964	8,145	285,827
Balance (in shares) at Jun. 30, 2019	36,869,249	36,869,249
Balance at Jun. 30, 2019	$ 324,245	$ 1,843	47,152	9,342	265,908
Net (loss) income	(23,207)
Foreign currency translation	$ 138			138
Stock repurchase program (in shares)	(1,500,000)	(1,504,000)
Stock repurchase program	$ (26,356)	$ (75)	(26,281)
Exercise of SARs (in shares)		1,776
Exercise of SARs	28		28
Stock-based compensation	2,139		2,139
Net restricted stock activity (in shares)		196,586
Net restricted stock activity	(1,798)	$ 10	(1,808)
Minority interest	$ (128)				(128)
Balance (in shares) at Dec. 31, 2019	35,563,611	35,563,611
Balance at Dec. 31, 2019	$ 275,061	$ 1,778	21,230	9,480	242,573
Balance (in shares) at Sep. 30, 2019		35,548,036
Balance at Sep. 30, 2019	283,739	$ 1,777	20,880	8,939	252,143
Net (loss) income	(9,402)				(9,402)
Foreign currency translation	541			541
Exercise of SARs (in shares)		1,500
Exercise of SARs	28		28
Stock-based compensation	332		332
Net restricted stock activity (in shares)		14,075
Net restricted stock activity	(9)	$ 1	(10)
Minority interest	$ (168)				(168)
Balance (in shares) at Dec. 31, 2019	35,563,611	35,563,611
Balance at Dec. 31, 2019	$ 275,061	$ 1,778	$ 21,230	$ 9,480	$ 242,573

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands		6 Months Ended
		Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net (loss) income		$ (23,207)	$ 5,803
Adjustments to reconcile net (loss) income to net cash used in operating activities:
Non-cash adjustments related to discontinued operations		(586)	176
Depreciation and amortization		14,484	16,799
Deferred income taxes		(5,227)	(7,915)
Gain from sale of company headquarters, net		(3,990)	0
Loss from sale of salon assets to franchisees, net		11,552	1,095
Salon asset impairments		2,643	2,303
Stock-based compensation		2,139	4,552
Amortization of debt discount and financing costs		138	138
Other non-cash items affecting earnings		(243)	(352)
Changes in operating assets and liabilities, excluding the effects of asset sales (1)	[1]	(17,032)	(33,223)
Net cash used in operating activities		(19,329)	(10,624)
Cash flows from investing activities:
Capital expenditures		(17,576)	(16,804)
Proceeds from sale of assets to franchisees		69,414	24,050
Costs associated with sale of salon assets to franchisees		(1,550)	0
Proceeds from company-owned life insurance policies		0	24,617
Proceeds from sale of company headquarters		8,996	0
Net cash provided by investing activities		59,284	31,863
Cash flows from financing activities:
Repayment of long-term debt		(30,000)	0
Repurchase of common stock		(28,246)	(65,136)
Taxes paid for shares withheld		(1,809)	(2,305)
Net proceeds from sale and leaseback transaction			18,068
Sale and leaseback payments		(480)
Net cash used in financing activities		(60,535)	(49,373)
Effect of exchange rate changes on cash and cash equivalents		122	(174)
Decrease in cash, cash equivalents, and restricted cash		(20,458)	(28,308)
Cash, cash equivalents and restricted cash:
Beginning of period		71,921
End of period		$ 71,921	$ 120,466
[1]	Changes in operating assets and liabilities exclude assets and liabilities sold.

BASIS OF PRESENTATION OF UNAUDI

BASIS OF PRESENTATION OF UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:	6 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
BASIS OF PRESENTATION OF UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	BASIS OF PRESENTATION OF UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: The unaudited interim Condensed Consolidated Financial Statements of Regis Corporation (the "Company") as of December 31, 2019 and for the three and six months ended December 31, 2019 and 2018 , reflect, in the opinion of management, all adjustments necessary to fairly state the consolidated financial position of the Company as of December 31, 2019 and its consolidated results of operations, comprehensive (loss) income, changes in equity and cash flows for the interim periods. Adjustments consist only of normal recurring items, except for any discussed in the notes below. The results of operations and cash flows for any interim period are not necessarily indicative of results of operations and cash flows for the full year. The accompanying interim unaudited condensed consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (SEC). Accordingly, they do not include all disclosures required by accounting principles generally accepted in the United States of America (GAAP). The unaudited interim Condensed Consolidated Financial Statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended June 30, 2019 and other documents filed or furnished with the SEC during the current fiscal year. Goodwill: As of December 31, 2019 and June 30, 2019 , the Franchise reporting unit had $228.1 and $227.9 million of goodwill and the Company-owned reporting unit had $65.0 and $117.8 million of goodwill, respectively. See Note 9 to the unaudited interim Condensed Consolidated Financial Statements. The Company assesses goodwill impairment on an annual basis, during the Company’s fourth fiscal quarter, and between annual assessments if an event occurs, or circumstances change, that would more likely than not reduce the fair value of a reporting unit below its carrying amount. An interim impairment analysis was not required in the six months ended December 31, 2019 . The Company performs its annual impairment assessment as of April 30. For the fiscal year 2019 annual impairment assessment, due to the transformational efforts completed during the year, the Company elected to forgo the optional Step 0 assessment and performed the quantitative impairment analysis on the Franchise and Company-owned reporting units. The Company compared the carrying value of the reporting units, including goodwill, to their estimated fair value. The results of these assessments indicated that the estimated fair value of the Company's reporting units exceeded their carrying value. The Franchise reporting unit had substantial headroom and the Company-owned reporting unit had headroom of approximately 20% . The fair value of the Company-owned reporting unit was determined based on a discounted cash flow analysis. The key assumptions used in determining fair value were the number and pace of salons sold to franchisees and proceeds from salon sales. Assumptions were based on historical financial performance and trends, historical salon sale proceeds and estimated future salon sale activities. The preparation of the fair value estimate includes uncertain factors and requires significant judgments and estimates which are subject to change. There are a number of uncertain factors or events that exist which may result in a future triggering event and require an interim impairment analysis with respect to the carrying value of goodwill for the Company-owned reporting unit prior to the annual assessment. These internal and external factors include but are not limited to the following: • Changes in the company-owned salon strategy, • Salon closures or other restructuring, • Franchise expansion and sales opportunities, • Future market earnings multiples deterioration, • Financial performance falls short of projections due to internal operating factors, • Economic recession, • Reduced salon traffic, • Deterioration of industry trends, • Increased competition, • Inability to reduce general and administrative expenses as company-owned salon count potentially decreases, and • Other factors causing cash flow to deteriorate. If the triggering event analysis indicates the fair value of the Company-owned reporting unit has potentially fallen below more than the 20% headroom, the Company may be required to perform an updated impairment assessment which may result in a non-cash impairment charge to reduce the carrying value of goodwill. Assessing goodwill for impairment requires management to make assumptions and to apply judgment, including forecasting future sales and expenses, and selecting appropriate discount rates, which can be affected by economic conditions and other factors that can be difficult to predict. The Company does not believe there is a reasonable likelihood that there will be a material change in the estimates or assumptions it uses to calculate impairment losses of goodwill. However, if actual results are not consistent with the estimates and assumptions used in the calculations, or if there are significant changes to the Company's planned strategy for company-owned salons, the Company may be exposed to future impairment losses that could be material. Non-Current Assets Held for Sale: In March 2019, the Company announced that it had entered into a ten-year lease for a new corporate headquarters and would be selling the land and buildings currently used for its headquarters. The non-current assets held for sale represent the net book value of the land of $1.7 million and buildings of $3.6 million , as of June 30, 2019 . The sale was completed in December 2019 for proceeds of $9.0 million , resulting in a net gain on sale of $4.0 million , which was recorded in Interest income and other, net on the Condensed Consolidated Statement of Operations. Accounting Standards Recently Adopted by the Company: Leases The Company adopted ASU 2016-02, "Leases (Topic 842)” and all subsequent ASUs that modified Topic 842 as of July 1, 2019 using the modified retrospective method and elected the option to not restate comparative periods in the year of adoption. The Company also elected the package of practical expedients that do not require reassessment of whether existing contracts are or contain leases, lease classifications or initial direct costs. The Company has also made an accounting policy election to keep leases with an initial term of 12 months or less off the Balance Sheet. Under adoption of Topic 842, the Company recorded a Right of Use Asset and Lease Liability of $980.8 and $993.7 million , respectively. The difference between the assets and liabilities are attributable to the reclassification of certain existing lease-related assets and liabilities as an adjustment to the right of use assets. The Lease Liability reflects the present value of the Company's estimated future minimum lease payments over the lease term, which includes one option period, as options are reasonably assured of being exercised, are discounted using a collateralized incremental borrowing rate. The decrease in the Right of Use Asset and Lease Liability from July 1, 2019 to December 31, 2019 was due to lease modifications and salon closures. The accounting guidance for lessors remained largely unchanged from previous guidance, with the exception of the presentation of rent payments that the Company passes through to franchisees (lessees). Historically, these costs have been recorded on a net basis in the unaudited Condensed Consolidated Statements of Operations, but are now presented on a gross basis upon adoption of the new guidance. The adoption of the new guidance resulted in the recognition of franchise rental income and rent expense of $33.6 and $65.1 million during the three and six months ended December 31, 2019 , respectively. See Note 10 for further information about our transition to Topic 842 and the newly required disclosures. Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income

REVENUE RECOGNITION_

REVENUE RECOGNITION:	6 Months Ended
	Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
REVENUE RECOGNITION:	REVENUE RECOGNITION: Revenue Recognition and Deferred Revenue: Revenue recognized at point of sale Company-owned salon revenues are recognized at the time when the services are provided. Product revenues for company-owned salons are recognized when the guest receives and pays for the merchandise. Revenues from purchases made with gift cards are also recorded when the guest takes possession of the merchandise or services are provided. Gift cards issued by the Company are recorded as a liability (deferred revenue) upon sale and recognized as revenue upon redemption by the customer. Gift card breakage, the amount of gift cards which will not be redeemed, is recognized proportional to redemptions using estimates based on historical redemption patterns. Product sales by the Company to franchisees are included within product revenues in the unaudited Condensed Consolidated Statement of Operations and recorded at the time product is delivered to the franchisee. Payment for franchisee product revenue is generally collected within 30 to 90 days of delivery. Revenue recognized over time Franchise revenues primarily include royalties, advertising fund cooperatives fees, franchise fees and other fees. Royalty and advertising fund revenues represent sales-based royalties that are recognized in the period in which the sales occur. Generally, royalty and advertising fund revenue is billed and collected monthly in arrears. Advertising fund revenues and expenditures, which must be spent on marketing and related activities per the franchise agreements, are recorded on a gross basis within the unaudited Condensed Consolidated Statement of Operations. This increases both the gross amount of reported franchise revenue and site operating expense and generally has no impact on operating income and net income. Franchise fees are billed and received upon the signing of the franchise agreement. Recognition of these fees is deferred until the salon opening and is then recognized over the term of the franchise agreement, typically ten years . Franchise rental income is a result of the Company signing leases on behalf of franchisees and entering into a sublease arrangement with the franchisee. The Company recognizes franchise rental income and expense when it is due to the landlord. The following table disaggregates revenue by timing of revenue recognition and is reconciled to reportable segment revenues as follows: Three Months Ended December 31, 2019 Three Months Ended December 31, 2018 Franchise Company-owned Franchise Company-owned (Dollars in thousands) Revenue recognized at a point in time: Service $ — $ 101,805 $ — $ 190,419 Product 16,864 27,119 17,818 43,831 Total revenue recognized at a point in time $ 16,864 $ 128,924 $ 17,818 $ 234,250 Revenue recognized over time: Royalty and other franchise fees $ 18,644 $ — $ 14,736 $ — Advertising fund fees 10,703 — 7,867 — Franchise rental income 33,630 — — — Total revenue recognized over time 62,977 — 22,603 — Total revenue $ 79,841 $ 128,924 $ 40,421 $ 234,250 Six Months Ended December 31, 2019 Six Months Ended December 31, 2018 Franchise Company-owned Franchise Company-owned (Dollars in thousands) Revenue recognized at a point in time: Service $ — $ 243,746 $ — $ 398,267 Product 29,969 59,670 33,447 85,793 Total revenue recognized at a point in time $ 29,969 $ 303,416 $ 33,447 $ 484,060 Revenue recognized over time: Royalty and other franchise fees $ 36,235 $ — $ 29,156 $ — Advertising fund fees 21,129 — 15,843 — Franchise rental income 65,054 — — — Total revenue recognized over time 122,418 — 44,999 — Total revenue $ 152,387 $ 303,416 $ 78,446 $ 484,060 Information about receivables, broker fees and deferred revenue subject to the amended revenue recognition guidance is as follows: December 31, June 30, Balance Sheet Classification (Dollars in thousands) Receivables from contracts with customers, net $ 22,512 $ 23,210 Accounts receivable, net Broker fees $ 20,384 $ 17,819 Other assets Deferred revenue: Current Gift card liability $ 3,461 $ 3,050 Accrued expenses Deferred franchise fees unopened salons 217 193 Accrued expenses Deferred franchise fees open salons 5,042 4,164 Accrued expenses Total current deferred revenue $ 8,720 $ 7,407 Non-current Deferred franchise fees unopened salons $ 12,860 $ 15,173 Other non-current liabilities Deferred franchise fees open salons 31,555 24,194 Other non-current liabilities Total non-current deferred revenue $ 44,415 $ 39,367 Receivables relate primarily to payments due for royalties, franchise fees, advertising fees, franchise product sales and sales of salon services and product paid by credit card. The receivables balance is presented net of an allowance for expected losses (i.e., doubtful accounts), primarily related to receivables from franchisees. As of December 31, 2019 and June 30, 2019 , the balance in the allowance for doubtful accounts was $1.9 and $2.0 million , respectively. Broker fees are the costs associated with using external brokers to identify new franchisees. These fees are paid upon the signing of the franchise agreement and recognized as General and Administrative expense over the term of the agreement. The following table is a rollforward of the broker fee balance for the periods indicated (in thousands): Balance as of June, 30, 2019 $ 17,819 Additions 3,938 Amortization (1,341 ) Write-offs (32 ) Balance as of December, 31, 2019 $ 20,384 Deferred revenue includes the gift card liability and deferred franchise fees for unopened salons and open salons. Gift card revenue for the three months ended December 31, 2019 and 2018 was $0.7 and $1.1 million , respectively, and for the six months ended December 31, 2019 and 2018 was $1.5 and $2.2 million , respectively. Deferred franchise fees related to open salons are generally recognized on a straight-line basis over the term of the franchise agreement. Franchise fee revenue for the three months ended December 31, 2019 and 2018 was $1.3 and $0.8 million , respectively, and for the six months ended December 31, 2019 and 2018 was $2.4 and $1.7 million , respectively. Estimated revenue expected to be recognized in the future related to deferred franchise fees for open salons as of December 31, 2019 is as follows (in thousands): Remainder of 2020 $ 2,364 2021 4,930 2022 4,810 2023 4,633 2024 4,398 Thereafter 15,462 Total $ 36,597

TBG RESTRUCTURING AND DISCONTIN

TBG RESTRUCTURING AND DISCONTINUED OPERATIONS:	6 Months Ended
	Dec. 31, 2019
Discontinued Operations and Disposal Groups [Abstract]
TBG RESTRUCTURING AND DISCONTINUED OPERATIONS	TBG RESTRUCTURING AND DISCONTINUED OPERATIONS: In October 2017, the Company sold substantially all of its mall-based salon business in North America, representing 858 salons, to The Beautiful Group (TBG), who operated these locations as franchise locations until June 2019. In June 2019, the Company entered into a settlement agreement with TBG regarding the North America salons, which, among other things, substituted the master franchise agreement for a license agreement. The Company classified the results of its mall-based business as discontinued operations in the Condensed Consolidated Statement of Operations. Included in discontinued operations in the fiscal years presented are adjustments to actuarial assumptions related to the discontinued operations and income tax benefits associated with the wind-down and transfer of legal entities in fiscal year 2019. Other than the items presented in the Consolidated Statement of Cash Flows, there were no other significant non-cash operating activities or non-cash investing activities related to discontinued operations for the six months ended December 31, 2019 and 2018 . In the second quarter of fiscal year 2020, TBG transferred 207 of its North American mall-based salons to the Company. The 207 North American mall-based salons transferred were the salons that the Company was the guarantor of the lease obligation. The transfer of the 207 mall-based salons occurred on December 31, 2019 so the operational results of these mall-based salons are not included on the Condensed Consolidated Statement of Operations. Also, the assets acquired and liabilities assumed were not material to the Condensed Consolidated Balance Sheet. Professional fees and other restructuring related charges of $0.7 and $2.2 million in the three and six months ended December 31, 2019 , respectively,were recorded in the TBG restructuring line on the Condensed Consolidated Statement of Operations. As of December 31, 2019 , prior to any mitigation efforts which may be available, the Company remains liable for up to approximately $30.0 million related to its mall-based salon lease commitments, an $11 million reduction from June 30, 2019.

EARNINGS PER SHARE_

EARNINGS PER SHARE:	6 Months Ended
	Dec. 31, 2019
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE: The Company’s basic earnings per share is calculated as net loss divided by weighted average common shares outstanding, excluding unvested outstanding restricted stock awards (RSAs), restricted stock units (RSUs) and stock-settled performance units (PSUs). The Company’s diluted earnings per share is calculated as net loss divided by weighted average common shares and common share equivalents outstanding, which includes shares issued under the Company’s stock-based compensation plans. Stock-based awards with exercise prices greater than the average market price of the Company’s common stock are excluded from the computation of diluted earnings per share. For the three and six months ended December 31, 2019 , there were 1,322,308 and 1,338,634 , respectively, and for the six months ended December 31, 2018 there were 903,107 common stock equivalents of dilutive common stock excluded in the diluted earnings per share calculations due to the net loss from continuing operations. For the three months ended December 31, 2018 , there were 859,598 common stock equivalents of dilutive common stock included in the diluted earnings per share calculations due to the net income from continuing operations. The computation of weighted average shares outstanding, assuming dilution, excluded 66,151 and 734,526 of stock-based awards during the three months ended December 31, 2019 and 2018 , respectively, and 77,514 and 520,348 of stock-based awards during the six months ended December 31, 2019 and 2018

SHAREHOLDERS' EQUITY_

SHAREHOLDERS' EQUITY:	6 Months Ended
	Dec. 31, 2019
Stockholders' Equity Note [Abstract]
SHAREHOLDERS' EQUITY	SHAREHOLDERS’ EQUITY: Stock-Based Employee Compensation: During the three and six months ended December 31, 2019 , the Company granted various equity awards including restricted stock units (RSUs) and performance-based restricted stock units (PSUs). A summary of equity awards granted is as follows: For the Three Months Ended December 31, 2019 For the Six Months Ended December 31, 2019 Restricted stock units 7,564 193,640 Performance-based restricted stock units 22,694 73,712 The RSUs granted to employees during the three and six months ended December 31, 2019 vest in equal amounts over a three -year period subsequent to the grant date, cliff vest after a three -year period or cliff vest after a five -year period subsequent to the grant date. The PSUs granted to employees have a three -year performance period ending June 30, 2022 linked to the Company's stock price reaching a specified volume weighted average closing price for a 50 day period that ends on June 30, 2022. The PSUs granted have a maximum vesting percentage of 200% based on the level of performance achieved for the respective award. Total compensation cost for stock-based payment arrangements totaling $0.3 and $2.2 million for the three months ended December 31, 2019 and 2018 , respectively, and $2.1 and $4.6 million for the six months ended December 31, 2019 and 2018 , respectively, was recorded within general and administrative expense on the Condensed Consolidated Statement of Operations. Share Repurchases: During the six months ended December 31, 2019 , the Company repurchased 1.5 million shares for $26.4 million under a previously approved stock repurchase program. At December 31, 2019 , $54.6 million remains outstanding under the approved stock repurchase program.

INCOME TAXES_

INCOME TAXES:	6 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES: A summary of income tax benefit (expense) and corresponding effective tax rates is as follows: For the Three Months Ended December 31, For the Six Months Ended December 31, 2019 2018 2019 2018 (Dollars in thousands) Income tax benefit (expense) $ 795 $ (454 ) $ 3,651 $ 260 Effective tax rate 7.7 % 52.1 % 13.4 % 85.0 % The recorded tax provisions and effective tax rates for the three and six months ended December 31, 2019 were different than normally expected primarily due to the impact of the deferred tax valuation allowance and global intangible low-taxed income ("GILTI"). The recorded tax provision and effective tax rate for the three and six months ended December 31, 2018 were different than normally expected primarily due to the impact of the deferred tax valuation allowance. The Company is no longer subject to IRS examinations for years before 2013. Furthermore, with limited exceptions, the Company is no longer subject to state and international income tax examinations by tax authorities for years before 2012.

COMMITMENTS AND CONTINGENCIES_

COMMITMENTS AND CONTINGENCIES:	6 Months Ended
	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES: The Company is a defendant in various lawsuits and claims arising out of the normal course of business. Like certain other large retail employers, the Company has been faced with allegations of purported class-wide consumer and wage and hour violations. Litigation is inherently unpredictable and the outcome of these matters cannot presently be determined. Although the actions are being vigorously defended, the Company could in the future, incur judgments or enter into settlements of claims that could have a material adverse effect on its results of operations in any particular period.

CASH, CASH EQUIVALETS AND RESTR

CASH, CASH EQUIVALETS AND RESTRICTED CASH:	6 Months Ended
	Dec. 31, 2019
Cash and Cash Equivalents [Abstract]
CASH, CASH EQUIVALENTS AND RESTRICTED CASH:	CASH, CASH EQUIVALENTS AND RESTRICTED CASH: The table below reconciles the cash and cash equivalents balances and restricted cash balances, recorded in other current assets from the unaudited Condensed Consolidated Balance Sheet to the amount of cash, cash equivalents and restricted cash reported on the unaudited Condensed Consolidated Statement of Cash flows: December 31, June 30, (Dollars in thousands) Cash and cash equivalents $ 49,783 $ 70,141 Restricted cash, included in Other current assets (1) 22,138 22,238 Total cash, cash equivalents and restricted cash $ 71,921 $ 92,379 _______________________________________________________________________________ (1) Restricted cash within other current assets primarily relates to consolidated advertising cooperatives funds which can only be used to settle obligations of the respective cooperatives and contractual obligations to collateralize the Company's self-insurance programs.

GOODWILL AND OTHER INTANGIBLES_

GOODWILL AND OTHER INTANGIBLES:	6 Months Ended
	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLES	GOODWILL AND OTHER INTANGIBLES: The table below contains details related to the Company's goodwill: Franchise Company-owned Consolidated (Dollars in thousands) Goodwill, net at June 30, 2019 $ 227,928 $ 117,790 $ 345,718 Translation rate adjustments 139 (73 ) 66 Derecognition related to sale of salon assets to franchisees (1) — (52,765 ) (52,765 ) Goodwill, net at December 31, 2019 $ 228,067 $ 64,952 $ 293,019 _______________________________________________________________________________ (1) Goodwill is derecognized for salons sold to franchisees with positive cash flows. The amount of goodwill derecognized is determined by a fraction (the numerator of which is the trailing-twelve months EBITDA of the salon being sold and the denominator of which is the estimated annualized EBITDA of the Company-owned reporting unit) that is applied to the total goodwill balance of the Company-owned reporting unit. The table below presents other intangible assets: December 31, 2019 June 30, 2019 Cost (1) Accumulated Net Cost (1) Accumulated Net (Dollars in thousands) Amortized intangible assets: Brand assets and trade names $ 6,938 $ (3,786 ) $ 3,152 $ 6,909 $ (3,659 ) $ 3,250 Franchise agreements 9,817 (8,250 ) 1,567 9,783 (8,057 ) 1,726 Lease intangibles 13,495 (10,406 ) 3,089 13,490 (10,065 ) 3,425 Other 884 (533 ) 351 883 (523 ) 360 $ 31,134 $ (22,975 ) $ 8,159 $ 31,065 $ (22,304 ) $ 8,761 _______________________________________________________________________________ (1) The change in the gross carrying value and accumulated amortization of other intangible assets is impacted by foreign currency.

RIGHT OF USE ASSET AND LEASE LI

RIGHT OF USE ASSET AND LEASE LIABILITIES	6 Months Ended
	Dec. 31, 2019
Leases [Abstract]
RIGHT OF USE ASSET AND LEASE LIABILITIES	RIGHT OF USE ASSET AND LEASE LIABILITIES At contract inception, the Company determines whether a contract is, or contains, a lease by determining whether it conveys the right to control the use of the identified asset for a period of time. If the contract provides the Company the right to substantially all of the economic benefits from the use of the identified asset and the right to direct the use of the identified asset, the Company considers it to be, or contain, a lease. The Company leases its company-owned salons and some of its corporate facilities under operating leases. The original terms of the salon leases range from 1 to 20 years with many leases renewable for additional 5 to 10 year terms at the option of the Company. The Company also has variable lease payments that are based on sales levels. For most leases, the Company is required to pay real estate taxes and other occupancy expenses. Total rent expense includes the following: For the Three Months Ended December 31, For the Six Months Ended December 31, 2019 2018 2019 2018 (Dollars in thousands) Minimum rent $ 16,937 $ 28,859 $ 36,498 58,774 Percentage rent based on sales 550 1,052 1,847 2,103 Real estate taxes and other expenses 3,008 4,731 6,414 9,743 $ 20,495 $ 34,642 $ 44,759 $ 70,620 The Company also leases the premises in which the majority of its franchisees operate and has entered into corresponding sublease arrangements with franchisees. These leases, generally with terms of approximately 5 years , are expected to be renewed on expiration. All additional lease costs are passed through to the franchisees. Upon adopting Topic 842, the Company now records the rental payments due from franchisees as franchise rental income and the corresponding amounts owed to landlords as franchise rent expense on the Condensed Consolidated Statement of Operations. For the three and six months ended December 31, 2019 , franchise rental income was $33.6 and $65.1 million , respectively, and franchise rent expense was $33.6 and $65.1 million , respectively. For company-owned and franchise salon operating leases, the lease liability is initially and subsequently measured at the present value of the unpaid lease payments at the lease commencement date. The Right of Use (ROU) asset is initially and subsequently measured throughout the lease term at the carrying amount of the lease liability, plus initial direct costs, less any accrued lease payments and unamortized lease incentives received, if any. Lease expense for lease payments is recognized on a straight-line basis over the lease term. Generally, the non-lease components such as real estate taxes and other occupancy expenses are separate from rent expense within the lease and are not allocated to the lease liability. The discount rate used to determine the present value of the lease payments is the Company's estimated collateralized incremental borrowing rate, based on the yield curve for the respective lease terms, as the interest rate implicit in the lease cannot generally be determined. The Company uses the portfolio approach in applying the discount rate based on original lease term. The weighted average remaining lease term was 6.82 years and the weighted-average discount rate was 3.95 percent for all salon operating leases as of December 31, 2019 . As of December 31, 2019 , future operating lease commitments to be paid and received by the Company were as follows: Fiscal Year Leases for Franchise Salons Leases for Company-owned Salons Corporate Leases Total Operating Lease Payments Sublease Income To Be Received From Franchisees Net Rent Commitments Remainder of 2020 $ 59,771 $ 36,809 $ 335 $ 96,915 $ (59,771 ) $ 37,144 2021 113,224 64,907 1,781 179,912 (113,224 ) 66,688 2022 103,599 55,214 1,410 160,223 (103,599 ) 56,624 2023 93,725 48,589 1,447 143,761 (93,725 ) 50,036 2024 84,384 43,417 1,484 129,285 (84,384 ) 44,901 Thereafter 224,482 111,327 9,339 345,148 (224,482 ) 120,666 Total future obligations $ 679,185 $ 360,263 $ 15,796 $ 1,055,244 $ (679,185 ) $ 376,059 Less amounts representing interest 84,680 43,723 3,063 131,466 Present value of lease liabilities $ 594,505 316,540 12,733 923,778 Less current lease liabilities 96,249 59,218 687 156,154 Long-term lease liabilities $ 498,256 $ 257,322 $ 12,046 $ 767,624
RIGHT OF USE ASSET AND LEASE LIABILITIES	RIGHT OF USE ASSET AND LEASE LIABILITIES At contract inception, the Company determines whether a contract is, or contains, a lease by determining whether it conveys the right to control the use of the identified asset for a period of time. If the contract provides the Company the right to substantially all of the economic benefits from the use of the identified asset and the right to direct the use of the identified asset, the Company considers it to be, or contain, a lease. The Company leases its company-owned salons and some of its corporate facilities under operating leases. The original terms of the salon leases range from 1 to 20 years with many leases renewable for additional 5 to 10 year terms at the option of the Company. The Company also has variable lease payments that are based on sales levels. For most leases, the Company is required to pay real estate taxes and other occupancy expenses. Total rent expense includes the following: For the Three Months Ended December 31, For the Six Months Ended December 31, 2019 2018 2019 2018 (Dollars in thousands) Minimum rent $ 16,937 $ 28,859 $ 36,498 58,774 Percentage rent based on sales 550 1,052 1,847 2,103 Real estate taxes and other expenses 3,008 4,731 6,414 9,743 $ 20,495 $ 34,642 $ 44,759 $ 70,620 The Company also leases the premises in which the majority of its franchisees operate and has entered into corresponding sublease arrangements with franchisees. These leases, generally with terms of approximately 5 years , are expected to be renewed on expiration. All additional lease costs are passed through to the franchisees. Upon adopting Topic 842, the Company now records the rental payments due from franchisees as franchise rental income and the corresponding amounts owed to landlords as franchise rent expense on the Condensed Consolidated Statement of Operations. For the three and six months ended December 31, 2019 , franchise rental income was $33.6 and $65.1 million , respectively, and franchise rent expense was $33.6 and $65.1 million , respectively. For company-owned and franchise salon operating leases, the lease liability is initially and subsequently measured at the present value of the unpaid lease payments at the lease commencement date. The Right of Use (ROU) asset is initially and subsequently measured throughout the lease term at the carrying amount of the lease liability, plus initial direct costs, less any accrued lease payments and unamortized lease incentives received, if any. Lease expense for lease payments is recognized on a straight-line basis over the lease term. Generally, the non-lease components such as real estate taxes and other occupancy expenses are separate from rent expense within the lease and are not allocated to the lease liability. The discount rate used to determine the present value of the lease payments is the Company's estimated collateralized incremental borrowing rate, based on the yield curve for the respective lease terms, as the interest rate implicit in the lease cannot generally be determined. The Company uses the portfolio approach in applying the discount rate based on original lease term. The weighted average remaining lease term was 6.82 years and the weighted-average discount rate was 3.95 percent for all salon operating leases as of December 31, 2019 . As of December 31, 2019 , future operating lease commitments to be paid and received by the Company were as follows: Fiscal Year Leases for Franchise Salons Leases for Company-owned Salons Corporate Leases Total Operating Lease Payments Sublease Income To Be Received From Franchisees Net Rent Commitments Remainder of 2020 $ 59,771 $ 36,809 $ 335 $ 96,915 $ (59,771 ) $ 37,144 2021 113,224 64,907 1,781 179,912 (113,224 ) 66,688 2022 103,599 55,214 1,410 160,223 (103,599 ) 56,624 2023 93,725 48,589 1,447 143,761 (93,725 ) 50,036 2024 84,384 43,417 1,484 129,285 (84,384 ) 44,901 Thereafter 224,482 111,327 9,339 345,148 (224,482 ) 120,666 Total future obligations $ 679,185 $ 360,263 $ 15,796 $ 1,055,244 $ (679,185 ) $ 376,059 Less amounts representing interest 84,680 43,723 3,063 131,466 Present value of lease liabilities $ 594,505 316,540 12,733 923,778 Less current lease liabilities 96,249 59,218 687 156,154 Long-term lease liabilities $ 498,256 $ 257,322 $ 12,046 $ 767,624

FINANCING ARRANGEMENTS_

FINANCING ARRANGEMENTS:	6 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
FINANCING ARRANGEMENTS	FINANCING ARRANGEMENTS: The Company’s long-term debt consists of the following: Revolving Credit Facility Maturity Date Interest Rate December 31, June 30, (Fiscal Year) (Dollars in thousands) Revolving credit facility 2023 3.65% $ 60,000 $ 90,000 As of December 31, 2019 and June 30, 2019 , the Company has $60.0 and $90.0 million , respectively, of outstanding borrowings under a $295.0 million revolving credit facility. At December 31, 2019 and June 30, 2019 , the Company has outstanding standby letters of credit under the revolving credit facility of $21.5 million , primarily related to the Company's self-insurance program. The unused available credit under the facility was $213.5 and $183.5 million , as of December 31, 2019 and June 30, 2019 , respectively. Amounts outstanding under the revolving credit facility are due at maturity in March 2023. Sale and Leaseback Transaction The Company’s long-term financing liabilities consists of the following: Maturity Date Interest Rate December 31, June 30, (Fiscal Year) (Dollars in thousands) Financial liability - Salt Lake City Distribution Center 2034 3.30% $ 17,055 $ 17,354 Financial liability - Chattanooga Distribution Center 2034 3.70% 11,430 11,556 Long- term financing liability $ 28,485 $ 28,910 In fiscal year 2019, the Company sold its Salt Lake City and Chattanooga Distribution Centers to an unrelated party. The Company is leasing the properties back for 15 years with the option to renew. As the Company plans to lease the property for more than 75% of its economic life, the sales proceeds received from the buyer-lessor are recognized as a financial liability. This financial liability is reduced based on the rental payments made under the lease that are allocated between principal and interest. As of December 31, 2019 , the current portion of the Company’s lease liability was $0.9 million which was recorded in accrued expenses on the unaudited Condensed Consolidated Balance Sheet. The weighted average remaining lease term was 14.1 years and the weighted-average discount rate was 3.46% for financing leases as of December 31, 2019 . As of December 31, 2019 , future lease payments due are as follows: Fiscal year Salt Lake City Distribution Center Chattanooga Distribution Center (Dollars in thousands) Remainder of 2020 $ 574 $ 403 2021 1,157 817 2022 1,171 829 2023 1,186 842 2024 1,200 854 Thereafter 11,899 9,282 Total $ 17,187 $ 13,027 The financing liability does not include interest. Future lease payments above are due per the lease agreement and include embedded interest. Therefore, the total payments do not equal the financing liability. Total interest expense for the financing lease was $ 0.3 and $ 0.5 million for the three and six months ended December 31, 2019. The Company was in compliance with all covenants and requirements of its financing arrangements as of and during the three and six months ended December 31, 2019 .

FAIR VALUE MEASUREMENTS_

FAIR VALUE MEASUREMENTS:	6 Months Ended
	Dec. 31, 2019
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS: Fair value measurements are categorized into one of three levels based on the lowest level of significant input used: Level 1 (unadjusted quoted prices in active markets); Level 2 (observable market inputs available at the measurement date, other than quoted prices included in Level 1); and Level 3 (unobservable inputs that cannot be corroborated by observable market data). Assets and Liabilities Measured at Fair Value on a Recurring Basis As of December 31, 2019 and June 30, 2019 , the estimated fair value of the Company’s cash, cash equivalents, restricted cash, receivables, accounts payable, debt and long-term financial liabilities approximated their carrying values. The estimated fair values of the Company's debt and long-term financial liability are based on Level 2 inputs. Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis We measure certain assets, including the Company’s equity method investments, tangible fixed and other assets and goodwill, at fair value on a nonrecurring basis when they are deemed to be other than temporarily impaired. The fair values of these assets are determined, when applicable, based on valuation techniques using the best information available, and may include quoted market prices, market comparables and discounted cash flow projections. The following impairments were based on fair values using Level 3 inputs: For the Three Months Ended December 31, For the Six Months Ended December 31, 2019 2018 2019 2018 (Dollars in thousands) Long-lived assets $ 1,126 $ 472 $ 2,643 $ 2,303

SEGMENT INFORMATION_

SEGMENT INFORMATION:	6 Months Ended
	Dec. 31, 2019
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION: Segment information is prepared on the same basis that the chief operating decision maker reviews financial information for operational decision-making purposes. The Company’s reportable operating segments consisted of the following salons: December 31, June 30, FRANCHISE SALONS: SmartStyle/Cost Cutters in Walmart Stores 969 615 Supercuts 2,493 2,340 Signature Style 1,156 766 Total North American salons 4,618 3,721 Total International salons (1) 172 230 Total Franchise salons 4,790 3,951 as a percent of total Company-owned and Franchise salons 67.8 % 56.0 % COMPANY-OWNED SALONS: SmartStyle/Cost Cutters in Walmart Stores 1,159 1,550 Supercuts 262 403 Signature Style 649 1,155 Mall-based (2) 207 — Total Company-owned salons 2,277 3,108 as a percent of total Company-owned and Franchise salons 32.2 % 44.0 % OWNERSHIP INTEREST LOCATIONS: Equity ownership interest locations 85 86 Grand Total, System-wide 7,152 7,145 ____________________________________ (1) Canadian and Puerto Rican salons are included in the North American salon totals. (2) The mall-based salons were acquired from TBG on December 31, 2019 resulting in no impact to the Statement of Operations for the three and six months ended December 31, 2019. As of December 31, 2019 , the Company-owned operating segment is comprised primarily of SmartStyle ® , Supercuts ® , Cost Cutters ® , and other regional trade names and the Franchise operating segment is comprised primarily of Supercuts ® , SmartStyle ® , Cost Cutters ® , First Choice Haircutters ® , Roosters ® and Magicuts ® concepts. Financial information concerning the Company's reportable operating segments is shown in the following table: For the Three Months Ended December 31, 2019 Franchise Company-owned Corporate Consolidated (Dollars in thousands) Revenues: Service $ — $ 101,805 $ — $ 101,805 Product 16,864 27,119 — 43,983 Royalties and fees 29,347 — — 29,347 Franchise rental income 33,630 — — 33,630 Total revenue 79,841 128,924 — 208,765 Operating expenses: Cost of service — 67,358 — 67,358 Cost of product 13,072 14,186 — 27,258 Site operating expenses 10,704 15,626 — 26,330 General and administrative 8,976 7,547 16,168 32,691 Rent 401 19,374 720 20,495 Franchise rent expense 33,630 — — 33,630 Depreciation and amortization 210 5,938 1,599 7,747 TBG restructuring 722 — — 722 Total operating expenses 67,715 130,029 18,487 216,231 Operating income (loss) 12,126 (1,105 ) (18,487 ) (7,466 ) Other (expense) income: Interest expense — — (1,464 ) (1,464 ) Loss from sale of salon assets to franchisees, net — — (5,692 ) (5,692 ) Interest income and other, net — — 4,346 4,346 Income (loss) from continuing operations before income taxes $ 12,126 $ (1,105 ) $ (21,297 ) $ (10,276 ) For the Three Months Ended December 31, 2018 Franchise Company-owned Corporate Consolidated (Dollars in thousands) Revenues: Service $ — $ 190,419 $ — $ 190,419 Product 17,818 43,831 — 61,649 Royalties and fees 22,603 — — 22,603 Total revenue 40,421 234,250 — 274,671 Operating expenses: Cost of service — 114,931 — 114,931 Cost of product 14,449 21,901 — 36,350 Site operating expenses 7,867 27,696 — 35,563 General and administrative 9,466 14,198 22,172 45,836 Rent 184 34,258 200 34,642 Depreciation and amortization 215 6,728 1,957 8,900 Total operating expenses 32,181 219,712 24,329 276,222 Operating income (loss) 8,240 14,538 (24,329 ) (1,551 ) Other (expense) income: Interest expense — — (1,072 ) (1,072 ) Gain from sale of salon assets to franchisees, net — — 2,865 2,865 Interest income and other, net — — 629 629 Income (loss) from continuing operations before income taxes $ 8,240 $ 14,538 $ (21,907 ) $ 871 For the Six Months Ended December 31, 2019 Franchise Company-owned Corporate Consolidated (Dollars in thousands) Revenues: Service $ — $ 243,746 $ — $ 243,746 Product 29,969 59,670 — 89,639 Royalties and fees 57,364 — — 57,364 Franchise rental income 65,054 — — 65,054 Total revenue 152,387 303,416 — 455,803 Operating expenses: Cost of service — 157,840 — 157,840 Cost of product 23,352 30,233 — 53,585 Site operating expenses 21,130 38,142 — 59,272 General and administrative 17,333 17,697 38,286 73,316 Rent 591 43,163 1,005 44,759 Franchise rent expense 65,054 — — 65,054 Depreciation and amortization 370 12,045 4,712 17,127 TBG restructuring 2,222 — — 2,222 Total operating expenses 130,052 299,120 44,003 473,175 Operating income (loss) 22,335 4,296 (44,003 ) (17,372 ) Other (expense) income: Interest expense — — (2,903 ) (2,903 ) Loss from sale of salon assets to franchisees, net — — (11,552 ) (11,552 ) Interest income and other, net — — 4,517 4,517 Income (loss) from continuing operations before income taxes $ 22,335 $ 4,296 $ (53,941 ) $ (27,310 ) For the Six Months Ended December 31, 2018 Franchise Company-owned Corporate Consolidated (Dollars in thousands) Revenues: Service $ — $ 398,267 $ — $ 398,267 Product 33,447 85,793 — 119,240 Royalties and fees 44,999 — — 44,999 Total revenue 78,446 484,060 — 562,506 Operating expenses: Cost of service — 236,428 — 236,428 Cost of product 26,862 41,669 — 68,531 Site operating expenses 15,843 56,541 — 72,384 General and administrative 17,130 30,579 45,854 93,563 Rent 278 69,944 398 70,620 Depreciation and amortization 373 14,785 3,944 19,102 Total operating expenses 60,486 449,946 50,196 560,628 Operating income (loss) 17,960 34,114 (50,196 ) 1,878 Other (expense) income: Interest expense — — (2,078 ) (2,078 ) Loss from sale of salon assets to franchisees, net — — (1,095 ) (1,095 ) Interest income and other, net — — 989 989 Income (loss) from continuing operations before income taxes $ 17,960 34,114 $ (52,380 ) $ (306 )

SUBSEQUENT EVENTS_

SUBSEQUENT EVENTS:	6 Months Ended
	Dec. 31, 2019
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENT: In January 2020, the Company borrowed $30.0 million under its revolving credit facility. Additionally, the Company signed an agreement to sell its investment in Empire Education Group in January 2020. Upon the closure of the transaction, the Company expects to record an immaterial non-operating gain and an income tax benefit.

BASIS OF PRESENTATION OF UNAU_2

BASIS OF PRESENTATION OF UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: (Policies)	6 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Goodwill	The Company assesses goodwill impairment on an annual basis, during the Company’s fourth fiscal quarter, and between annual assessments if an event occurs, or circumstances change, that would more likely than not reduce the fair value of a reporting unit below its carrying amount. An interim impairment analysis was not required in the six months ended December 31, 2019 . The Company performs its annual impairment assessment as of April 30. For the fiscal year 2019 annual impairment assessment, due to the transformational efforts completed during the year, the Company elected to forgo the optional Step 0 assessment and performed the quantitative impairment analysis on the Franchise and Company-owned reporting units. The Company compared the carrying value of the reporting units, including goodwill, to their estimated fair value. The results of these assessments indicated that the estimated fair value of the Company's reporting units exceeded their carrying value. The Franchise reporting unit had substantial headroom and the Company-owned reporting unit had headroom of approximately 20% . The fair value of the Company-owned reporting unit was determined based on a discounted cash flow analysis. The key assumptions used in determining fair value were the number and pace of salons sold to franchisees and proceeds from salon sales. Assumptions were based on historical financial performance and trends, historical salon sale proceeds and estimated future salon sale activities. The preparation of the fair value estimate includes uncertain factors and requires significant judgments and estimates which are subject to change. There are a number of uncertain factors or events that exist which may result in a future triggering event and require an interim impairment analysis with respect to the carrying value of goodwill for the Company-owned reporting unit prior to the annual assessment. These internal and external factors include but are not limited to the following: • Changes in the company-owned salon strategy, • Salon closures or other restructuring, • Franchise expansion and sales opportunities, • Future market earnings multiples deterioration, • Financial performance falls short of projections due to internal operating factors, • Economic recession, • Reduced salon traffic, • Deterioration of industry trends, • Increased competition, • Inability to reduce general and administrative expenses as company-owned salon count potentially decreases, and • Other factors causing cash flow to deteriorate. If the triggering event analysis indicates the fair value of the Company-owned reporting unit has potentially fallen below more than the 20% headroom, the Company may be required to perform an updated impairment assessment which may result in a non-cash impairment charge to reduce the carrying value of goodwill. Assessing goodwill for impairment requires management to make assumptions and to apply judgment, including forecasting future sales and expenses, and selecting appropriate discount rates, which can be affected by economic conditions and other factors that can be difficult to predict. The Company does not believe there is a reasonable likelihood that there will be a material change in the estimates or assumptions it uses to calculate impairment losses of goodwill. However, if actual results are not consistent with the estimates and assumptions used in the calculations, or if there are significant changes to the Company's planned strategy for company-owned salons, the Company may be exposed to future impairment losses that could be material.
Accounting Standards Recently Adopted by the Company	Accounting Standards Recently Adopted by the Company: Leases The Company adopted ASU 2016-02, "Leases (Topic 842)” and all subsequent ASUs that modified Topic 842 as of July 1, 2019 using the modified retrospective method and elected the option to not restate comparative periods in the year of adoption. The Company also elected the package of practical expedients that do not require reassessment of whether existing contracts are or contain leases, lease classifications or initial direct costs. The Company has also made an accounting policy election to keep leases with an initial term of 12 months or less off the Balance Sheet. Under adoption of Topic 842, the Company recorded a Right of Use Asset and Lease Liability of $980.8 and $993.7 million , respectively. The difference between the assets and liabilities are attributable to the reclassification of certain existing lease-related assets and liabilities as an adjustment to the right of use assets. The Lease Liability reflects the present value of the Company's estimated future minimum lease payments over the lease term, which includes one option period, as options are reasonably assured of being exercised, are discounted using a collateralized incremental borrowing rate. The decrease in the Right of Use Asset and Lease Liability from July 1, 2019 to December 31, 2019 was due to lease modifications and salon closures. The accounting guidance for lessors remained largely unchanged from previous guidance, with the exception of the presentation of rent payments that the Company passes through to franchisees (lessees). Historically, these costs have been recorded on a net basis in the unaudited Condensed Consolidated Statements of Operations, but are now presented on a gross basis upon adoption of the new guidance. The adoption of the new guidance resulted in the recognition of franchise rental income and rent expense of $33.6 and $65.1 million during the three and six months ended December 31, 2019 , respectively. See Note 10 for further information about our transition to Topic 842 and the newly required disclosures. Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income In February 2018, the FASB issued ASU 2018-02, Income Statement - Reporting Comprehensive Income: Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income (AOCI), which provides the option to reclassify to retained earnings the tax effects resulting from the Tax Act related to items in AOCI. The Company adopted this guidance on July 1, 2019 and did not elect to reclassify the income tax effects from the Tax Act from AOCI to retained earnings as the impact was not material.
Revenue Recognition and Deferred Revenue	Revenue Recognition and Deferred Revenue: Revenue recognized at point of sale Company-owned salon revenues are recognized at the time when the services are provided. Product revenues for company-owned salons are recognized when the guest receives and pays for the merchandise. Revenues from purchases made with gift cards are also recorded when the guest takes possession of the merchandise or services are provided. Gift cards issued by the Company are recorded as a liability (deferred revenue) upon sale and recognized as revenue upon redemption by the customer. Gift card breakage, the amount of gift cards which will not be redeemed, is recognized proportional to redemptions using estimates based on historical redemption patterns. Product sales by the Company to franchisees are included within product revenues in the unaudited Condensed Consolidated Statement of Operations and recorded at the time product is delivered to the franchisee. Payment for franchisee product revenue is generally collected within 30 to 90 days of delivery. Revenue recognized over time Franchise revenues primarily include royalties, advertising fund cooperatives fees, franchise fees and other fees. Royalty and advertising fund revenues represent sales-based royalties that are recognized in the period in which the sales occur. Generally, royalty and advertising fund revenue is billed and collected monthly in arrears. Advertising fund revenues and expenditures, which must be spent on marketing and related activities per the franchise agreements, are recorded on a gross basis within the unaudited Condensed Consolidated Statement of Operations. This increases both the gross amount of reported franchise revenue and site operating expense and generally has no impact on operating income and net income. Franchise fees are billed and received upon the signing of the franchise agreement. Recognition of these fees is deferred until the salon opening and is then recognized over the term of the franchise agreement, typically ten years . Franchise rental income is a result of the Company signing leases on behalf of franchisees and entering into a sublease arrangement with the franchisee. The Company recognizes franchise rental income and expense when it is due to the landlord.
Fair Value Measurements	Assets and Liabilities Measured at Fair Value on a Recurring Basis As of December 31, 2019 and June 30, 2019 , the estimated fair value of the Company’s cash, cash equivalents, restricted cash, receivables, accounts payable, debt and long-term financial liabilities approximated their carrying values. The estimated fair values of the Company's debt and long-term financial liability are based on Level 2 inputs. Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis

REVENUE RECOGNITION_ (Tables)

REVENUE RECOGNITION: (Tables)	6 Months Ended
	Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
Disaggregation of revenue	The following table disaggregates revenue by timing of revenue recognition and is reconciled to reportable segment revenues as follows: Three Months Ended December 31, 2019 Three Months Ended December 31, 2018 Franchise Company-owned Franchise Company-owned (Dollars in thousands) Revenue recognized at a point in time: Service $ — $ 101,805 $ — $ 190,419 Product 16,864 27,119 17,818 43,831 Total revenue recognized at a point in time $ 16,864 $ 128,924 $ 17,818 $ 234,250 Revenue recognized over time: Royalty and other franchise fees $ 18,644 $ — $ 14,736 $ — Advertising fund fees 10,703 — 7,867 — Franchise rental income 33,630 — — — Total revenue recognized over time 62,977 — 22,603 — Total revenue $ 79,841 $ 128,924 $ 40,421 $ 234,250 Six Months Ended December 31, 2019 Six Months Ended December 31, 2018 Franchise Company-owned Franchise Company-owned (Dollars in thousands) Revenue recognized at a point in time: Service $ — $ 243,746 $ — $ 398,267 Product 29,969 59,670 33,447 85,793 Total revenue recognized at a point in time $ 29,969 $ 303,416 $ 33,447 $ 484,060 Revenue recognized over time: Royalty and other franchise fees $ 36,235 $ — $ 29,156 $ — Advertising fund fees 21,129 — 15,843 — Franchise rental income 65,054 — — — Total revenue recognized over time 122,418 — 44,999 — Total revenue $ 152,387 $ 303,416 $ 78,446 $ 484,060
Schedule of receivables, broker fees and deferred revenue	Information about receivables, broker fees and deferred revenue subject to the amended revenue recognition guidance is as follows: December 31, June 30, Balance Sheet Classification (Dollars in thousands) Receivables from contracts with customers, net $ 22,512 $ 23,210 Accounts receivable, net Broker fees $ 20,384 $ 17,819 Other assets Deferred revenue: Current Gift card liability $ 3,461 $ 3,050 Accrued expenses Deferred franchise fees unopened salons 217 193 Accrued expenses Deferred franchise fees open salons 5,042 4,164 Accrued expenses Total current deferred revenue $ 8,720 $ 7,407 Non-current Deferred franchise fees unopened salons $ 12,860 $ 15,173 Other non-current liabilities Deferred franchise fees open salons 31,555 24,194 Other non-current liabilities Total non-current deferred revenue $ 44,415 $ 39,367
Broker fees	The following table is a rollforward of the broker fee balance for the periods indicated (in thousands): Balance as of June, 30, 2019 $ 17,819 Additions 3,938 Amortization (1,341 ) Write-offs (32 ) Balance as of December, 31, 2019 $ 20,384
Estimated revenue expected to be recognized	Estimated revenue expected to be recognized in the future related to deferred franchise fees for open salons as of December 31, 2019 is as follows (in thousands): Remainder of 2020 $ 2,364 2021 4,930 2022 4,810 2023 4,633 2024 4,398 Thereafter 15,462 Total $ 36,597

SHAREHOLDERS' EQUITY_ (Tables)

SHAREHOLDERS' EQUITY: (Tables)	6 Months Ended
	Dec. 31, 2019
Stockholders' Equity Note [Abstract]
Share-based Equity Awards Granted	A summary of equity awards granted is as follows: For the Three Months Ended December 31, 2019 For the Six Months Ended December 31, 2019 Restricted stock units 7,564 193,640 Performance-based restricted stock units 22,694 73,712

INCOME TAXES_ (Tables)

INCOME TAXES: (Tables)	6 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Summary of income tax (expense) benefit and corresponding effective tax rates	A summary of income tax benefit (expense) and corresponding effective tax rates is as follows: For the Three Months Ended December 31, For the Six Months Ended December 31, 2019 2018 2019 2018 (Dollars in thousands) Income tax benefit (expense) $ 795 $ (454 ) $ 3,651 $ 260 Effective tax rate 7.7 % 52.1 % 13.4 % 85.0 %

CASH, CASH EQUIVALETS AND RES_2

CASH, CASH EQUIVALETS AND RESTRICTED CASH: (Tables)	6 Months Ended
	Dec. 31, 2019
Cash and Cash Equivalents [Abstract]
Schedule of cash and cash equivalents	The table below reconciles the cash and cash equivalents balances and restricted cash balances, recorded in other current assets from the unaudited Condensed Consolidated Balance Sheet to the amount of cash, cash equivalents and restricted cash reported on the unaudited Condensed Consolidated Statement of Cash flows: December 31, June 30, (Dollars in thousands) Cash and cash equivalents $ 49,783 $ 70,141 Restricted cash, included in Other current assets (1) 22,138 22,238 Total cash, cash equivalents and restricted cash $ 71,921 $ 92,379 _______________________________________________________________________________ (1) Restricted cash within other current assets primarily relates to consolidated advertising cooperatives funds which can only be used to settle obligations of the respective cooperatives and contractual obligations to collateralize the Company's self-insurance programs.
Schedule of restricted cash and cash equivalents	The table below reconciles the cash and cash equivalents balances and restricted cash balances, recorded in other current assets from the unaudited Condensed Consolidated Balance Sheet to the amount of cash, cash equivalents and restricted cash reported on the unaudited Condensed Consolidated Statement of Cash flows: December 31, June 30, (Dollars in thousands) Cash and cash equivalents $ 49,783 $ 70,141 Restricted cash, included in Other current assets (1) 22,138 22,238 Total cash, cash equivalents and restricted cash $ 71,921 $ 92,379 _______________________________________________________________________________ (1) Restricted cash within other current assets primarily relates to consolidated advertising cooperatives funds which can only be used to settle obligations of the respective cooperatives and contractual obligations to collateralize the Company's self-insurance programs.

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLES: (Tables)	6 Months Ended
	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of recorded goodwill	The table below contains details related to the Company's goodwill: Franchise Company-owned Consolidated (Dollars in thousands) Goodwill, net at June 30, 2019 $ 227,928 $ 117,790 $ 345,718 Translation rate adjustments 139 (73 ) 66 Derecognition related to sale of salon assets to franchisees (1) — (52,765 ) (52,765 ) Goodwill, net at December 31, 2019 $ 228,067 $ 64,952 $ 293,019 _______________________________________________________________________________ (1) Goodwill is derecognized for salons sold to franchisees with positive cash flows. The amount of goodwill derecognized is determined by a fraction (the numerator of which is the trailing-twelve months EBITDA of the salon being sold and the denominator of which is the estimated annualized EBITDA of the Company-owned reporting unit) that is applied to the total goodwill balance of the Company-owned reporting unit.
Schedule of other intangible assets	The table below presents other intangible assets: December 31, 2019 June 30, 2019 Cost (1) Accumulated Net Cost (1) Accumulated Net (Dollars in thousands) Amortized intangible assets: Brand assets and trade names $ 6,938 $ (3,786 ) $ 3,152 $ 6,909 $ (3,659 ) $ 3,250 Franchise agreements 9,817 (8,250 ) 1,567 9,783 (8,057 ) 1,726 Lease intangibles 13,495 (10,406 ) 3,089 13,490 (10,065 ) 3,425 Other 884 (533 ) 351 883 (523 ) 360 $ 31,134 $ (22,975 ) $ 8,159 $ 31,065 $ (22,304 ) $ 8,761 _______________________________________________________________________________ (1) The change in the gross carrying value and accumulated amortization of other intangible assets is impacted by foreign currency.

RIGHT OF USE ASSET AND LEASE _2

RIGHT OF USE ASSET AND LEASE LIABILITIES (Tables)	6 Months Ended
	Dec. 31, 2019
Leases [Abstract]
Schedule of Real Estate Taxes and Other Occupancy Expenses	For most leases, the Company is required to pay real estate taxes and other occupancy expenses. Total rent expense includes the following: For the Three Months Ended December 31, For the Six Months Ended December 31, 2019 2018 2019 2018 (Dollars in thousands) Minimum rent $ 16,937 $ 28,859 $ 36,498 58,774 Percentage rent based on sales 550 1,052 1,847 2,103 Real estate taxes and other expenses 3,008 4,731 6,414 9,743 $ 20,495 $ 34,642 $ 44,759 $ 70,620
Lessor, Future Operating Lease Commitments	As of December 31, 2019 , future operating lease commitments to be paid and received by the Company were as follows: Fiscal Year Leases for Franchise Salons Leases for Company-owned Salons Corporate Leases Total Operating Lease Payments Sublease Income To Be Received From Franchisees Net Rent Commitments Remainder of 2020 $ 59,771 $ 36,809 $ 335 $ 96,915 $ (59,771 ) $ 37,144 2021 113,224 64,907 1,781 179,912 (113,224 ) 66,688 2022 103,599 55,214 1,410 160,223 (103,599 ) 56,624 2023 93,725 48,589 1,447 143,761 (93,725 ) 50,036 2024 84,384 43,417 1,484 129,285 (84,384 ) 44,901 Thereafter 224,482 111,327 9,339 345,148 (224,482 ) 120,666 Total future obligations $ 679,185 $ 360,263 $ 15,796 $ 1,055,244 $ (679,185 ) $ 376,059 Less amounts representing interest 84,680 43,723 3,063 131,466 Present value of lease liabilities $ 594,505 316,540 12,733 923,778 Less current lease liabilities 96,249 59,218 687 156,154 Long-term lease liabilities $ 498,256 $ 257,322 $ 12,046 $ 767,624
Lessee, Future Operating Lease Commitments	As of December 31, 2019 , future operating lease commitments to be paid and received by the Company were as follows: Fiscal Year Leases for Franchise Salons Leases for Company-owned Salons Corporate Leases Total Operating Lease Payments Sublease Income To Be Received From Franchisees Net Rent Commitments Remainder of 2020 $ 59,771 $ 36,809 $ 335 $ 96,915 $ (59,771 ) $ 37,144 2021 113,224 64,907 1,781 179,912 (113,224 ) 66,688 2022 103,599 55,214 1,410 160,223 (103,599 ) 56,624 2023 93,725 48,589 1,447 143,761 (93,725 ) 50,036 2024 84,384 43,417 1,484 129,285 (84,384 ) 44,901 Thereafter 224,482 111,327 9,339 345,148 (224,482 ) 120,666 Total future obligations $ 679,185 $ 360,263 $ 15,796 $ 1,055,244 $ (679,185 ) $ 376,059 Less amounts representing interest 84,680 43,723 3,063 131,466 Present value of lease liabilities $ 594,505 316,540 12,733 923,778 Less current lease liabilities 96,249 59,218 687 156,154 Long-term lease liabilities $ 498,256 $ 257,322 $ 12,046 $ 767,624

FINANCING ARRANGEMENTS_ (Tables

FINANCING ARRANGEMENTS: (Tables)	6 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
Schedule of long-term debt	The Company’s long-term debt consists of the following: Revolving Credit Facility Maturity Date Interest Rate December 31, June 30, (Fiscal Year) (Dollars in thousands) Revolving credit facility 2023 3.65% $ 60,000 $ 90,000
Schedule of long-term financial liability	The Company’s long-term financing liabilities consists of the following: Maturity Date Interest Rate December 31, June 30, (Fiscal Year) (Dollars in thousands) Financial liability - Salt Lake City Distribution Center 2034 3.30% $ 17,055 $ 17,354 Financial liability - Chattanooga Distribution Center 2034 3.70% 11,430 11,556 Long- term financing liability $ 28,485 $ 28,910
Schedule of future lease payments due	As of December 31, 2019 , future lease payments due are as follows: Fiscal year Salt Lake City Distribution Center Chattanooga Distribution Center (Dollars in thousands) Remainder of 2020 $ 574 $ 403 2021 1,157 817 2022 1,171 829 2023 1,186 842 2024 1,200 854 Thereafter 11,899 9,282 Total $ 17,187 $ 13,027

FAIR VALUE MEASUREMENTS_ (Table

FAIR VALUE MEASUREMENTS: (Tables)	6 Months Ended
	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Schedule of fair value impairments	The following impairments were based on fair values using Level 3 inputs: For the Three Months Ended December 31, For the Six Months Ended December 31, 2019 2018 2019 2018 (Dollars in thousands) Long-lived assets $ 1,126 $ 472 $ 2,643 $ 2,303

SEGMENT INFORMATION_ (Tables)

SEGMENT INFORMATION: (Tables)	6 Months Ended
	Dec. 31, 2019
Segment Reporting [Abstract]
Schedule of reportable operating segment salons	The Company’s reportable operating segments consisted of the following salons: December 31, June 30, FRANCHISE SALONS: SmartStyle/Cost Cutters in Walmart Stores 969 615 Supercuts 2,493 2,340 Signature Style 1,156 766 Total North American salons 4,618 3,721 Total International salons (1) 172 230 Total Franchise salons 4,790 3,951 as a percent of total Company-owned and Franchise salons 67.8 % 56.0 % COMPANY-OWNED SALONS: SmartStyle/Cost Cutters in Walmart Stores 1,159 1,550 Supercuts 262 403 Signature Style 649 1,155 Mall-based (2) 207 — Total Company-owned salons 2,277 3,108 as a percent of total Company-owned and Franchise salons 32.2 % 44.0 % OWNERSHIP INTEREST LOCATIONS: Equity ownership interest locations 85 86 Grand Total, System-wide 7,152 7,145 ____________________________________ (1) Canadian and Puerto Rican salons are included in the North American salon totals. (2) The mall-based salons were acquired from TBG on December 31, 2019 resulting in no impact to the Statement of Operations for the three and six months ended December 31, 2019.
Schedule of summarized financial information of reportable operating segments	Financial information concerning the Company's reportable operating segments is shown in the following table: For the Three Months Ended December 31, 2019 Franchise Company-owned Corporate Consolidated (Dollars in thousands) Revenues: Service $ — $ 101,805 $ — $ 101,805 Product 16,864 27,119 — 43,983 Royalties and fees 29,347 — — 29,347 Franchise rental income 33,630 — — 33,630 Total revenue 79,841 128,924 — 208,765 Operating expenses: Cost of service — 67,358 — 67,358 Cost of product 13,072 14,186 — 27,258 Site operating expenses 10,704 15,626 — 26,330 General and administrative 8,976 7,547 16,168 32,691 Rent 401 19,374 720 20,495 Franchise rent expense 33,630 — — 33,630 Depreciation and amortization 210 5,938 1,599 7,747 TBG restructuring 722 — — 722 Total operating expenses 67,715 130,029 18,487 216,231 Operating income (loss) 12,126 (1,105 ) (18,487 ) (7,466 ) Other (expense) income: Interest expense — — (1,464 ) (1,464 ) Loss from sale of salon assets to franchisees, net — — (5,692 ) (5,692 ) Interest income and other, net — — 4,346 4,346 Income (loss) from continuing operations before income taxes $ 12,126 $ (1,105 ) $ (21,297 ) $ (10,276 ) For the Three Months Ended December 31, 2018 Franchise Company-owned Corporate Consolidated (Dollars in thousands) Revenues: Service $ — $ 190,419 $ — $ 190,419 Product 17,818 43,831 — 61,649 Royalties and fees 22,603 — — 22,603 Total revenue 40,421 234,250 — 274,671 Operating expenses: Cost of service — 114,931 — 114,931 Cost of product 14,449 21,901 — 36,350 Site operating expenses 7,867 27,696 — 35,563 General and administrative 9,466 14,198 22,172 45,836 Rent 184 34,258 200 34,642 Depreciation and amortization 215 6,728 1,957 8,900 Total operating expenses 32,181 219,712 24,329 276,222 Operating income (loss) 8,240 14,538 (24,329 ) (1,551 ) Other (expense) income: Interest expense — — (1,072 ) (1,072 ) Gain from sale of salon assets to franchisees, net — — 2,865 2,865 Interest income and other, net — — 629 629 Income (loss) from continuing operations before income taxes $ 8,240 $ 14,538 $ (21,907 ) $ 871 For the Six Months Ended December 31, 2019 Franchise Company-owned Corporate Consolidated (Dollars in thousands) Revenues: Service $ — $ 243,746 $ — $ 243,746 Product 29,969 59,670 — 89,639 Royalties and fees 57,364 — — 57,364 Franchise rental income 65,054 — — 65,054 Total revenue 152,387 303,416 — 455,803 Operating expenses: Cost of service — 157,840 — 157,840 Cost of product 23,352 30,233 — 53,585 Site operating expenses 21,130 38,142 — 59,272 General and administrative 17,333 17,697 38,286 73,316 Rent 591 43,163 1,005 44,759 Franchise rent expense 65,054 — — 65,054 Depreciation and amortization 370 12,045 4,712 17,127 TBG restructuring 2,222 — — 2,222 Total operating expenses 130,052 299,120 44,003 473,175 Operating income (loss) 22,335 4,296 (44,003 ) (17,372 ) Other (expense) income: Interest expense — — (2,903 ) (2,903 ) Loss from sale of salon assets to franchisees, net — — (11,552 ) (11,552 ) Interest income and other, net — — 4,517 4,517 Income (loss) from continuing operations before income taxes $ 22,335 $ 4,296 $ (53,941 ) $ (27,310 ) For the Six Months Ended December 31, 2018 Franchise Company-owned Corporate Consolidated (Dollars in thousands) Revenues: Service $ — $ 398,267 $ — $ 398,267 Product 33,447 85,793 — 119,240 Royalties and fees 44,999 — — 44,999 Total revenue 78,446 484,060 — 562,506 Operating expenses: Cost of service — 236,428 — 236,428 Cost of product 26,862 41,669 — 68,531 Site operating expenses 15,843 56,541 — 72,384 General and administrative 17,130 30,579 45,854 93,563 Rent 278 69,944 398 70,620 Depreciation and amortization 373 14,785 3,944 19,102 Total operating expenses 60,486 449,946 50,196 560,628 Operating income (loss) 17,960 34,114 (50,196 ) 1,878 Other (expense) income: Interest expense — — (2,078 ) (2,078 ) Loss from sale of salon assets to franchisees, net — — (1,095 ) (1,095 ) Interest income and other, net — — 989 989 Income (loss) from continuing operations before income taxes $ 17,960 34,114 $ (52,380 ) $ (306 )

BASIS OF PRESENTATION OF UNAU_3

BASIS OF PRESENTATION OF UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Goodwill (Details) $ in Thousands	3 Months Ended	6 Months Ended
	Dec. 31, 2019USD ($)	Dec. 31, 2019USD ($)	Jun. 30, 2019USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Franchise rental income	$ 33,630	$ 65,054
Goodwill	$ 293,019	$ 293,019	$ 345,718
Headroom Percent
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.20	0.20
Franchise
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Goodwill	$ 228,100	$ 228,100	227,900
Company-owned
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Goodwill	$ 65,000	$ 65,000	$ 117,800

BASIS OF PRESENTATION OF UNAU_4

BASIS OF PRESENTATION OF UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Non-Current Assets Held for Sale (Details) - USD ($) $ in Thousands	1 Months Ended	6 Months Ended
	Dec. 31, 2019	Dec. 31, 2019	Dec. 31, 2018	Jun. 30, 2019	Mar. 31, 2019	Nov. 30, 2018
Long Lived Assets Held-for-sale [Line Items]
Term of contract					10 years	15 years
Other assets	$ 0	$ 0		$ 5,276
Proceeds from sale of company headquarters	9,000	8,996	$ 0
Gain on sale of assets	4,000	3,990	$ 0
Land
Long Lived Assets Held-for-sale [Line Items]
Other assets	1,700	1,700
Building
Long Lived Assets Held-for-sale [Line Items]
Other assets	$ 3,600	$ 3,600

BASIS OF PRESENTATION OF UNAU_5

BASIS OF PRESENTATION OF UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Accounting Standards Recently Adopted by the Company (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Dec. 31, 2019	Dec. 31, 2019	Jul. 01, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Right of use asset	$ 911,948	$ 911,948
Operating lease liability	923,778	923,778
Franchise rental income	33,630	65,054
Rent expense	$ 33,600	$ 65,100
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Right of use asset			$ 980,800
Operating lease liability			$ 993,700

REVENUE RECOGNITION_ Revenue Re

REVENUE RECOGNITION: Revenue Recognized (Details)	6 Months Ended
	Dec. 31, 2019
Revenue recognized at a point in time
Disaggregation of Revenue [Line Items]
Performance obligations expected to be satisfied, expected timing	30 to 90 days
Revenue recognized over time
Disaggregation of Revenue [Line Items]
Performance obligations expected to be satisfied, expected timing	ten years

REVENUE RECOGNITION_ Disaggrega

REVENUE RECOGNITION: Disaggregation of Revenue by Timing (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Disaggregation of Revenue [Line Items]
Franchise rental income	$ 33,630		$ 65,054
Total revenues	208,765	$ 274,671	455,803	$ 562,506
Operating Segments | Franchise
Disaggregation of Revenue [Line Items]
Franchise rental income	33,630		65,054
Total revenues	79,841	40,421	152,387	78,446
Operating Segments | Company-owned
Disaggregation of Revenue [Line Items]
Franchise rental income	0		0
Total revenues	128,924	234,250	303,416	484,060
Service
Disaggregation of Revenue [Line Items]
Revenues	101,805	190,419	243,746	398,267
Service | Operating Segments | Franchise
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Service | Operating Segments | Company-owned
Disaggregation of Revenue [Line Items]
Revenues	101,805	190,419	243,746	398,267
Product
Disaggregation of Revenue [Line Items]
Revenues	43,983	61,649	89,639	119,240
Product | Operating Segments | Franchise
Disaggregation of Revenue [Line Items]
Revenues	16,864	17,818	29,969	33,447
Product | Operating Segments | Company-owned
Disaggregation of Revenue [Line Items]
Revenues	27,119	43,831	59,670	85,793
Royalties and fees
Disaggregation of Revenue [Line Items]
Revenues	29,347	22,603	57,364	44,999
Royalties and fees | Operating Segments | Franchise
Disaggregation of Revenue [Line Items]
Revenues	29,347	22,603	57,364	44,999
Royalties and fees | Operating Segments | Company-owned
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Revenue recognized at a point in time | Operating Segments | Franchise
Disaggregation of Revenue [Line Items]
Revenues	16,864	17,818	29,969	33,447
Revenue recognized at a point in time | Operating Segments | Company-owned
Disaggregation of Revenue [Line Items]
Revenues	128,924	234,250	303,416	484,060
Revenue recognized at a point in time | Service | Operating Segments | Franchise
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Revenue recognized at a point in time | Service | Operating Segments | Company-owned
Disaggregation of Revenue [Line Items]
Revenues	101,805	190,419	243,746	398,267
Revenue recognized at a point in time | Product | Operating Segments | Franchise
Disaggregation of Revenue [Line Items]
Revenues	16,864	17,818	29,969	33,447
Revenue recognized at a point in time | Product | Operating Segments | Company-owned
Disaggregation of Revenue [Line Items]
Revenues	27,119	43,831	59,670	85,793
Revenue recognized over time | Operating Segments | Franchise
Disaggregation of Revenue [Line Items]
Franchise rental income	33,630		65,054
Total revenues	62,977	22,603	122,418	44,999
Revenue recognized over time | Operating Segments | Company-owned
Disaggregation of Revenue [Line Items]
Franchise rental income	0		0
Total revenues	0	0	0	0
Revenue recognized over time | Royalties and fees | Operating Segments | Franchise
Disaggregation of Revenue [Line Items]
Revenues	18,644	14,736	36,235	29,156
Revenue recognized over time | Royalties and fees | Operating Segments | Company-owned
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Revenue recognized over time | Advertising fund fees | Operating Segments | Franchise
Disaggregation of Revenue [Line Items]
Revenues	10,703	7,867	21,129	15,843
Revenue recognized over time | Advertising fund fees | Operating Segments | Company-owned
Disaggregation of Revenue [Line Items]
Revenues	$ 0	$ 0	$ 0	$ 0

REVENUE RECOGNITION_ Receivable

REVENUE RECOGNITION: Receivables, Broker Fees and Deferred Revenue (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Jun. 30, 2019
Revenue from Contract with Customer [Abstract]
Receivables	$ 22,512	$ 23,210
Broker fees	20,384	17,819
Deferred revenue
Current	8,720	7,407
Non-current	44,415	39,367
Gift card liability
Deferred revenue
Current	3,461	3,050
Deferred franchise fees unopened salons
Deferred revenue
Current	217	193
Non-current	12,860	15,173
Deferred franchise fees open salons
Deferred revenue
Current	5,042	4,164
Non-current	$ 31,555	$ 24,194

REVENUE RECOGNITION_ Additional

REVENUE RECOGNITION: Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Jun. 30, 2019
Disaggregation of Revenue [Line Items]
Allowance for doubtful accounts	$ 1.9		$ 1.9		$ 2
Gift Cards
Disaggregation of Revenue [Line Items]
Revenues	0.7	$ 1.1	1.5	$ 2.2
Franchise Fees
Disaggregation of Revenue [Line Items]
Revenues	$ 1.3	$ 0.8	$ 2.4	$ 1.7

REVENUE RECOGNITION_ Broker Fee

REVENUE RECOGNITION: Broker Fee Balance (Details) $ in Thousands	6 Months Ended
	Dec. 31, 2019USD ($)
Change In Deferred Costs [Roll Forward]
Balance as of June, 30, 2019	$ 17,819
Additions	3,938
Amortization	(1,341)
Write-offs	(32)
Balance as of December, 31, 2019	$ 20,384

REVENUE RECOGNITION_ Future Est

REVENUE RECOGNITION: Future Estimated Expected Revenue (Details) $ in Thousands	Dec. 31, 2019USD ($)
Revenue from Contract with Customer [Abstract]
Performance obligations expected to be satisfied	$ 36,597
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
Revenue from Contract with Customer [Abstract]
Performance obligations expected to be satisfied	$ 2,364
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied, expected timing	6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-07-01
Revenue from Contract with Customer [Abstract]
Performance obligations expected to be satisfied	$ 4,930
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-07-01
Revenue from Contract with Customer [Abstract]
Performance obligations expected to be satisfied	$ 4,810
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01
Revenue from Contract with Customer [Abstract]
Performance obligations expected to be satisfied	$ 4,633
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01
Revenue from Contract with Customer [Abstract]
Performance obligations expected to be satisfied	$ 4,398
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01
Revenue from Contract with Customer [Abstract]
Performance obligations expected to be satisfied	$ 15,462
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied, expected timing

TBG RESTRUCTURING AND DISCONT_2

TBG RESTRUCTURING AND DISCONTINUED OPERATIONS: Additional Information (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2019USD ($)salon	Dec. 31, 2018USD ($)	Dec. 31, 2019USD ($)salon	Dec. 31, 2018USD ($)	Jun. 30, 2019salon	Oct. 31, 2017salon
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of stores | salon	7,152		7,152		7,145
Number of stores transferred | salon	207
Restructuring charges	$ 722	$ 0	$ 2,222	$ 0
Salon lease commitments	30,000		30,000
Reduction in salon commitments			11,000
North America | Facility Closing
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of stores | salon						858
TBG Mall Restructuring
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Restructuring charges	$ 700		$ 2,200

EARNINGS PER SHARE_ (Details)

EARNINGS PER SHARE: (Details) - shares	3 Months Ended		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Common stock equivalents included in the diluted earnings per share calculation (in shares)		859,598		903,107
Common Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Common stock equivalents included in the diluted earnings per share calculation (in shares)	1,322,308		1,338,634
Equity Based Compensation Awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Awards excluded from diluted earnings per share computation (in shares)	66,151	734,526	77,514	520,348

SHAREHOLDERS' EQUITY_ Equity Aw

SHAREHOLDERS' EQUITY: Equity Awards Granted (Details) - shares	3 Months Ended	6 Months Ended
	Dec. 31, 2019	Dec. 31, 2019
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock granted (in shares)	7,564	193,640
Performance-based restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock granted (in shares)	22,694	73,712

SHAREHOLDERS' EQUITY_ Stock-Bas

SHAREHOLDERS' EQUITY: Stock-Based Employee Compensation, Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation	$ 0.3	$ 2.2	$ 2.1	$ 4.6
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			3 years
Restricted stock units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			3 years
Restricted stock units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			5 years
Restricted stock units | Tranche 1
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage			33.33%
Restricted stock units | Tranche 2
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage			33.33%
Restricted stock units | Tranche 3
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage			33.33%
Performance-based restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Threshold trading days			50 days
Performance-based restricted stock units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			3 years
Performance-based restricted stock units | Tranche 1 | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage			200.00%

SHAREHOLDERS' EQUITY_ Share Rep

SHAREHOLDERS' EQUITY: Share Repurchases (Details) - USD ($) $ in Thousands, shares in Millions	3 Months Ended	6 Months Ended
	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Stockholders' Equity Note [Abstract]
Stock repurchased during period (in shares)		1.5
Stock repurchase program	$ 48,993	$ 26,356	$ 68,331
Remaining authorized repurchase amount		$ 54,600

INCOME TAXES_ Summary of Income

INCOME TAXES: Summary of Income Tax Benefit (expense) and corresponding effective tax rates (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Income tax benefit (expense)	$ 795	$ (454)	$ 3,651	$ 260
Effective tax rate	7.70%	52.10%	13.40%	85.00%

CASH, CASH EQUIVALETS AND RES_3

CASH, CASH EQUIVALETS AND RESTRICTED CASH: (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Jun. 30, 2019	Jun. 30, 2018
Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	$ 49,783	$ 70,141
Restricted cash, included in Other current assets	22,138	22,238
Total cash, cash equivalents and restricted cash	$ 71,921	$ 92,379	$ 148,774

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLES: Changes in Goodwill (Details) $ in Thousands	6 Months Ended
	Dec. 31, 2019USD ($)
Goodwill [Roll Forward]
Goodwill, net at June 30, 2019	$ 345,718
Translation rate adjustments	66
Derecognition related to sale of salon assets to franchisees	(52,765)
Goodwill, net at December 31, 2019	293,019
Franchise
Goodwill [Roll Forward]
Goodwill, net at June 30, 2019	227,928
Translation rate adjustments	139
Derecognition related to sale of salon assets to franchisees	0
Goodwill, net at December 31, 2019	228,067
Company-owned
Goodwill [Roll Forward]
Goodwill, net at June 30, 2019	117,790
Translation rate adjustments	(73)
Derecognition related to sale of salon assets to franchisees	(52,765)
Goodwill, net at December 31, 2019	$ 64,952

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLES: Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Jun. 30, 2019
Amortized intangible assets:
Cost	$ 31,134	$ 31,065
Accumulated Amortization	(22,975)	(22,304)
Net	8,159	8,761
Brand assets and trade names
Amortized intangible assets:
Cost	6,938	6,909
Accumulated Amortization	(3,786)	(3,659)
Net	3,152	3,250
Franchise agreements
Amortized intangible assets:
Cost	9,817	9,783
Accumulated Amortization	(8,250)	(8,057)
Net	1,567	1,726
Lease intangibles
Amortized intangible assets:
Cost	13,495	13,490
Accumulated Amortization	(10,406)	(10,065)
Net	3,089	3,425
Other
Amortized intangible assets:
Cost	884	883
Accumulated Amortization	(533)	(523)
Net	$ 351	$ 360

RIGHT OF USE ASSET AND LEASE _3

RIGHT OF USE ASSET AND LEASE LIABILITIES Narrative (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Dec. 31, 2019	Dec. 31, 2019	Mar. 31, 2019	Nov. 30, 2018
Lessor, Lease, Description [Line Items]
Lessee, term of contract			10 years	15 years
Lessor, term of contract	5 years	5 years
Franchise rental income	$ 33,630	$ 65,054
Rent expense	$ 33,600	$ 65,100
Weighted average remaining lease term	6 years 9 months 25 days	6 years 9 months 25 days
Weighted average discount rate	3.95%	3.95%
Minimum
Lessor, Lease, Description [Line Items]
Lessee, term of contract	1 year	1 year
Lessee, renewal term	5 years	5 years
Maximum
Lessor, Lease, Description [Line Items]
Lessee, term of contract	20 years	20 years
Lessee, renewal term	10 years	10 years
Franchisor
Lessor, Lease, Description [Line Items]
Rent expense	$ 33,630	$ 65,054

RIGHT OF USE ASSET AND LEASE _4

RIGHT OF USE ASSET AND LEASE LIABILITIES Real Estate Taxes and Other Occupancy Expenses (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Lessee, Lease, Description [Line Items]
Rent	$ 33,600		$ 65,100
Non-Franchise Lease
Lessee, Lease, Description [Line Items]
Minimum rent	16,937		36,498
Percentage rent based on sales	550		1,847
Real estate taxes and other expenses	3,008		6,414
Rent	$ 20,495	$ 34,642	$ 44,759	$ 70,620
Minimum rent		28,859		58,774
Percentage rent based on sales		1,052		2,103
Real estate taxes and other expenses		4,731		9,743
Rent		$ 34,642		$ 70,620

RIGHT OF USE ASSET AND LEASE _5

RIGHT OF USE ASSET AND LEASE LIABILITIES Future Operating Lease Commitments (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Jun. 30, 2019
Leases, Operating [Abstract]
Remainder of 2020	$ 96,915
2021	179,912
2022	160,223
2023	143,761
2024	129,285
Thereafter	345,148
Total future obligations	1,055,244
Less amounts representing interest	131,466
Present value of lease liabilities	923,778
Less current lease liabilities	156,154
Long-term lease liabilities	767,624	$ 0
Sublease Income To Be Received From Franchisees
Remainder of 2020	(59,771)
2021	(113,224)
2022	(103,599)
2023	(93,725)
2024	(84,384)
Thereafter	(224,482)
Total future obligations	(679,185)
Net Rent Commitments
Remainder of 2020	37,144
2021	66,688
2022	56,624
2023	50,036
2024	44,901
Thereafter	120,666
Total future obligations	376,059
Operating Segments | Franchise
Leases, Operating [Abstract]
Remainder of 2020	59,771
2021	113,224
2022	103,599
2023	93,725
2024	84,384
Thereafter	224,482
Total future obligations	679,185
Less amounts representing interest	84,680
Present value of lease liabilities	594,505
Less current lease liabilities	96,249
Long-term lease liabilities	498,256
Operating Segments | Company-owned
Leases, Operating [Abstract]
Remainder of 2020	36,809
2021	64,907
2022	55,214
2023	48,589
2024	43,417
Thereafter	111,327
Total future obligations	360,263
Less amounts representing interest	43,723
Present value of lease liabilities	316,540
Less current lease liabilities	59,218
Long-term lease liabilities	257,322
Unallocated Corporate
Leases, Operating [Abstract]
Remainder of 2020	335
2021	1,781
2022	1,410
2023	1,447
2024	1,484
Thereafter	9,339
Total future obligations	15,796
Less amounts representing interest	3,063
Present value of lease liabilities	12,733
Less current lease liabilities	687
Long-term lease liabilities	$ 12,046

FINANCING ARRANGEMENTS_ Schedul

FINANCING ARRANGEMENTS: Schedule of Long-term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Jun. 30, 2019
Debt Instrument [Line Items]
Long-term debt	$ 60,000	$ 90,000
Line of Credit | Revolving Credit Facility | Revolving credit facility
Debt Instrument [Line Items]
Interest rate percentage	3.65%
Long-term debt	$ 60,000	$ 90,000

FINANCING ARRANGEMENTS_ Revolvi

FINANCING ARRANGEMENTS: Revolving Credit Facility (Details) - USD ($)	Dec. 31, 2019	Jun. 30, 2019
Debt Instrument [Line Items]
Long-term debt	$ 60,000,000	$ 90,000,000
Line of Credit | Revolving Credit Facility | Revolving credit facility
Debt Instrument [Line Items]
Long-term debt	60,000,000	90,000,000
Maximum borrowing capacity	295,000,000
Unused borrowing capacity, amount	$ 213,500,000	183,500,000
Line of Credit | Letter of Credit | Revolving credit facility
Debt Instrument [Line Items]
Long-term line of credit		$ 21,500,000

FINANCING ARRANGEMENTS_ Sched_2

FINANCING ARRANGEMENTS: Schedule of Long-term Financial Liability (Details) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2019	Jun. 30, 2019
Debt Instrument [Line Items]
Long- term financing liability	$ 28,485	$ 28,910
Salt Lake City Distribution Center
Debt Instrument [Line Items]
Interest rate	3.30%
Long- term financing liability	$ 17,055	17,354
Chattanooga Distribution Center
Debt Instrument [Line Items]
Interest rate	3.70%
Long- term financing liability	$ 11,430	$ 11,556

FINANCING ARRANGEMENTS_ Sale an

FINANCING ARRANGEMENTS: Sale and Leaseback Transaction (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Dec. 31, 2019	Dec. 31, 2019	Mar. 31, 2019	Nov. 30, 2018
Debt Disclosure [Abstract]
Term of contract			10 years	15 years
Short-term financial liability	$ 0.9	$ 0.9
Weighted average lease term	14 years 1 month 6 days	14 years 1 month 6 days
Weighted average discount rate	3.46%	3.46%
Interest expense	$ 0.3	$ 0.5

FINANCING ARRANGEMENTS_ Sched_3

FINANCING ARRANGEMENTS: Schedule of Future Minimum Lease Payments (Details) $ in Thousands	Dec. 31, 2019USD ($)
Salt Lake City Distribution Center
Minimum Lease Payments, Sale Leaseback Transactions, Fiscal Year Maturity [Abstract]
Remainder of 2020	$ 574
2021	1,157
2022	1,171
2023	1,186
2024	1,200
Thereafter	11,899
Total	17,187
Chattanooga Distribution Center
Minimum Lease Payments, Sale Leaseback Transactions, Fiscal Year Maturity [Abstract]
Remainder of 2020	403
2021	817
2022	829
2023	842
2024	854
Thereafter	9,282
Total	$ 13,027

FAIR VALUE MEASUREMENTS_ Narrat

FAIR VALUE MEASUREMENTS: Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Assets and liabilities measured at fair value on a nonrecurring basis
Long-lived assets			$ 2,643	$ 2,303
Nonrecurring | Level 3
Assets and liabilities measured at fair value on a nonrecurring basis
Long-lived assets	$ 1,126	$ 472	$ 2,643	$ 2,303

SEGMENT INFORMATION_ Reportable

SEGMENT INFORMATION: Reportable Operating Segment Salons (Details) - salon	Dec. 31, 2019	Jun. 30, 2019
Franchisor Disclosure [Line Items]
Number of salons	7,152	7,145
Equity ownership interest locations
Franchisor Disclosure [Line Items]
Number of salons	85	86
Franchise
Franchisor Disclosure [Line Items]
Number of salons	4,790	3,951
Salons as a percent of total Company-owned and Franchise salons	67.80%	56.00%
Franchise | International
Franchisor Disclosure [Line Items]
Number of salons	172	230
Franchise | Total North America TBG mall locations | North American
Franchisor Disclosure [Line Items]
Number of salons	4,618	3,721
Franchise | SmartStyle/Cost Cutters in Walmart Stores
Franchisor Disclosure [Line Items]
Number of salons	969	615
Franchise | Supercuts
Franchisor Disclosure [Line Items]
Number of salons	2,493	2,340
Franchise | Signature Style
Franchisor Disclosure [Line Items]
Number of salons	1,156	766
Company-owned
Franchisor Disclosure [Line Items]
Number of salons	2,277	3,108
Salons as a percent of total Company-owned and Franchise salons	32.20%	44.00%
Company-owned | SmartStyle/Cost Cutters in Walmart Stores
Franchisor Disclosure [Line Items]
Number of salons	1,159	1,550
Company-owned | Supercuts
Franchisor Disclosure [Line Items]
Number of salons	262	403
Company-owned | Signature Style
Franchisor Disclosure [Line Items]
Number of salons	649	1,155
Company-owned | Mall-based
Franchisor Disclosure [Line Items]
Number of salons		0

SEGMENT INFORMATION_ Operating

SEGMENT INFORMATION: Operating Results (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Revenues:
Franchise rental income	$ 33,630		$ 65,054
Total revenues	208,765	$ 274,671	455,803	$ 562,506
Operating expenses:
Cost of service	67,358	114,931	157,840	236,428
Cost of product	27,258	36,350	53,585	68,531
Site operating expenses	26,330	35,563	59,272	72,384
General and administrative	32,691	45,836	73,316	93,563
Rent	33,600		65,100
Depreciation and amortization	7,747	8,900	17,127	19,102
TBG restructuring	722	0	2,222	0
Total operating expenses	216,231	276,222	473,175	560,628
Operating (loss) income	(7,466)	(1,551)	(17,372)	1,878
Other (expense) income:
Interest expense	(1,464)	(1,072)	(2,903)	(2,078)
(Loss) gain from sale of salon assets to franchisees, net	(5,692)	2,865	(11,552)	(1,095)
Interest income and other, net	4,346	629	4,517	989
(Loss) income from continuing operations before income taxes	(10,276)	871	(27,310)	(306)
Non-Franchise Lease
Operating expenses:
Rent	20,495	34,642	44,759	70,620
Franchisor
Operating expenses:
Rent	33,630		65,054
Operating Segments | Franchise
Revenues:
Franchise rental income	33,630		65,054
Total revenues	79,841	40,421	152,387	78,446
Operating expenses:
Cost of service	0	0	0	0
Cost of product	13,072	14,449	23,352	26,862
Site operating expenses	10,704	7,867	21,130	15,843
General and administrative	8,976	9,466	17,333	17,130
Depreciation and amortization	210	215	370	373
TBG restructuring	722		2,222
Total operating expenses	67,715	32,181	130,052	60,486
Operating (loss) income	12,126	8,240	22,335	17,960
Other (expense) income:
Interest expense	0	0	0	0
(Loss) gain from sale of salon assets to franchisees, net	0	0	0	0
Interest income and other, net	0	0	0	0
(Loss) income from continuing operations before income taxes	12,126	8,240	22,335	17,960
Operating Segments | Franchise | Non-Franchise Lease
Operating expenses:
Rent	401	184	591	278
Operating Segments | Franchise | Franchisor
Operating expenses:
Rent	33,630		65,054
Operating Segments | Company-owned
Revenues:
Franchise rental income	0		0
Total revenues	128,924	234,250	303,416	484,060
Operating expenses:
Cost of service	67,358	114,931	157,840	236,428
Cost of product	14,186	21,901	30,233	41,669
Site operating expenses	15,626	27,696	38,142	56,541
General and administrative	7,547	14,198	17,697	30,579
Depreciation and amortization	5,938	6,728	12,045	14,785
TBG restructuring	0		0
Total operating expenses	130,029	219,712	299,120	449,946
Operating (loss) income	(1,105)	14,538	4,296	34,114
Other (expense) income:
Interest expense	0	0	0	0
(Loss) gain from sale of salon assets to franchisees, net	0	0	0	0
Interest income and other, net	0	0	0	0
(Loss) income from continuing operations before income taxes	(1,105)	14,538	4,296	34,114
Operating Segments | Company-owned | Non-Franchise Lease
Operating expenses:
Rent	19,374	34,258	43,163	69,944
Operating Segments | Company-owned | Franchisor
Operating expenses:
Rent	0		0
Unallocated Corporate
Revenues:
Franchise rental income	0		0
Total revenues	0	0	0	0
Operating expenses:
Cost of service	0	0	0	0
Cost of product	0	0	0	0
Site operating expenses	0	0	0	0
General and administrative	16,168	22,172	38,286	45,854
Depreciation and amortization	1,599	1,957	4,712	3,944
TBG restructuring	0		0
Total operating expenses	18,487	24,329	44,003	50,196
Operating (loss) income	(18,487)	(24,329)	(44,003)	(50,196)
Other (expense) income:
Interest expense	(1,464)	(1,072)	(2,903)	(2,078)
(Loss) gain from sale of salon assets to franchisees, net	(5,692)	2,865	(11,552)	(1,095)
Interest income and other, net	4,346	629	4,517	989
(Loss) income from continuing operations before income taxes	(21,297)	(21,907)	(53,941)	(52,380)
Unallocated Corporate | Non-Franchise Lease
Operating expenses:
Rent	720	200	1,005	398
Unallocated Corporate | Franchisor
Operating expenses:
Rent	0		0
Service
Revenues:
Revenues	101,805	190,419	243,746	398,267
Service | Operating Segments | Franchise
Revenues:
Revenues	0	0	0	0
Service | Operating Segments | Company-owned
Revenues:
Revenues	101,805	190,419	243,746	398,267
Service | Unallocated Corporate
Revenues:
Revenues	0	0	0	0
Product
Revenues:
Revenues	43,983	61,649	89,639	119,240
Product | Operating Segments | Franchise
Revenues:
Revenues	16,864	17,818	29,969	33,447
Product | Operating Segments | Company-owned
Revenues:
Revenues	27,119	43,831	59,670	85,793
Product | Unallocated Corporate
Revenues:
Revenues	0	0	0	0
Royalties and fees
Revenues:
Revenues	29,347	22,603	57,364	44,999
Royalties and fees | Operating Segments | Franchise
Revenues:
Revenues	29,347	22,603	57,364	44,999
Royalties and fees | Operating Segments | Company-owned
Revenues:
Revenues	0	0	0	0
Royalties and fees | Unallocated Corporate
Revenues:
Revenues	$ 0	$ 0	$ 0	$ 0

SUBSEQUENT EVENTS_ (Details)

SUBSEQUENT EVENTS: (Details) $ in Millions	1 Months Ended
	Jan. 31, 2020USD ($)
Revolving credit facility | Line of Credit | Revolving Credit Facility | Subsequent Event
Subsequent Event [Line Items]
Borrowing under revolving credit facility	$ 30