Regis (RGS) 10-Q 18 Jun 20 2020 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Mar. 31, 2020	Jun. 12, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2020
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	3701 Wayzata Boulevard
Entity Address, City or Town	Minneapolis
Entity Address, State or Province	MN
Entity Address, Postal Zip Code	55416
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, $0.05 par value
Trading Symbol	RGS
Security Exchange Name	NYSE
Entity Common Stock, Shares Outstanding		35,624,174
Entity Central Index Key	0000716643
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEET (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2020	Jun. 30, 2019
Current assets:
Cash and cash equivalents	$ 241,037	$ 70,141
Receivables, net	27,602	30,143
Inventories	59,029	77,322
Other current assets	23,211	33,216
Total current assets	350,879	210,822
Property and equipment, net	65,880	78,090
Goodwill (Note 9)	226,666	345,718
Other intangibles, net (Note 9)	7,568	8,761
Right of use asset (Note 10)	861,569
Other assets	38,227	34,170
Non-current assets held for sale (Note 1)	0	5,276
Total assets	1,550,789	682,837
Current liabilities:
Accounts payable	39,120	47,532
Accrued expenses	43,475	80,751
Short-term lease liability (Note 10)	149,482
Total current liabilities	232,077	128,283
Long-term debt, net	273,000	90,000
Long-term lease liability (Note 10)	727,245	0
Long-term financing liabilities	28,233	28,910
Other non-current liabilities	92,698	111,399
Total liabilities	1,353,253	358,592
Commitments and contingencies (Note 7)
Shareholders’ equity:
Common stock, $0.05 par value; issued and outstanding 35,566,206 and 36,869,249 common shares at March 31, 2020 and June 30, 2019, respectively	1,778	1,843
Additional paid-in capital	21,186	47,152
Accumulated other comprehensive income	6,998	9,342
Retained earnings	167,574	265,908
Total shareholders’ equity	197,536	324,245
Total liabilities and shareholders’ equity	$ 1,550,789	$ 682,837

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEET (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2020	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)	35,566,206	36,869,249
Common stock outstanding (in shares)	35,566,206	36,869,249

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		9 Months Ended
		Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Revenues:
Franchise rental income		$ 31,821		$ 96,875
Total revenues		153,783	$ 258,343	609,586	$ 820,849
Operating expenses:
Site operating expenses		3,660	34,339	62,932	106,723
General and administrative		31,871	41,694	105,187	135,257
Rent		31,800		96,900
Depreciation and amortization		10,359	8,630	27,486	27,732
TBG mall location restructuring (Note 3)		146	20,711	2,368	20,711
Goodwill impairment		44,529	0	44,529	0
Total operating expenses		218,125	280,505	691,300	841,133
Operating loss		(64,342)	(22,162)	(81,714)	(20,284)
Other (expense) income:
Interest expense		(1,712)	(1,354)	(4,615)	(3,432)
(Loss) gain from sale of salon assets to franchisees, net		(10,208)	11,489	(21,760)	10,394
Interest income and other, net		(1,329)	464	3,188	1,453
Loss from continuing operations before income taxes		(77,591)	(11,563)	(104,901)	(11,869)
Income tax benefit (expense)		2,253	(3,248)	5,904	(2,988)
Loss from continuing operations		(75,338)	(14,811)	(98,997)	(14,857)
Income from discontinued operations, net of taxes (Note 3)		301	178	753	6,027
Net loss		$ (75,037)	$ (14,633)	$ (98,244)	$ (8,830)
Basic and diluted:
Loss from continuing operations (in dollars per share)		$ (2.10)	$ (0.37)	$ (2.75)	$ (0.35)
Income from discontinued operations (in dollars per share)		0.01	0	0.02	0.14
Net loss per share, basic and diluted (in dollars per share)	[1]	$ (2.10)	$ (0.36)	$ (2.73)	$ (0.21)
Weighted average common and common equivalent shares outstanding:
Basic and diluted (in shares)		35,815	40,314	35,958	42,900
Non-Franchise Lease
Operating expenses:
Rent		$ 19,243	$ 32,332	$ 64,002	$ 102,952
Franchisor
Operating expenses:
Rent		31,821		96,875
Service
Revenues:
Revenues		78,387	181,809	322,133	580,076
Operating expenses:
Cost of services and products		54,824	111,632	212,664	348,060
Product
Revenues:
Revenues		34,877	53,766	124,516	173,006
Operating expenses:
Cost of services and products		21,672	31,167	75,257	99,698
Royalties and fees
Revenues:
Revenues		$ 8,698	$ 22,768	$ 66,062	$ 67,767
[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 (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Statement of Comprehensive Income [Abstract]
Net loss	$ (75,037)	$ (14,633)	$ (98,244)	$ (8,830)
Foreign currency translation adjustments	(2,482)	905	(2,344)	(606)
Comprehensive loss	$ (77,519)	$ (13,728)	$ (100,588)	$ (9,436)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited) - 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	(8,830)				(8,830)
Foreign currency translation	(606)			(606)
Stock repurchase program (in shares)		(6,023,523)
Stock repurchase program	(106,252)	$ (301)	(105,951)
Exercise of SARs (in shares)		15,412
Exercise of SARs	(204)	$ 1	(205)
Stock-based compensation	7,065		7,065
Net restricted stock activity (in shares)		182,664
Net restricted stock activity	(1,821)	$ 9	(1,830)
Minority interest	20				20
Balance (in shares) at Mar. 31, 2019		39,433,124
Balance at Mar. 31, 2019	375,810	$ 1,972	93,515	9,050	271,273
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
Net loss	(14,633)				(14,633)
Foreign currency translation	905			905
Stock repurchase program (in shares)		(2,050,430)
Stock repurchase program	(37,920)	$ (102)	(37,818)
Exercise of SARs (in shares)		7,080
Exercise of SARs	(101)		(101)
Stock-based compensation	2,512		2,512
Net restricted stock activity (in shares)		4,006
Net restricted stock activity	(42)		(42)
Minority interest	79				79
Balance (in shares) at Mar. 31, 2019		39,433,124
Balance at Mar. 31, 2019	$ 375,810	$ 1,972	93,515	9,050	271,273
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	(98,244)				(98,244)
Foreign currency translation	$ (2,344)			(2,344)
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	2,114		2,114
Net restricted stock activity (in shares)		199,181
Net restricted stock activity	(1,817)	$ 10	(1,827)
Minority interest	$ (90)				(90)
Balance (in shares) at Mar. 31, 2020	35,566,206	35,566,206
Balance at Mar. 31, 2020	$ 197,536	$ 1,778	21,186	6,998	167,574
Balance (in shares) at Dec. 31, 2019		35,563,611
Balance at Dec. 31, 2019	275,061	$ 1,778	21,230	9,480	242,573
Net loss	(75,037)				(75,037)
Foreign currency translation	(2,482)			(2,482)
Stock-based compensation	(25)		(25)
Net restricted stock activity (in shares)		2,595
Net restricted stock activity	(19)		(19)
Minority interest	$ 38				38
Balance (in shares) at Mar. 31, 2020	35,566,206	35,566,206
Balance at Mar. 31, 2020	$ 197,536	$ 1,778	$ 21,186	$ 6,998	$ 167,574

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands		9 Months Ended
		Mar. 31, 2020	Mar. 31, 2019
Cash flows from operating activities:
Net loss		$ (98,244)	$ (8,830)
Adjustments to reconcile net (loss) to net cash used in operating activities:
Non-cash adjustments related to discontinued operations		(967)	(163)
Depreciation and amortization		23,635	24,727
Deferred income taxes		(6,590)	(6,034)
Gain from sale of company headquarters, net		(2,513)	0
Loss (gain) from sale of salon assets to franchisees, net		21,760	(10,394)
Non-cash TBG mall location restructuring charge		0	20,711
Goodwill impairment		44,529	0
Salon asset impairments		3,851	3,005
Stock-based compensation		2,114	7,065
Amortization of debt discount and financing costs		206	206
Other non-cash items affecting earnings		(442)	(492)
Changes in operating assets and liabilities, excluding the effects of asset sales	[1]	(38,360)	(50,074)
Net cash used in operating activities		(51,021)	(20,273)
Cash flows from investing activities:
Capital expenditures		(32,331)	(23,160)
Proceeds from sale of assets to franchisees		87,916	54,619
Costs associated with sale of salon assets to franchisees		(1,887)	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		62,694	56,076
Cash flows from financing activities:
Borrowings on revolving credit facility		213,000	0
Repayments of revolving credit facility		(30,000)	0
Repurchase of common stock		(28,246)	(105,364)
Taxes paid for shares withheld		(1,968)	(2,447)
Net proceeds from distribution center sale and leaseback transaction			18,068
Distribution center lease payments		(677)
Net cash provided by (used in) financing activities		152,109	(89,743)
Effect of exchange rate changes on cash and cash equivalents		(379)	5
Increase (decrease) in cash, cash equivalents, and restricted cash		163,403	(53,935)
Cash, cash equivalents and restricted cash:
Beginning of period		92,379	148,774
End of period		$ 255,782	$ 94,839
[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:	9 Months Ended
	Mar. 31, 2020
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 March 31, 2020 and for the three and nine months ended March 31, 2020 and 2019, reflect, in the opinion of management, all adjustments necessary to fairly state the consolidated financial position of the Company as of March 31, 2020 and its consolidated results of operations, comprehensive loss, 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. Impact of COVID-19 on Business Operations: During the period ended March 31, 2020, the global coronavirus pandemic ("COVID-19") had an adverse impact on operations, including the closure of all company-owned salons and almost all franchise locations in March 2020 due to government mandates. Salons continued to be closed until April 23, 2020 when franchise salons began re-opening slowly, as government, state and local restrictions eased. As of June 15, 2020 approximately 76% of franchise salons were open. Company-owned salons were closed through May 21, 2020 and are gradually re-opening. As of June 15, 2020, approximately 45% of company-owned salons were open. As salons re-open, the Company is taking additional measures across its portfolio of franchise and company-owned salons to facilitate customer and employee safety. As a result, COVID-19 has and will continue to negatively affect revenue and profitability. To offset the loss of revenue, in April 2020, the Company implemented a furlough program for a substantial majority of the workforce across the corporate office, field support, and distribution centers; and reductions in the pay for executives and other working employees. Despite actions taken to resume business operations, COVID-19, and the volatile regional and global economic conditions stemming from the pandemic, as well as reactions to future pandemics or resurgences of COVID-19, could potentially prolong and intensify the impact of the global crisis on our business. The economic disruption due to COVID-19 was determined to be a triggering event in the quarter and as a result, management assessed its long-term assets, including long-lived salon assets, right of use assets, goodwill and other intangibles for impairment. Impairments were recorded related to long-lived salon assets (Note 12) and goodwill (Notes 1 and 12). As the COVID-19 pandemic continues, management will reassess all long-term assets and further impairment may result. Due to the COVID-19 pandemic, the Company is relying on the Securities and Exchange Commission's Order under Section 36 of the Securities Exchange Act of 1934 Modifying Exemptions From the Reporting and Proxy Delivery Requirements for Public Companies dated March 25, 2020 (Release No. 34-88465) to extend the filing of this Quarterly Report. The Company is relying on the Order due to the limited availability of key Company personnel required to complete the Form 10-Q due to the Company's employee furlough program, as well as suggested and mandated social quarantining and work from home orders. Additionally, the Company's management team was not able to initially devote the requisite time and attention to the Form 10-Q, as it had to address the emergent business and operational issues resulting from COVID-19. Goodwill: At the end of the period ended March 31, 2020, the Company determined a triggering event occurred, resulting in quantitative impairment tests performed over the goodwill. This determination was made considering the reduced sales and profitability projections for the reporting units, driven by the COVID-19 pandemic and related economic disruption. The triggering events experienced in the third quarter impacted both reporting units of the business, Franchise and Company-owned. Due to the Company's emphasis on transitioning to a franchise platform, the Company engaged a third-party valuation specialist to perform an impairment analysis on the Franchise reporting unit of the business. Conversely, the Company-owned reporting unit is comprised of a portfolio of salons that the Company intends to sell to franchisees or close in the short-term as part of the transition to a fully-franchised model. As a result, the Company-owned reporting unit has a limited life which allows the Company to perform its own impairment analysis on the Company-owned reporting unit. For the goodwill impairment analysis, management utilized a combination of both a discounted cash flows approach and market approach to evaluate the Franchise reporting unit, and the discounted cash flows approach to evaluate the Company-owned reporting unit. The discounted cash flow models reflect management's assumptions regarding revenue growth rates, economic and market trends including deterioration from the current COVID-19 pandemic, cost structure, and other expectations about the anticipated short-term and long-term operating results of the reporting units. For the Franchise reporting unit, the discount rate of 13 percent and the terminal growth rate of 2.5 percent were also key assumptions utilized in the discounted cash flow. For the Company-owned reporting unit, proceeds from the sale of salons to franchisees and number of salon venditions were the other key assumptions utilized in its discounted cash flow. For the analysis performed as of March 31, 2020, management decreased the expected proceeds generated from the sale of salons to franchisees and increased the expected number of salon closures as compared to the analysis performed as of April 30, 2019. The decline in expected proceeds and increase in salon closings is due to the economic downturn resulting from the COVID-19 pandemic. The analysis also included substantially zero revenue in April and May 2020 and lower than previously expected revenue for the rest of calendar year 2020, which significantly reduced the expected cash flows. As a result of the impairment testing, the Franchise reporting unit, which has goodwill of $226.7 million, was determined to have a fair value that exceeded carrying value by approximately 50 percent. The Company-owned reporting unit was determined to have a carrying value in excess of its fair value, resulting in a goodwill impairment charge of $44.5 million. Prior to the COVID-19 pandemic, the Company had been derecognizing Company-owned goodwill as part of the calculation of gain or loss on the sale of salons to franchisees. In the three and nine months ended March 31, 2020, the Company derecognized $19.8 and $72.6 million of goodwill, respectively. The Company-owned reporting unit has no remaining goodwill, so there will be no further derecognition of Company-owned goodwill. Non-Current Assets Held for Sale: In March 2019, the Company announced that it had entered into a ten Accounting Standards Recently Adopted by the Company: Simplifying the Test for Goodwill Impairment The Company adopted ASU 2017-04, "Intangibles - Goodwill and Other (Topic 350)" for the interim impairment test performed due to the triggering event noted above, as of March 31, 2020. Under this accounting standard, the Company performed its interim impairment test and will perform its annual impairment test by comparing the fair value of a reporting unit to its carrying amount. The Company then records an impairment charge for the amount that the carrying amount exceeds the fair value. This eliminates Step 2 from the goodwill impairment test to simplify the subsequent measure of goodwill. 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 March 31, 2020 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 $31.8 and $96.9 million during the three and nine months ended March 31, 2020, 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:	9 Months Ended
	Mar. 31, 2020
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 March 31, 2020 Three Months Ended March 31, 2019 Franchise Company-owned Franchise Company-owned (Dollars in thousands) Revenue recognized at a point in time: Service $ — $ 78,387 $ — $ 181,809 Product 15,318 19,559 14,339 39,427 Total revenue recognized at a point in time $ 15,318 $ 97,946 $ 14,339 $ 221,236 Revenue recognized over time: Royalty and other franchise fees $ 16,487 $ — $ 14,339 $ — Advertising fund (refunds) fees (7,789) — 8,429 — Franchise rental income 31,821 — — — Total revenue recognized over time 40,519 — 22,768 — Total revenue $ 55,837 $ 97,946 $ 37,107 $ 221,236 Nine Months Ended March 31, 2020 Nine Months Ended March 31, 2019 Franchise Company-owned Franchise Company-owned (Dollars in thousands) Revenue recognized at a point in time: Service $ — $ 322,133 $ — $ 580,076 Product 45,287 79,229 47,786 125,220 Total revenue recognized at a point in time $ 45,287 $ 401,362 $ 47,786 $ 705,296 Revenue recognized over time: Royalty and other franchise fees $ 52,721 $ — $ 43,495 $ — Advertising fund (refunds) fees 13,341 — 24,272 — Franchise rental income 96,875 — — — Total revenue recognized over time 162,937 — 67,767 — Total revenue $ 208,224 $ 401,362 $ 115,553 $ 705,296 Information about receivables, broker fees and deferred revenue subject to the amended revenue recognition guidance is as follows: March 31, June 30, Balance Sheet Classification (Dollars in thousands) Receivables from contracts with customers, net $ 16,083 $ 23,210 Accounts receivable, net Broker fees $ 21,193 $ 17,819 Other assets Deferred revenue: Current Gift card liability $ 2,616 $ 3,050 Accrued expenses Deferred franchise fees unopened salons 44 193 Accrued expenses Deferred franchise fees open salons 5,466 4,164 Accrued expenses Total current deferred revenue $ 8,126 $ 7,407 Non-current Deferred franchise fees unopened salons $ 11,840 $ 15,173 Other non-current liabilities Deferred franchise fees open salons 33,821 24,194 Other non-current liabilities Total non-current deferred revenue $ 45,661 $ 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 March 31, 2020 and June 30, 2019, the balance in the allowance for doubtful accounts was $2.6 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 5,499 Amortization (2,092) Write-offs (33) Balance as of March 31, 2020 $ 21,193 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 March 31, 2020 and 2019 was $0.8 and $1.8 million, respectively, and for the nine months ended March 31, 2020 and 2019 was $2.3 and $4.0 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 March 31, 2020 and 2019 was $1.4 and $0.9 million, respectively, and for the nine months ended March 31, 2020 and 2019 was $3.8 and $2.6 million, respectively. Estimated revenue expected to be recognized in the future related to deferred franchise fees for open salons as of March 31, 2020 is as follows (in thousands): Remainder of 2020 $ 1,359 2021 5,348 2022 5,228 2023 5,051 2024 4,816 Thereafter 17,485 Total $ 39,287

TBG RESTRUCTURING AND DISCONTIN

TBG RESTRUCTURING AND DISCONTINUED OPERATIONS:	9 Months Ended
	Mar. 31, 2020
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 nine months ended March 31, 2020 and 2019. 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 included in the Condensed Consolidated Statement of Operations beginning in the third quarter. The assets acquired and liabilities assumed were not material to the Condensed Consolidated Balance Sheet. Professional fees and other restructuring related charges of $0.1 and $2.4 million in the three and nine months ended March 31, 2020, respectively, were recorded in the TBG restructuring line on the Condensed Consolidated Statement of Operations. As of March 31, 2020, prior to any mitigation efforts which may be available, the Company remains liable for up to approximately $26 million related to its mall-based salon lease commitments on the 190 salons that remain open, a $15 million reduction from June 30, 2019.

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
	Mar. 31, 2020
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 nine months ended March 31, 2020, there were 663,636 and 1,145,053, respectively, and for the three and nine months ended March 31, 2019 there were 1,023,038 and 1,006,589 common stock equivalents of dilutive common stock excluded in the diluted earnings per share calculations due to the net loss from continuing operations.

SHAREHOLDERS' EQUITY

SHAREHOLDERS' EQUITY	9 Months Ended
	Mar. 31, 2020
Stockholders' Equity Note [Abstract]
SHAREHOLDERS' EQUITY	SHAREHOLDERS’ EQUITY: Stock-Based Employee Compensation: During the three and nine months ended March 31, 2020, 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 March 31, 2020 For the Nine Months Ended March 31, 2020 Restricted stock units 7,451 201,091 Performance-based restricted stock units — 73,712 The RSUs granted to employees during the three and nine months ended March 31, 2020 vest in equal amounts over a three three five The PSUs granted to employees have a three Total compensation cost for stock-based payment arrangements totaling $0.0 and $2.5 million for the three months ended March 31, 2020 and 2019, respectively, and $2.1 and $7.1 million for the nine months ended March 31, 2020 and 2019, respectively, was recorded within general and administrative expense on the Condensed Consolidated Statement of Operations. The expense recorded in the three months ended March 31, 2020 was offset by the reversal of expense related to the downward adjustment of a PSU factor. Share Repurchases: During the nine months ended March 31, 2020, the Company repurchased 1.5 million shares for $26.4 million under a previously approved stock repurchase program. At March 31, 2020, $54.6 million remains outstanding under the approved stock repurchase program.

INCOME TAXES_

INCOME TAXES:	9 Months Ended
	Mar. 31, 2020
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 March 31, For the Nine Months Ended March 31, 2020 2019 2020 2019 (Dollars in thousands) Income tax benefit (expense) $ 2,253 $ (3,248) $ 5,904 $ (2,988) Effective tax rate 2.9 % (28.1 %) 5.6 % (25.2) % The recorded tax provisions and effective tax rates for the three and nine months ended March 31, 2020 were different than normally expected primarily due to the impact of the deferred tax valuation allowance. On March 27, 2020, the Coronavirus Aid, Relief and Economic Security Act (the "CARES Act") was enacted in response to the COVID-19 pandemic. The CARES Act included several significant business tax provisions that, among other items, eliminated the taxable income limit and granted businesses a five-year carryback for certain net operating losses ("NOLs"), accelerated refunds of previously generated corporate alternative minimum tax ("AMT") credits, temporarily loosened the business interest limitation under section 163(j) and corrected certain provisions in the Tax Cuts and Jobs Acts ("TCJA"). One of the technical corrections made to the TCJA through the CARES Act provisions modified NOLs resulting from accounting periods which straddled December 31, 2017. Such NOLs were originally deemed to have no carryback but an indefinite carryforward. As a result of the correction, the NOLs currently have a 2-year carryback and a 20-year carryforward and are considered definite-lived NOLs. This technical correction modified the Company's NOLs generated during its fiscal year end 2018 from indefinite-lived to definite-lived. As the Company has continued to maintain a valuation allowance against its definite-lived NOLs, the Company established a valuation allowance against the NOLs generated during its fiscal year 2018 and recorded a net tax expense of $14.7 million in continuing operations during the period ended March 31, 2020. Due to recent negative financial performance and cumulative losses incurred in recent years, the Company was no longer able to conclude that it was more likely than not that certain Canadian deferred tax assets would be fully realized, and therefore established a $0.4 million valuation allowance on the deferred tax assets during the period ended March 31, 2020. 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:	9 Months Ended
	Mar. 31, 2020
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. Regis is a defendant in two wage and hour lawsuits in California. The first, a class action in US District Court, alleges various violations of the California Labor Code, including but not limited to failure to pay wages, failure to permit rest breaks, failure to pay all wages due on termination of employment, waiting time penalties, failure to provide accurate wage statements and violation of the business and professions code. This case has preliminarily settled, pending approval of the court and class, for $2.1 million. The second, a class action filed in California Superior Court, alleges various violations of the California Labor Code as well as PAGA penalties. Barring successful objection from plaintiffs’ attorneys to the first class action, the second case will be subsumed into the first case’s settlement. As of June 30, 2019 and March 31, 2020, $1.5 and $2.1 million, respectively, was included within accrued expenses on the Condensed Consolidated Balance Sheet related to these class action lawsuits.

CASH, CASH EQUIVALENTS AND REST

CASH, CASH EQUIVALENTS AND RESTRICTED CASH:	9 Months Ended
	Mar. 31, 2020
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: March 31, June 30, (Dollars in thousands) Cash and cash equivalents $ 241,037 $ 70,141 Restricted cash, included in Other current assets (1) 14,745 22,238 Total cash, cash equivalents and restricted cash $ 255,782 $ 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:	9 Months Ended
	Mar. 31, 2020
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 (1,262) (660) (1,922) Derecognition related to sale of salon assets to franchisees (1) — (72,601) (72,601) Goodwill impairment — (44,529) (44,529) Goodwill, net at March 31, 2020 $ 226,666 $ — $ 226,666 _______________________________________________________________________________ (1) Prior to the impairment charge, goodwill was derecognized for salons sold to franchisees with positive cash flows. The amount of goodwill derecognized was 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 goodwill balance of the Company-owned reporting unit at the time of the sale. The table below presents other intangible assets: March 31, 2020 June 30, 2019 Cost (1) Accumulated Net Cost (1) Accumulated Net (Dollars in thousands) Amortized intangible assets: Brand assets and trade names $ 6,541 $ (3,632) $ 2,909 $ 6,909 $ (3,659) $ 3,250 Franchise agreements 9,356 (7,944) 1,412 9,783 (8,057) 1,726 Lease intangibles 13,426 (10,516) 2,910 13,490 (10,065) 3,425 Other 865 (528) 337 883 (523) 360 Total $ 30,188 $ (22,620) $ 7,568 $ 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	9 Months Ended
	Mar. 31, 2020
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 March 31, For the Nine Months Ended March 31, 2020 2019 2020 2019 (Dollars in thousands) Minimum rent $ 14,970 $ 26,325 $ 51,468 85,099 Percentage rent based on sales 298 1,373 2,145 3,476 Real estate taxes and other expenses 3,975 4,634 10,389 14,377 Total $ 19,243 $ 32,332 $ 64,002 $ 102,952 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 nine months ended March 31, 2020, franchise rental income and franchise rent expense were $31.8 and $96.9 million, respectively. For franchise and company-owned 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. Due to the COVID-19 triggering event, the Company assessed its ROU assets for impairment and determined that as of March 31, 2020, the ROU assets were not impaired. As the COVID-19 pandemic continues, the Company will continue to assess its ROU assets for impairment, which could have a material impact on the Company's results of operations. 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 6.86 years and the weighted-average discount rate was 3.95 percent for all salon operating leases as of March 31, 2020. As of March 31, 2020, 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 $ 31,959 $ 14,484 $ 150 $ 46,593 $ (31,959) $ 14,634 2021 121,831 51,700 1,781 175,312 (121,831) 53,481 2022 111,239 42,916 1,410 155,565 (111,239) 44,326 2023 100,687 37,374 1,447 139,508 (100,687) 38,821 2024 90,582 33,096 1,484 125,162 (90,582) 34,580 Thereafter 257,841 92,091 9,339 359,271 (257,841) 101,430 Total future obligations $ 714,139 $ 271,661 $ 15,611 $ 1,001,411 $ (714,139) $ 287,272 Less amounts representing interest 89,274 32,514 2,896 124,684 Present value of lease liabilities $ 624,865 $ 239,147 $ 12,715 $ 876,727 Less current lease liabilities 102,310 46,171 1,001 149,482 Long-term lease liabilities $ 522,555 $ 192,976 $ 11,714 $ 727,245
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 March 31, For the Nine Months Ended March 31, 2020 2019 2020 2019 (Dollars in thousands) Minimum rent $ 14,970 $ 26,325 $ 51,468 85,099 Percentage rent based on sales 298 1,373 2,145 3,476 Real estate taxes and other expenses 3,975 4,634 10,389 14,377 Total $ 19,243 $ 32,332 $ 64,002 $ 102,952 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 nine months ended March 31, 2020, franchise rental income and franchise rent expense were $31.8 and $96.9 million, respectively. For franchise and company-owned 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. Due to the COVID-19 triggering event, the Company assessed its ROU assets for impairment and determined that as of March 31, 2020, the ROU assets were not impaired. As the COVID-19 pandemic continues, the Company will continue to assess its ROU assets for impairment, which could have a material impact on the Company's results of operations. 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 6.86 years and the weighted-average discount rate was 3.95 percent for all salon operating leases as of March 31, 2020. As of March 31, 2020, 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 $ 31,959 $ 14,484 $ 150 $ 46,593 $ (31,959) $ 14,634 2021 121,831 51,700 1,781 175,312 (121,831) 53,481 2022 111,239 42,916 1,410 155,565 (111,239) 44,326 2023 100,687 37,374 1,447 139,508 (100,687) 38,821 2024 90,582 33,096 1,484 125,162 (90,582) 34,580 Thereafter 257,841 92,091 9,339 359,271 (257,841) 101,430 Total future obligations $ 714,139 $ 271,661 $ 15,611 $ 1,001,411 $ (714,139) $ 287,272 Less amounts representing interest 89,274 32,514 2,896 124,684 Present value of lease liabilities $ 624,865 $ 239,147 $ 12,715 $ 876,727 Less current lease liabilities 102,310 46,171 1,001 149,482 Long-term lease liabilities $ 522,555 $ 192,976 $ 11,714 $ 727,245

FINANCING ARRANGEMENTS_

FINANCING ARRANGEMENTS:	9 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
FINANCING ARRANGEMENTS	FINANCING ARRANGEMENTS: The Company’s long-term debt consists of the following: Revolving Credit Facility Maturity Date Interest Rate March 31, June 30, (Fiscal Year) (Dollars in thousands) Revolving credit facility 2023 3.90% $ 273,000 $ 90,000 At March 31, 2020, cash, cash equivalents and marketable securities totaled $241.0 million. As of March 31, 2020, the Company has $273.0 million of outstanding borrowings under a $295.0 million revolving credit facility. At March 31, 2020, 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 $0.5 million as of March 31, 2020. The Company increased its outstanding borrowings from December 31, 2019 to March 31, 2020 by making a draw on the credit facility of $183.0 million in March of 2020. The $183.0 million draw was done to increase the Company's cash position and preserve financial flexibility as the Company experienced significant business interruption due to the COVID-19 pandemic. As of March 31, 2020, the Company had cash, cash equivalents and restricted cash of $255.8 million and current liabilities of $232.1 million. In May of 2020, the Company amended its $295.0 million revolving credit facility that expires in March 2023. The amendment to the revolving credit facility provides relief for the maximum consolidated net leverage ratio covenant and the minimum fixed charge coverage ratio covenant. Without such amendment, the Company would have been in violation of the covenants as of March 31, 2020 which could have resulted in default. Under the new terms of the amendment, the Company is required to maintain a minimum liquidity of not less than $75.0 million, and provides the Company's lenders security in the Company's assets, adds additional guarantors and grants a first priority lien and security interest to the lenders in substantially all of the Company’s and the guarantors’ existing and future property. The amendment also increases the applicable interest rate margins and facility fees applicable to the loans and inserts a 1.25% LIBOR floor. The applicable margin for loans bearing interest at LIBOR ranges from 3.75%-4.25%, the applicable margin for loans bearing interest at the base rate ranges from 2.75%-3.25% and the facility fee ranges from 0.5%-0.75%, each depending on average utilization of the revolving line of credit. This amendment gives the Company flexibility throughout the uncertainty generated by the business disruption caused by the COVID-19 pandemic, as well as the Company's navigation through its strategic transformation. As of the filing date, the Company is in compliance with its amended debt covenants. The Company was not in compliance with its previous debt covenants as of March 31, 2020, which could have resulted in a default. This coupled with the closure of most of our salons for a period of time are conditions and events that could have created substantial doubt about our ability to continue as a going concern. We amended our debt agreement, which removed and amended certain covenants and requirements and also remedied the non-compliance item, in addition to taking other actions that have alleviated the substantial doubt about our ability to continue as a going concern. Sale and Leaseback Transaction The Company’s long-term financing liabilities consists of the following: Maturity Date Interest Rate March 31, June 30, (Fiscal Year) (Dollars in thousands) Financial liability - Salt Lake City Distribution Center 2034 3.30% $ 16,914 $ 17,354 Financial liability - Chattanooga Distribution Center 2034 3.70% 11,319 11,556 Long- term financing liability $ 28,233 $ 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 March 31, 2020, 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 13.9 years and the weighted-average discount rate was 3.46% for financing leases as of March 31, 2020. As of March 31, 2020, future lease payments due are as follows: Fiscal year Salt Lake City Distribution Center Chattanooga Distribution Center (Dollars in thousands) Remainder of 2020 $ 287 $ 201 2021 1,157 817 2022 1,171 829 2023 1,186 842 2024 1,200 854 Thereafter 11,899 9,282 Total $ 16,900 $ 12,825 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 $0.8 million for the three and nine months ended March 31, 2020.

FAIR VALUE MEASUREMENTS_

FAIR VALUE MEASUREMENTS:	9 Months Ended
	Mar. 31, 2020
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 March 31, 2020 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 March 31, For the Nine Months Ended March 31, 2020 2019 2020 2019 (Dollars in thousands) Goodwill $ 44,529 $ — $ 44,529 $ — Long-lived salon assets 1,208 702 3,851 3,005

SEGMENT INFORMATION_

SEGMENT INFORMATION:	9 Months Ended
	Mar. 31, 2020
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: March 31, June 30, FRANCHISE SALONS: SmartStyle/Cost Cutters in Walmart Stores 1,219 615 Supercuts 2,522 2,340 Signature Style 1,215 766 Total North American salons 4,956 3,721 Total International salons (1) 170 230 Total Franchise salons 5,126 3,951 as a percent of total Franchise and Company-owned salons 73.9 % 56.0 % Total Franchisees 955 907 COMPANY-OWNED SALONS: SmartStyle/Cost Cutters in Walmart Stores 873 1,550 Supercuts 217 403 Signature Style 535 1,155 Mall-based (2) 190 — Total Company-owned salons 1,815 3,108 as a percent of total Franchise and Company-owned salons 26.1 % 44.0 % OWNERSHIP INTEREST LOCATIONS: Equity ownership interest locations 85 86 Grand Total, System-wide 7,026 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. They are included in continuing operations under the Company-owned operating segment from January 1, 2020. As of March 31, 2020, the Franchise operating segment is comprised primarily of Supercuts ® , SmartStyle ® , Cost Cutters ® , First Choice Haircutters ® , Roosters ® and Magicuts ® concepts and the Company-owned operating segment is comprised primarily of SmartStyle ® , Supercuts ® , Cost Cutters ® , and other regional trade names. Financial information concerning the Company's reportable operating segments is shown in the following tables: For the Three Months Ended March 31, 2020 Franchise Company-owned Corporate Consolidated (Dollars in thousands) Revenues: Service $ — $ 78,387 $ — $ 78,387 Product 15,318 19,559 — 34,877 Royalties and fees (1) 8,698 — — 8,698 Franchise rental income 31,821 — — 31,821 Total revenue 55,837 97,946 — 153,783 Operating expenses: Cost of service — 54,824 — 54,824 Cost of product 11,452 10,220 — 21,672 Site operating expenses (1) (7,789) 11,449 — 3,660 General and administrative 8,657 4,566 18,648 31,871 Rent 176 18,163 904 19,243 Franchise rent expense 31,821 — — 31,821 Depreciation and amortization 292 9,799 268 10,359 TBG restructuring 146 — — 146 Goodwill impairment — 44,529 — 44,529 Total operating expenses 44,755 153,550 19,820 218,125 Operating income (loss) 11,082 (55,604) (19,820) (64,342) Other (expense) income: Interest expense — — (1,712) (1,712) Loss from sale of salon assets to franchisees, net — — (10,208) (10,208) Interest income and other, net — — (1,329) (1,329) Income (loss) from continuing operations before income taxes $ 11,082 $ (55,604) $ (33,069) $ (77,591) (1) Includes the refund of $14.9 million of previously collected cooperative adverting fees, which reduced franchise royalties and fees and site operating expense and had no net impact on the operating loss. For the Three Months Ended March 31, 2019 Franchise Company-owned Corporate Consolidated (Dollars in thousands) Revenues: Service $ — $ 181,809 $ — $ 181,809 Product 14,339 39,427 — 53,766 Royalties and fees 22,768 — — 22,768 Total revenue 37,107 221,236 — 258,343 Operating expenses: Cost of service — 111,632 — 111,632 Cost of product 11,175 19,992 — 31,167 Site operating expenses 8,445 25,894 — 34,339 General and administrative 7,526 14,505 19,663 41,694 Rent 190 31,964 178 32,332 Depreciation and amortization 240 6,519 1,871 8,630 TBG mall location restructuring 20,711 — — 20,711 Total operating expenses 48,287 210,506 21,712 280,505 Operating (loss) income (11,180) 10,730 (21,712) (22,162) Other (expense) income: Interest expense — — (1,354) (1,354) Gain from sale of salon assets to franchisees, net — — 11,489 11,489 Interest income and other, net — — 464 464 (Loss) income from continuing operations before income taxes $ (11,180) $ 10,730 $ (11,113) $ (11,563) For the Nine Months Ended March 31, 2020 Franchise Company-owned Corporate Consolidated (Dollars in thousands) Revenues: Service $ — $ 322,133 $ — $ 322,133 Product 45,287 79,229 — 124,516 Royalties and fees (1) 66,062 — — 66,062 Franchise rental income 96,875 — — 96,875 Total revenue 208,224 401,362 — 609,586 Operating expenses: Cost of service — 212,664 — 212,664 Cost of product 34,804 40,453 — 75,257 Site operating expenses (1) 13,341 49,591 — 62,932 General and administrative 25,990 22,263 56,934 105,187 Rent 767 61,326 1,909 64,002 Franchise rent expense 96,875 — — 96,875 Depreciation and amortization 662 21,844 4,980 27,486 TBG restructuring 2,368 — — 2,368 Goodwill impairment — 44,529 — 44,529 Total operating expenses 174,807 452,670 63,823 691,300 Operating income (loss) 33,417 (51,308) (63,823) (81,714) Other (expense) income: Interest expense — — (4,615) (4,615) Loss from sale of salon assets to franchisees, net — — (21,760) (21,760) Interest income and other, net — — 3,188 3,188 Income (loss) from continuing operations before income taxes $ 33,417 $ (51,308) $ (87,010) $ (104,901) (1) Includes the refund of $14.9 million of previously collected cooperative adverting costs, which reduced franchise royalties and fees and site operating expense and had no net impact on the operating loss. For the Nine Months Ended March 31, 2019 Franchise Company-owned Corporate Consolidated (Dollars in thousands) Revenues: Service $ — $ 580,076 $ — $ 580,076 Product 47,786 125,220 — 173,006 Royalties and fees 67,767 — — 67,767 Total revenue 115,553 705,296 — 820,849 Operating expenses: Cost of service — 348,060 — 348,060 Cost of product 38,037 61,661 — 99,698 Site operating expenses 24,288 82,435 — 106,723 General and administrative 24,656 45,084 65,517 135,257 Rent 468 101,908 576 102,952 Depreciation and amortization 613 21,304 5,815 27,732 TBG mall location restructuring 20,711 — — 20,711 Total operating expenses 108,773 660,452 71,908 841,133 Operating income (loss) 6,780 44,844 (71,908) (20,284) Other (expense) income: Interest expense — — (3,432) (3,432) Loss from sale of salon assets to franchisees, net — — 10,394 10,394 Interest income and other, net — — 1,453 1,453 Income (loss) from continuing operations before income taxes $ 6,780 44,844 $ (63,493) $ (11,869)

SUBSEQUENT EVENTS_

SUBSEQUENT EVENTS:	9 Months Ended
	Mar. 31, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENT: In May of 2020, the Company amended its $295.0 million revolving credit facility that expires in March 2023 (See Note 11).

BASIS OF PRESENTATION OF UNAU_2

BASIS OF PRESENTATION OF UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: (Policies)	9 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Accounting Standards Recently Adopted by the Company	Accounting Standards Recently Adopted by the Company: Simplifying the Test for Goodwill Impairment The Company adopted ASU 2017-04, "Intangibles - Goodwill and Other (Topic 350)" for the interim impairment test performed due to the triggering event noted above, as of March 31, 2020. Under this accounting standard, the Company performed its interim impairment test and will perform its annual impairment test by comparing the fair value of a reporting unit to its carrying amount. The Company then records an impairment charge for the amount that the carrying amount exceeds the fair value. This eliminates Step 2 from the goodwill impairment test to simplify the subsequent measure of goodwill. 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 March 31, 2020 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 $31.8 and $96.9 million during the three and nine months ended March 31, 2020, 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 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,
Fair Value Measurements	Assets and Liabilities Measured at Fair Value on a Recurring Basis As of March 31, 2020 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)	9 Months Ended
	Mar. 31, 2020
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 March 31, 2020 Three Months Ended March 31, 2019 Franchise Company-owned Franchise Company-owned (Dollars in thousands) Revenue recognized at a point in time: Service $ — $ 78,387 $ — $ 181,809 Product 15,318 19,559 14,339 39,427 Total revenue recognized at a point in time $ 15,318 $ 97,946 $ 14,339 $ 221,236 Revenue recognized over time: Royalty and other franchise fees $ 16,487 $ — $ 14,339 $ — Advertising fund (refunds) fees (7,789) — 8,429 — Franchise rental income 31,821 — — — Total revenue recognized over time 40,519 — 22,768 — Total revenue $ 55,837 $ 97,946 $ 37,107 $ 221,236 Nine Months Ended March 31, 2020 Nine Months Ended March 31, 2019 Franchise Company-owned Franchise Company-owned (Dollars in thousands) Revenue recognized at a point in time: Service $ — $ 322,133 $ — $ 580,076 Product 45,287 79,229 47,786 125,220 Total revenue recognized at a point in time $ 45,287 $ 401,362 $ 47,786 $ 705,296 Revenue recognized over time: Royalty and other franchise fees $ 52,721 $ — $ 43,495 $ — Advertising fund (refunds) fees 13,341 — 24,272 — Franchise rental income 96,875 — — — Total revenue recognized over time 162,937 — 67,767 — Total revenue $ 208,224 $ 401,362 $ 115,553 $ 705,296
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: March 31, June 30, Balance Sheet Classification (Dollars in thousands) Receivables from contracts with customers, net $ 16,083 $ 23,210 Accounts receivable, net Broker fees $ 21,193 $ 17,819 Other assets Deferred revenue: Current Gift card liability $ 2,616 $ 3,050 Accrued expenses Deferred franchise fees unopened salons 44 193 Accrued expenses Deferred franchise fees open salons 5,466 4,164 Accrued expenses Total current deferred revenue $ 8,126 $ 7,407 Non-current Deferred franchise fees unopened salons $ 11,840 $ 15,173 Other non-current liabilities Deferred franchise fees open salons 33,821 24,194 Other non-current liabilities Total non-current deferred revenue $ 45,661 $ 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 5,499 Amortization (2,092) Write-offs (33) Balance as of March 31, 2020 $ 21,193
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 March 31, 2020 is as follows (in thousands): Remainder of 2020 $ 1,359 2021 5,348 2022 5,228 2023 5,051 2024 4,816 Thereafter 17,485 Total $ 39,287

SHAREHOLDERS' EQUITY_ (Tables)

SHAREHOLDERS' EQUITY: (Tables)	9 Months Ended
	Mar. 31, 2020
Stockholders' Equity Note [Abstract]
Share-based Equity Awards Granted	A summary of equity awards granted is as follows: For the Three Months Ended March 31, 2020 For the Nine Months Ended March 31, 2020 Restricted stock units 7,451 201,091 Performance-based restricted stock units — 73,712

INCOME TAXES_ (Tables)

INCOME TAXES: (Tables)	9 Months Ended
	Mar. 31, 2020
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 March 31, For the Nine Months Ended March 31, 2020 2019 2020 2019 (Dollars in thousands) Income tax benefit (expense) $ 2,253 $ (3,248) $ 5,904 $ (2,988) Effective tax rate 2.9 % (28.1 %) 5.6 % (25.2) %

CASH, CASH EQUIVALENTS AND RE_2

CASH, CASH EQUIVALENTS AND RESTRICTED CASH: (Tables)	9 Months Ended
	Mar. 31, 2020
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: March 31, June 30, (Dollars in thousands) Cash and cash equivalents $ 241,037 $ 70,141 Restricted cash, included in Other current assets (1) 14,745 22,238 Total cash, cash equivalents and restricted cash $ 255,782 $ 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: March 31, June 30, (Dollars in thousands) Cash and cash equivalents $ 241,037 $ 70,141 Restricted cash, included in Other current assets (1) 14,745 22,238 Total cash, cash equivalents and restricted cash $ 255,782 $ 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)	9 Months Ended
	Mar. 31, 2020
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 (1,262) (660) (1,922) Derecognition related to sale of salon assets to franchisees (1) — (72,601) (72,601) Goodwill impairment — (44,529) (44,529) Goodwill, net at March 31, 2020 $ 226,666 $ — $ 226,666 _______________________________________________________________________________
Schedule of other intangible assets	The table below presents other intangible assets: March 31, 2020 June 30, 2019 Cost (1) Accumulated Net Cost (1) Accumulated Net (Dollars in thousands) Amortized intangible assets: Brand assets and trade names $ 6,541 $ (3,632) $ 2,909 $ 6,909 $ (3,659) $ 3,250 Franchise agreements 9,356 (7,944) 1,412 9,783 (8,057) 1,726 Lease intangibles 13,426 (10,516) 2,910 13,490 (10,065) 3,425 Other 865 (528) 337 883 (523) 360 Total $ 30,188 $ (22,620) $ 7,568 $ 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)	9 Months Ended
	Mar. 31, 2020
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 March 31, For the Nine Months Ended March 31, 2020 2019 2020 2019 (Dollars in thousands) Minimum rent $ 14,970 $ 26,325 $ 51,468 85,099 Percentage rent based on sales 298 1,373 2,145 3,476 Real estate taxes and other expenses 3,975 4,634 10,389 14,377 Total $ 19,243 $ 32,332 $ 64,002 $ 102,952
Lessor, Future Operating Lease Commitments	As of March 31, 2020, 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 $ 31,959 $ 14,484 $ 150 $ 46,593 $ (31,959) $ 14,634 2021 121,831 51,700 1,781 175,312 (121,831) 53,481 2022 111,239 42,916 1,410 155,565 (111,239) 44,326 2023 100,687 37,374 1,447 139,508 (100,687) 38,821 2024 90,582 33,096 1,484 125,162 (90,582) 34,580 Thereafter 257,841 92,091 9,339 359,271 (257,841) 101,430 Total future obligations $ 714,139 $ 271,661 $ 15,611 $ 1,001,411 $ (714,139) $ 287,272 Less amounts representing interest 89,274 32,514 2,896 124,684 Present value of lease liabilities $ 624,865 $ 239,147 $ 12,715 $ 876,727 Less current lease liabilities 102,310 46,171 1,001 149,482 Long-term lease liabilities $ 522,555 $ 192,976 $ 11,714 $ 727,245
Lessee, Future Operating Lease Commitments	As of March 31, 2020, 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 $ 31,959 $ 14,484 $ 150 $ 46,593 $ (31,959) $ 14,634 2021 121,831 51,700 1,781 175,312 (121,831) 53,481 2022 111,239 42,916 1,410 155,565 (111,239) 44,326 2023 100,687 37,374 1,447 139,508 (100,687) 38,821 2024 90,582 33,096 1,484 125,162 (90,582) 34,580 Thereafter 257,841 92,091 9,339 359,271 (257,841) 101,430 Total future obligations $ 714,139 $ 271,661 $ 15,611 $ 1,001,411 $ (714,139) $ 287,272 Less amounts representing interest 89,274 32,514 2,896 124,684 Present value of lease liabilities $ 624,865 $ 239,147 $ 12,715 $ 876,727 Less current lease liabilities 102,310 46,171 1,001 149,482 Long-term lease liabilities $ 522,555 $ 192,976 $ 11,714 $ 727,245

FINANCING ARRANGEMENTS_ (Tables

FINANCING ARRANGEMENTS: (Tables)	9 Months Ended
	Mar. 31, 2020
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 March 31, June 30, (Fiscal Year) (Dollars in thousands) Revolving credit facility 2023 3.90% $ 273,000 $ 90,000
Schedule of long-term financial liability	The Company’s long-term financing liabilities consists of the following: Maturity Date Interest Rate March 31, June 30, (Fiscal Year) (Dollars in thousands) Financial liability - Salt Lake City Distribution Center 2034 3.30% $ 16,914 $ 17,354 Financial liability - Chattanooga Distribution Center 2034 3.70% 11,319 11,556 Long- term financing liability $ 28,233 $ 28,910
Schedule of future lease payments due	As of March 31, 2020, future lease payments due are as follows: Fiscal year Salt Lake City Distribution Center Chattanooga Distribution Center (Dollars in thousands) Remainder of 2020 $ 287 $ 201 2021 1,157 817 2022 1,171 829 2023 1,186 842 2024 1,200 854 Thereafter 11,899 9,282 Total $ 16,900 $ 12,825

FAIR VALUE MEASUREMENTS_ (Table

FAIR VALUE MEASUREMENTS: (Tables)	9 Months Ended
	Mar. 31, 2020
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 March 31, For the Nine Months Ended March 31, 2020 2019 2020 2019 (Dollars in thousands) Goodwill $ 44,529 $ — $ 44,529 $ — Long-lived salon assets 1,208 702 3,851 3,005

SEGMENT INFORMATION_ (Tables)

SEGMENT INFORMATION: (Tables)	9 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
Schedule of reportable operating segment salons	The Company’s reportable operating segments consisted of the following salons: March 31, June 30, FRANCHISE SALONS: SmartStyle/Cost Cutters in Walmart Stores 1,219 615 Supercuts 2,522 2,340 Signature Style 1,215 766 Total North American salons 4,956 3,721 Total International salons (1) 170 230 Total Franchise salons 5,126 3,951 as a percent of total Franchise and Company-owned salons 73.9 % 56.0 % Total Franchisees 955 907 COMPANY-OWNED SALONS: SmartStyle/Cost Cutters in Walmart Stores 873 1,550 Supercuts 217 403 Signature Style 535 1,155 Mall-based (2) 190 — Total Company-owned salons 1,815 3,108 as a percent of total Franchise and Company-owned salons 26.1 % 44.0 % OWNERSHIP INTEREST LOCATIONS: Equity ownership interest locations 85 86 Grand Total, System-wide 7,026 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. They are included in continuing operations under the Company-owned operating segment from January 1, 2020.
Schedule of summarized financial information of reportable operating segments	Financial information concerning the Company's reportable operating segments is shown in the following tables: For the Three Months Ended March 31, 2020 Franchise Company-owned Corporate Consolidated (Dollars in thousands) Revenues: Service $ — $ 78,387 $ — $ 78,387 Product 15,318 19,559 — 34,877 Royalties and fees (1) 8,698 — — 8,698 Franchise rental income 31,821 — — 31,821 Total revenue 55,837 97,946 — 153,783 Operating expenses: Cost of service — 54,824 — 54,824 Cost of product 11,452 10,220 — 21,672 Site operating expenses (1) (7,789) 11,449 — 3,660 General and administrative 8,657 4,566 18,648 31,871 Rent 176 18,163 904 19,243 Franchise rent expense 31,821 — — 31,821 Depreciation and amortization 292 9,799 268 10,359 TBG restructuring 146 — — 146 Goodwill impairment — 44,529 — 44,529 Total operating expenses 44,755 153,550 19,820 218,125 Operating income (loss) 11,082 (55,604) (19,820) (64,342) Other (expense) income: Interest expense — — (1,712) (1,712) Loss from sale of salon assets to franchisees, net — — (10,208) (10,208) Interest income and other, net — — (1,329) (1,329) Income (loss) from continuing operations before income taxes $ 11,082 $ (55,604) $ (33,069) $ (77,591) (1) Includes the refund of $14.9 million of previously collected cooperative adverting fees, which reduced franchise royalties and fees and site operating expense and had no net impact on the operating loss. For the Three Months Ended March 31, 2019 Franchise Company-owned Corporate Consolidated (Dollars in thousands) Revenues: Service $ — $ 181,809 $ — $ 181,809 Product 14,339 39,427 — 53,766 Royalties and fees 22,768 — — 22,768 Total revenue 37,107 221,236 — 258,343 Operating expenses: Cost of service — 111,632 — 111,632 Cost of product 11,175 19,992 — 31,167 Site operating expenses 8,445 25,894 — 34,339 General and administrative 7,526 14,505 19,663 41,694 Rent 190 31,964 178 32,332 Depreciation and amortization 240 6,519 1,871 8,630 TBG mall location restructuring 20,711 — — 20,711 Total operating expenses 48,287 210,506 21,712 280,505 Operating (loss) income (11,180) 10,730 (21,712) (22,162) Other (expense) income: Interest expense — — (1,354) (1,354) Gain from sale of salon assets to franchisees, net — — 11,489 11,489 Interest income and other, net — — 464 464 (Loss) income from continuing operations before income taxes $ (11,180) $ 10,730 $ (11,113) $ (11,563) For the Nine Months Ended March 31, 2020 Franchise Company-owned Corporate Consolidated (Dollars in thousands) Revenues: Service $ — $ 322,133 $ — $ 322,133 Product 45,287 79,229 — 124,516 Royalties and fees (1) 66,062 — — 66,062 Franchise rental income 96,875 — — 96,875 Total revenue 208,224 401,362 — 609,586 Operating expenses: Cost of service — 212,664 — 212,664 Cost of product 34,804 40,453 — 75,257 Site operating expenses (1) 13,341 49,591 — 62,932 General and administrative 25,990 22,263 56,934 105,187 Rent 767 61,326 1,909 64,002 Franchise rent expense 96,875 — — 96,875 Depreciation and amortization 662 21,844 4,980 27,486 TBG restructuring 2,368 — — 2,368 Goodwill impairment — 44,529 — 44,529 Total operating expenses 174,807 452,670 63,823 691,300 Operating income (loss) 33,417 (51,308) (63,823) (81,714) Other (expense) income: Interest expense — — (4,615) (4,615) Loss from sale of salon assets to franchisees, net — — (21,760) (21,760) Interest income and other, net — — 3,188 3,188 Income (loss) from continuing operations before income taxes $ 33,417 $ (51,308) $ (87,010) $ (104,901) (1) Includes the refund of $14.9 million of previously collected cooperative adverting costs, which reduced franchise royalties and fees and site operating expense and had no net impact on the operating loss. For the Nine Months Ended March 31, 2019 Franchise Company-owned Corporate Consolidated (Dollars in thousands) Revenues: Service $ — $ 580,076 $ — $ 580,076 Product 47,786 125,220 — 173,006 Royalties and fees 67,767 — — 67,767 Total revenue 115,553 705,296 — 820,849 Operating expenses: Cost of service — 348,060 — 348,060 Cost of product 38,037 61,661 — 99,698 Site operating expenses 24,288 82,435 — 106,723 General and administrative 24,656 45,084 65,517 135,257 Rent 468 101,908 576 102,952 Depreciation and amortization 613 21,304 5,815 27,732 TBG mall location restructuring 20,711 — — 20,711 Total operating expenses 108,773 660,452 71,908 841,133 Operating income (loss) 6,780 44,844 (71,908) (20,284) Other (expense) income: Interest expense — — (3,432) (3,432) Loss from sale of salon assets to franchisees, net — — 10,394 10,394 Interest income and other, net — — 1,453 1,453 Income (loss) from continuing operations before income taxes $ 6,780 44,844 $ (63,493) $ (11,869)

BASIS OF PRESENTATION OF UNAU_3

BASIS OF PRESENTATION OF UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Impact of COVID-19 on Business Operations (Details) - Subsequent Event	Jun. 15, 2020
Franchise
Subsequent Event [Line Items]
Number of stores open	76.00%
Company-owned
Subsequent Event [Line Items]
Number of stores open	45.00%

BASIS OF PRESENTATION OF UNAU_4

BASIS OF PRESENTATION OF UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Goodwill (Details) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019	Jun. 30, 2019
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Goodwill	$ 226,666,000		$ 226,666,000		$ 345,718,000
Goodwill impairment	44,529,000	$ 0	44,529,000	$ 0
Derecognition related to sale of salon assets to franchisees			72,601,000
Franchise
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Goodwill	226,700,000		$ 226,700,000
Franchise | Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Goodwill, measurement input			13.00%
Franchise | Terminal growth rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Goodwill, measurement input			2.50%
Company-owned
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Goodwill	0		$ 0
Derecognition related to sale of salon assets to franchisees	$ 19,800,000		$ 72,600,000

BASIS OF PRESENTATION OF UNAU_5

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	3 Months Ended	9 Months Ended
	Dec. 31, 2019	Mar. 31, 2020	Mar. 31, 2020	Mar. 31, 2019	Jun. 30, 2019
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	$ 2,500		$ 2,513	$ 0
Incremental charges in Interest income and other, net		$ 1,500
Land
Long Lived Assets Held-for-sale [Line Items]
Other assets					1,700
Building
Long Lived Assets Held-for-sale [Line Items]
Other assets					$ 3,600

BASIS OF PRESENTATION OF UNAU_6

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	9 Months Ended
	Mar. 31, 2020	Mar. 31, 2020	Jul. 01, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Right of use asset	$ 861,569	$ 861,569
Operating lease liability	876,727	876,727
Franchise rental income	31,821	96,875
Rent expense	$ 31,800	$ 96,900
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)	9 Months Ended
	Mar. 31, 2020
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		9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Disaggregation of Revenue [Line Items]
Franchise rental income	$ 31,821		$ 96,875
Total revenues	153,783	$ 258,343	609,586	$ 820,849
Operating Segments | Franchise
Disaggregation of Revenue [Line Items]
Franchise rental income	31,821		96,875
Total revenues	55,837	37,107	208,224	115,553
Operating Segments | Company-owned
Disaggregation of Revenue [Line Items]
Franchise rental income	0		0
Total revenues	97,946	221,236	401,362	705,296
Service
Disaggregation of Revenue [Line Items]
Revenues	78,387	181,809	322,133	580,076
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	78,387	181,809	322,133	580,076
Product
Disaggregation of Revenue [Line Items]
Revenues	34,877	53,766	124,516	173,006
Product | Operating Segments | Franchise
Disaggregation of Revenue [Line Items]
Revenues	15,318	14,339	45,287	47,786
Product | Operating Segments | Company-owned
Disaggregation of Revenue [Line Items]
Revenues	19,559	39,427	79,229	125,220
Royalties and fees
Disaggregation of Revenue [Line Items]
Revenues	8,698	22,768	66,062	67,767
Royalties and fees | Operating Segments | Franchise
Disaggregation of Revenue [Line Items]
Revenues	8,698	22,768	66,062	67,767
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	15,318	14,339	45,287	47,786
Revenue recognized at a point in time | Operating Segments | Company-owned
Disaggregation of Revenue [Line Items]
Revenues	97,946	221,236	401,362	705,296
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	78,387	181,809	322,133	580,076
Revenue recognized at a point in time | Product | Operating Segments | Franchise
Disaggregation of Revenue [Line Items]
Revenues	15,318	14,339	45,287	47,786
Revenue recognized at a point in time | Product | Operating Segments | Company-owned
Disaggregation of Revenue [Line Items]
Revenues	19,559	39,427	79,229	125,220
Revenue recognized over time | Operating Segments | Franchise
Disaggregation of Revenue [Line Items]
Franchise rental income	31,821		96,875
Total revenues	40,519	22,768	162,937	67,767
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	16,487	14,339	52,721	43,495
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	(7,789)	8,429	13,341	24,272
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	Mar. 31, 2020	Jun. 30, 2019
Revenue from Contract with Customer [Abstract]
Receivables	$ 16,083	$ 23,210
Broker fees	21,193	17,819
Deferred revenue
Current	8,126	7,407
Non-current	45,661	39,367
Gift card liability
Deferred revenue
Current	2,616	3,050
Deferred franchise fees unopened salons
Deferred revenue
Current	44	193
Non-current	11,840	15,173
Deferred franchise fees open salons
Deferred revenue
Current	5,466	4,164
Non-current	$ 33,821	$ 24,194

REVENUE RECOGNITION_ Additional

REVENUE RECOGNITION: Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019	Jun. 30, 2019
Disaggregation of Revenue [Line Items]
Allowance for doubtful accounts	$ 2.6		$ 2.6		$ 2
Gift Cards
Disaggregation of Revenue [Line Items]
Revenues	0.8	$ 1.8	2.3	$ 4
Franchise Fees
Disaggregation of Revenue [Line Items]
Revenues	$ 1.4	$ 0.9	$ 3.8	$ 2.6

REVENUE RECOGNITION_ Broker Fee

REVENUE RECOGNITION: Broker Fee Balance (Details) $ in Thousands	9 Months Ended
	Mar. 31, 2020USD ($)
Change In Deferred Costs [Roll Forward]
Balance as of June 30, 2019	$ 17,819
Additions	5,499
Amortization	(2,092)
Write-offs	(33)
Balance as of March 31, 2020	$ 21,193

REVENUE RECOGNITION_ Future Est

REVENUE RECOGNITION: Future Estimated Expected Revenue (Details) $ in Thousands	Mar. 31, 2020USD ($)
Revenue from Contract with Customer [Abstract]
Performance obligations expected to be satisfied	$ 39,287
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-04-01
Revenue from Contract with Customer [Abstract]
Performance obligations expected to be satisfied	$ 1,359
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied, expected timing	3 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	$ 5,348
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	$ 5,228
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	$ 5,051
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	$ 4,816
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	$ 17,485
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			9 Months Ended
	Mar. 31, 2020USD ($)salon	Dec. 31, 2019salon	Mar. 31, 2019USD ($)	Mar. 31, 2020USD ($)salon	Mar. 31, 2019USD ($)	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	7,026			7,026		7,145
Number of stores transferred | salon		207
Restructuring charges	$ 146		$ 20,711	$ 2,368	$ 20,711
Salon lease commitments	26,000			26,000
Reduction in salon commitments				15,000
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	$ 100			$ 2,400

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - shares	3 Months Ended		9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Common stock equivalents included in the diluted earnings per share calculation (in shares)		1,023,038		1,006,589
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)	663,636		1,145,053
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)	670,997	608,944	174,698	542,329

SHAREHOLDERS' EQUITY_ Equity Aw

SHAREHOLDERS' EQUITY: Equity Awards Granted (Details) - shares	3 Months Ended	9 Months Ended
	Mar. 31, 2020	Mar. 31, 2020
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock granted (in shares)	7,451	201,091
Performance-based restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock granted (in shares)	0	73,712

SHAREHOLDERS' EQUITY_ Stock-Bas

SHAREHOLDERS' EQUITY: Stock-Based Employee Compensation, Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation	$ 0	$ 2.5	$ 2.1	$ 7.1
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	9 Months Ended
	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Stockholders' Equity Note [Abstract]
Stock repurchased during period (in shares)		1.5
Stock repurchase program	$ 37,920	$ 26,356	$ 106,252
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		9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Income tax benefit (expense)	$ 2,253	$ (3,248)	$ 5,904	$ (2,988)
Effective tax rate	2.90%	(28.10%)	5.60%	(25.20%)

INCOME TAXES - Additional Infor

INCOME TAXES - Additional Information (Details) $ in Millions	9 Months Ended
	Mar. 31, 2020USD ($)
Income Tax Disclosure [Abstract]
Income tax expense	$ 14.7
Valuation allowance	$ 0.4

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Additional Information (Details) - USD ($) $ in Millions	1 Months Ended
	Feb. 29, 2020	Mar. 31, 2020	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Class action lawsuit settlement	$ 2.1
Loss contingency accrual		$ 2.1	$ 1.5

CASH, CASH EQUIVALENTS AND RE_3

CASH, CASH EQUIVALENTS AND RESTRICTED CASH: (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018
Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	$ 241,037	$ 70,141
Restricted cash, included in Other current assets	14,745	22,238
Total cash, cash equivalents and restricted cash	$ 255,782	$ 92,379	$ 94,839	$ 148,774

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLES: Changes in Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Goodwill [Roll Forward]
Goodwill, net at June 30, 2019			$ 345,718
Translation rate adjustments			(1,922)
Derecognition related to sale of salon assets to franchisees			(72,601)
Goodwill impairment	$ (44,529)	$ 0	(44,529)	$ 0
Goodwill, net at March 31, 2020	226,666		226,666
Franchise
Goodwill [Roll Forward]
Goodwill, net at June 30, 2019			227,928
Translation rate adjustments			(1,262)
Derecognition related to sale of salon assets to franchisees			0
Goodwill impairment			0
Goodwill, net at March 31, 2020	226,666		226,666
Company-owned
Goodwill [Roll Forward]
Goodwill, net at June 30, 2019			117,790
Translation rate adjustments			(660)
Derecognition related to sale of salon assets to franchisees			(72,601)
Goodwill impairment			(44,529)
Goodwill, net at March 31, 2020	$ 0		$ 0

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLES: Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Jun. 30, 2019
Amortized intangible assets:
Cost	$ 30,188	$ 31,065
Accumulated Amortization	(22,620)	(22,304)
Net	7,568	8,761
Brand assets and trade names
Amortized intangible assets:
Cost	6,541	6,909
Accumulated Amortization	(3,632)	(3,659)
Net	2,909	3,250
Franchise agreements
Amortized intangible assets:
Cost	9,356	9,783
Accumulated Amortization	(7,944)	(8,057)
Net	1,412	1,726
Lease intangibles
Amortized intangible assets:
Cost	13,426	13,490
Accumulated Amortization	(10,516)	(10,065)
Net	2,910	3,425
Other
Amortized intangible assets:
Cost	865	883
Accumulated Amortization	(528)	(523)
Net	$ 337	$ 360

RIGHT OF USE ASSET AND LEASE _3

RIGHT OF USE ASSET AND LEASE LIABILITIES Narrative (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Mar. 31, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019
Lessor, Lease, Description [Line Items]
Lessee, term of contract			15 years	10 years
Lessor, term of contract	5 years	5 years
Franchise rental income	$ 31,821	$ 96,875
Rent expense	$ 31,800	$ 96,900
Weighted average remaining lease term	6 years 10 months 9 days	6 years 10 months 9 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

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		9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Lessee, Lease, Description [Line Items]
Rent	$ 31,800		$ 96,900
Non-Franchise Lease
Lessee, Lease, Description [Line Items]
Minimum rent	14,970		51,468
Percentage rent based on sales	298		2,145
Real estate taxes and other expenses	3,975		10,389
Rent	$ 19,243	$ 32,332	$ 64,002	$ 102,952
Minimum rent		26,325		85,099
Percentage rent based on sales		1,373		3,476
Real estate taxes and other expenses		4,634		14,377
Rent		$ 32,332		$ 102,952

RIGHT OF USE ASSET AND LEASE _5

RIGHT OF USE ASSET AND LEASE LIABILITIES Future Operating Lease Commitments (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Jun. 30, 2019
Leases, Operating [Abstract]
Remainder of 2020	$ 46,593
2021	175,312
2022	155,565
2023	139,508
2024	125,162
Thereafter	359,271
Total future obligations	1,001,411
Less amounts representing interest	124,684
Present value of lease liabilities	876,727
Less current lease liabilities	149,482
Long-term lease liabilities	727,245	$ 0
Sublease Income To Be Received From Franchisees
Remainder of 2020	(31,959)
2021	(121,831)
2022	(111,239)
2023	(100,687)
2024	(90,582)
Thereafter	(257,841)
Total future obligations	(714,139)
Net Rent Commitments
Remainder of 2020	14,634
2021	53,481
2022	44,326
2023	38,821
2024	34,580
Thereafter	101,430
Total future obligations	287,272
Operating Segments | Franchise
Leases, Operating [Abstract]
Remainder of 2020	31,959
2021	121,831
2022	111,239
2023	100,687
2024	90,582
Thereafter	257,841
Total future obligations	714,139
Less amounts representing interest	89,274
Present value of lease liabilities	624,865
Less current lease liabilities	102,310
Long-term lease liabilities	522,555
Operating Segments | Company-owned
Leases, Operating [Abstract]
Remainder of 2020	14,484
2021	51,700
2022	42,916
2023	37,374
2024	33,096
Thereafter	92,091
Total future obligations	271,661
Less amounts representing interest	32,514
Present value of lease liabilities	239,147
Less current lease liabilities	46,171
Long-term lease liabilities	192,976
Unallocated Corporate
Leases, Operating [Abstract]
Remainder of 2020	150
2021	1,781
2022	1,410
2023	1,447
2024	1,484
Thereafter	9,339
Total future obligations	15,611
Less amounts representing interest	2,896
Present value of lease liabilities	12,715
Less current lease liabilities	1,001
Long-term lease liabilities	$ 11,714

FINANCING ARRANGEMENTS_ Schedul

FINANCING ARRANGEMENTS: Schedule of Long-term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Jun. 30, 2019
Debt Instrument [Line Items]
Long-term debt	$ 273,000	$ 90,000
Line of Credit | Revolving Credit Facility | Revolving credit facility
Debt Instrument [Line Items]
Interest rate percentage	3.90%
Long-term debt	$ 273,000	$ 90,000

FINANCING ARRANGEMENTS_ Revolvi

FINANCING ARRANGEMENTS: Revolving Credit Facility (Details) - USD ($)	1 Months Ended
	May 31, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018
Debt Instrument [Line Items]
Cash, cash equivalents and marketable securities		$ 241,000,000
Long-term debt		273,000,000	$ 90,000,000
Cash, cash equivalents, and restricted cash		255,782,000	92,379,000	$ 94,839,000	$ 148,774,000
Current liabilities		232,077,000	128,283,000
Line of Credit | Revolving Credit Facility | Revolving credit facility
Debt Instrument [Line Items]
Long-term debt		273,000,000	$ 90,000,000
Maximum borrowing capacity		295,000,000
Unused borrowing capacity, amount		500,000
Draw on credit facility		183,000,000
Line of Credit | Revolving Credit Facility | Revolving credit facility | Subsequent Event
Debt Instrument [Line Items]
Minimum liquidity	$ 75,000,000
Line of Credit | Revolving Credit Facility | Revolving credit facility | Minimum | Subsequent Event
Debt Instrument [Line Items]
Facility fee	0.50%
Line of Credit | Revolving Credit Facility | Revolving credit facility | Maximum | Subsequent Event
Debt Instrument [Line Items]
Facility fee	0.75%
Line of Credit | Revolving Credit Facility | Revolving credit facility | LIBOR Floor | Subsequent Event
Debt Instrument [Line Items]
Variable fate	1.25%
Line of Credit | Revolving Credit Facility | Revolving credit facility | LIBOR | Minimum | Subsequent Event
Debt Instrument [Line Items]
Variable fate	3.75%
Line of Credit | Revolving Credit Facility | Revolving credit facility | LIBOR | Maximum | Subsequent Event
Debt Instrument [Line Items]
Variable fate	4.25%
Line of Credit | Revolving Credit Facility | Revolving credit facility | Base Rate | Minimum | Subsequent Event
Debt Instrument [Line Items]
Variable fate	2.75%
Line of Credit | Revolving Credit Facility | Revolving credit facility | Base Rate | Maximum | Subsequent Event
Debt Instrument [Line Items]
Variable fate	3.25%
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	9 Months Ended
	Mar. 31, 2020	Jun. 30, 2019
Debt Instrument [Line Items]
Long- term financing liability	$ 28,233	$ 28,910
Salt Lake City Distribution Center
Debt Instrument [Line Items]
Interest rate	3.30%
Long- term financing liability	$ 16,914	17,354
Chattanooga Distribution Center
Debt Instrument [Line Items]
Interest rate	3.70%
Long- term financing liability	$ 11,319	$ 11,556

FINANCING ARRANGEMENTS_ Sale an

FINANCING ARRANGEMENTS: Sale and Leaseback Transaction (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Mar. 31, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019
Debt Disclosure [Abstract]
Term of contract			15 years	10 years
Short-term financial liability	$ 0.9	$ 0.9
Weighted average lease term	13 years 10 months 24 days	13 years 10 months 24 days
Weighted average discount rate	3.46%	3.46%
Interest expense	$ 0.3	$ 0.8

FINANCING ARRANGEMENTS_ Sched_3

FINANCING ARRANGEMENTS: Schedule of Future Minimum Lease Payments (Details) $ in Thousands	Mar. 31, 2020USD ($)
Salt Lake City Distribution Center
Minimum Lease Payments, Sale Leaseback Transactions, Fiscal Year Maturity [Abstract]
Remainder of 2020	$ 287
2021	1,157
2022	1,171
2023	1,186
2024	1,200
Thereafter	11,899
Total	16,900
Chattanooga Distribution Center
Minimum Lease Payments, Sale Leaseback Transactions, Fiscal Year Maturity [Abstract]
Remainder of 2020	201
2021	817
2022	829
2023	842
2024	854
Thereafter	9,282
Total	$ 12,825

FAIR VALUE MEASUREMENTS_ Narrat

FAIR VALUE MEASUREMENTS: Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Assets and liabilities measured at fair value on a nonrecurring basis
Goodwill impairment	$ 44,529	$ 0	$ 44,529	$ 0
Long-lived salon assets			3,851	3,005
Nonrecurring | Level 3
Assets and liabilities measured at fair value on a nonrecurring basis
Goodwill impairment	44,529	0	44,529	0
Long-lived salon assets	$ 1,208	$ 702	$ 3,851	$ 3,005

SEGMENT INFORMATION_ Reportable

SEGMENT INFORMATION: Reportable Operating Segment Salons (Details)	Mar. 31, 2020salonfranchisee	Jun. 30, 2019salonfranchisee
Franchisor Disclosure [Line Items]
Number of salons	7,026	7,145
Total Franchisees | franchisee	955	907
Equity ownership interest locations
Franchisor Disclosure [Line Items]
Number of salons	85	86
Franchise
Franchisor Disclosure [Line Items]
Number of salons	5,126	3,951
Salons as a percent of total Company-owned and Franchise salons	73.90%	56.00%
Franchise | International
Franchisor Disclosure [Line Items]
Number of salons	170	230
Franchise | Total North America salons | North American
Franchisor Disclosure [Line Items]
Number of salons	4,956	3,721
Franchise | SmartStyle/Cost Cutters in Walmart Stores
Franchisor Disclosure [Line Items]
Number of salons	1,219	615
Franchise | Supercuts
Franchisor Disclosure [Line Items]
Number of salons	2,522	2,340
Franchise | Signature Style
Franchisor Disclosure [Line Items]
Number of salons	1,215	766
Company-owned
Franchisor Disclosure [Line Items]
Number of salons	1,815	3,108
Salons as a percent of total Company-owned and Franchise salons	26.10%	44.00%
Company-owned | SmartStyle/Cost Cutters in Walmart Stores
Franchisor Disclosure [Line Items]
Number of salons	873	1,550
Company-owned | Supercuts
Franchisor Disclosure [Line Items]
Number of salons	217	403
Company-owned | Signature Style
Franchisor Disclosure [Line Items]
Number of salons	535	1,155
Company-owned | Mall-based
Franchisor Disclosure [Line Items]
Number of salons	190	0

SEGMENT INFORMATION_ Operating

SEGMENT INFORMATION: Operating Results (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Revenues:
Franchise rental income	$ 31,821		$ 96,875
Total revenues	153,783	$ 258,343	609,586	$ 820,849
Operating expenses:
Site operating expenses	3,660	34,339	62,932	106,723
General and administrative	31,871	41,694	105,187	135,257
Rent	31,800		96,900
Depreciation and amortization	10,359	8,630	27,486	27,732
TBG restructuring	146	20,711	2,368	20,711
Goodwill impairment	44,529	0	44,529	0
Total operating expenses	218,125	280,505	691,300	841,133
Operating loss	(64,342)	(22,162)	(81,714)	(20,284)
Other (expense) income:
Interest expense	(1,712)	(1,354)	(4,615)	(3,432)
(Loss) gain from sale of salon assets to franchisees, net	(10,208)	11,489	(21,760)	10,394
Interest income and other, net	(1,329)	464	3,188	1,453
Loss from continuing operations before income taxes	(77,591)	(11,563)	(104,901)	(11,869)
Cooperative advertising income	14,900		14,900
Cooperative advertising expense	14,900		14,900
Non-Franchise Lease
Operating expenses:
Rent	19,243	32,332	64,002	102,952
Franchisor
Operating expenses:
Rent	31,821		96,875
Franchise
Operating expenses:
Goodwill impairment			0
Company-owned
Operating expenses:
Goodwill impairment			44,529
Operating Segments | Franchise
Revenues:
Franchise rental income	31,821		96,875
Total revenues	55,837	37,107	208,224	115,553
Operating expenses:
Site operating expenses	(7,789)	8,445	13,341	24,288
General and administrative	8,657	7,526	25,990	24,656
Depreciation and amortization	292	240	662	613
TBG restructuring	146	20,711	2,368	20,711
Goodwill impairment	0		0
Total operating expenses	44,755	48,287	174,807	108,773
Operating loss	11,082	(11,180)	33,417	6,780
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 from continuing operations before income taxes	11,082	(11,180)	33,417	6,780
Operating Segments | Franchise | Non-Franchise Lease
Operating expenses:
Rent	176	190	767	468
Operating Segments | Franchise | Franchisor
Operating expenses:
Rent	31,821		96,875
Operating Segments | Company-owned
Revenues:
Franchise rental income	0		0
Total revenues	97,946	221,236	401,362	705,296
Operating expenses:
Site operating expenses	11,449	25,894	49,591	82,435
General and administrative	4,566	14,505	22,263	45,084
Depreciation and amortization	9,799	6,519	21,844	21,304
TBG restructuring	0	0	0	0
Goodwill impairment	44,529		44,529
Total operating expenses	153,550	210,506	452,670	660,452
Operating loss	(55,604)	10,730	(51,308)	44,844
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 from continuing operations before income taxes	(55,604)	10,730	(51,308)	44,844
Operating Segments | Company-owned | Non-Franchise Lease
Operating expenses:
Rent	18,163	31,964	61,326	101,908
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:
Site operating expenses	0	0	0	0
General and administrative	18,648	19,663	56,934	65,517
Depreciation and amortization	268	1,871	4,980	5,815
TBG restructuring	0	0	0	0
Goodwill impairment	0		0
Total operating expenses	19,820	21,712	63,823	71,908
Operating loss	(19,820)	(21,712)	(63,823)	(71,908)
Other (expense) income:
Interest expense	(1,712)	(1,354)	(4,615)	(3,432)
(Loss) gain from sale of salon assets to franchisees, net	(10,208)	11,489	(21,760)	10,394
Interest income and other, net	(1,329)	464	3,188	1,453
Loss from continuing operations before income taxes	(33,069)	(11,113)	(87,010)	(63,493)
Unallocated Corporate | Non-Franchise Lease
Operating expenses:
Rent	904	178	1,909	576
Unallocated Corporate | Franchisor
Operating expenses:
Rent	0		0
Service
Revenues:
Revenues	78,387	181,809	322,133	580,076
Operating expenses:
Cost of services and products	54,824	111,632	212,664	348,060
Service | Operating Segments | Franchise
Revenues:
Revenues	0	0	0	0
Operating expenses:
Cost of services and products	0	0	0	0
Service | Operating Segments | Company-owned
Revenues:
Revenues	78,387	181,809	322,133	580,076
Operating expenses:
Cost of services and products	54,824	111,632	212,664	348,060
Service | Unallocated Corporate
Revenues:
Revenues	0	0	0	0
Operating expenses:
Cost of services and products	0	0	0	0
Product
Revenues:
Revenues	34,877	53,766	124,516	173,006
Operating expenses:
Cost of services and products	21,672	31,167	75,257	99,698
Product | Operating Segments | Franchise
Revenues:
Revenues	15,318	14,339	45,287	47,786
Operating expenses:
Cost of services and products	11,452	11,175	34,804	38,037
Product | Operating Segments | Company-owned
Revenues:
Revenues	19,559	39,427	79,229	125,220
Operating expenses:
Cost of services and products	10,220	19,992	40,453	61,661
Product | Unallocated Corporate
Revenues:
Revenues	0	0	0	0
Operating expenses:
Cost of services and products	0	0	0	0
Royalties and fees
Revenues:
Revenues	8,698	22,768	66,062	67,767
Royalties and fees | Operating Segments | Franchise
Revenues:
Revenues	8,698	22,768	66,062	67,767
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)	Mar. 31, 2020USD ($)
Revolving credit facility | Line of Credit | Revolving Credit Facility
Subsequent Event [Line Items]
Maximum borrowing capacity	$ 295,000,000