Regis (RGS) 10-Q 3 Feb 21 2021 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Dec. 31, 2020	Jan. 29, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 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	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		35,787,227
Entity Central Index Key	0000716643
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEET (Unaudited) - USD ($) $ in Thousands	Dec. 31, 2020	Jun. 30, 2020
Current assets:
Cash and cash equivalents	$ 50,850	$ 113,667
Receivables, net	31,185	31,030
Inventories	51,483	62,597
Other current assets	17,226	19,138
Total current assets	150,744	226,432
Property and equipment, net	43,579	57,176
Goodwill (Note 9)	228,950	227,457
Other intangibles, net	4,532	4,579
Right of use asset (Note 10)	637,108	786,216
Other assets	40,237	40,934
Total assets	1,105,150	1,342,794
Current liabilities:
Accounts payable	36,922	50,918
Accrued expenses	49,277	48,825
Short-term lease liability (Note 10)	127,649	137,271
Total current liabilities	213,848	237,014
Long-term debt, net (Note 11)	177,500	177,500
Long-term lease liability (Note 10)	540,930	680,454
Long-term financing liabilities (Note 11)	27,640	27,981
Other non-current liabilities	86,784	94,142
Total liabilities	1,046,702	1,217,091
Commitments and contingencies (Note 7)
Shareholders’ equity:
Common stock, $0.05 par value; issued and outstanding 35,768,086 and 35,625,716 common shares at December 31, 2020 and June 30, 2020, respectively	1,788	1,781
Additional paid-in capital	22,076	22,011
Accumulated other comprehensive income	8,786	7,449
Retained earnings	25,798	94,462
Total shareholders’ equity	58,448	125,703
Total liabilities and shareholders’ equity	$ 1,105,150	$ 1,342,794

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEET (Unaudited) (Parenthetical) - $ / shares	Dec. 31, 2020	Jun. 30, 2020
Statement of Financial Position [Abstract]
Common stock par value (in dollars per share)	$ 0.05	$ 0.05
Common stock issued (in shares)	35,768,086	35,625,716
Common stock outstanding (in shares)	35,768,086	35,625,716

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		6 Months Ended
		Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Revenues:
Franchise rental income		$ 32,285	$ 33,630	$ 64,568	$ 65,054
Total revenues		104,320	208,765	215,716	455,803
Operating expenses:
Site operating expenses		10,350	26,330	23,589	59,272
General and administrative		26,690	32,691	52,837	73,316
Rent		32,300	33,600	64,600	65,100
Depreciation and amortization		6,388	7,747	13,764	17,127
Long-lived asset impairment		3,160	0	8,984	0
TBG mall location restructuring (Note 3)		0	722	0	2,222
Total operating expenses		131,075	216,231	274,061	473,175
Operating loss		(26,755)	(7,466)	(58,345)	(17,372)
Other (expense) income:
Interest expense		(3,701)	(1,464)	(7,463)	(2,903)
Loss from sale of salon assets to franchisees, net		(3,226)	(12,407)	(3,888)	(18,267)
Interest income and other, net		403	2,869	517	3,040
Loss from continuing operations before income taxes		(33,279)	(18,468)	(69,179)	(35,502)
Income tax benefit		400	1,948	1,035	4,804
Loss from continuing operations		(32,879)	(16,520)	(68,144)	(30,698)
Income from discontinued operations, net of taxes (Note 3)		0	79	0	452
Net loss		$ (32,879)	$ (16,441)	$ (68,144)	$ (30,246)
Basic and diluted:
Loss from continuing operations (in dollars per share)		$ (0.92)	$ (0.46)	$ (1.90)	$ (0.85)
Income from discontinued operations (in dollars per share)		0	0	0	0.01
Net loss per share, basic and diluted (in dollars per share)	[1]	$ (0.92)	$ (0.46)	$ (1.90)	$ (0.84)
Weighted average common and common equivalent shares outstanding:
Basic and diluted (in shares)		35,931	35,798	35,889	36,028
Non-Franchise Lease
Operating expenses:
Rent		$ 12,902	$ 20,495	$ 26,127	$ 44,759
Franchisor
Operating expenses:
Rent		32,285	33,630	64,568	65,054
Service
Revenues:
Revenues		28,987	101,805	65,395	243,746
Operating expenses:
Cost of services and products		22,097	67,358	50,620	157,840
Product
Revenues:
Revenues		23,146	43,983	47,895	89,639
Operating expenses:
Cost of services and products		17,203	27,258	33,572	53,585
Royalties and fees
Revenues:
Revenues		$ 19,902	$ 29,347	$ 37,858	$ 57,364
[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		6 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Statement of Comprehensive Income [Abstract]
Net loss	$ (32,879)	$ (16,441)	$ (68,144)	$ (30,246)
Foreign currency translation adjustments	835	541	1,337	138
Comprehensive loss	$ (32,044)	$ (15,900)	$ (66,807)	$ (30,108)

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, 2019		36,869,249
Balance at Jun. 30, 2019	$ 324,245	$ 1,843	$ 47,152	$ 9,342	$ 265,908
Net loss	(30,246)				(30,246)
Foreign currency translation	$ 138			138
Stock repurchase program (in shares)	(1,500,000)	(1,504,000)
Stock repurchase program	$ (26,356)	$ (75)	(26,281)
Exercise of SARs (in shares)		1,776
Exercise of SARs	28		28
Stock-based compensation	2,139		2,139
Net restricted stock activity (in shares)		196,586
Net restricted stock activity	(1,798)	$ 10	(1,808)
Minority interest	(128)				(128)
Balance (in shares) at Dec. 31, 2019		35,563,611
Balance at Dec. 31, 2019	268,022	$ 1,778	21,230	9,480	235,534
Balance (in shares) at Sep. 30, 2019		35,548,036
Balance at Sep. 30, 2019	283,739	$ 1,777	20,880	8,939	252,143
Net loss	(16,441)				(16,441)
Foreign currency translation	541			541
Exercise of SARs (in shares)		1,500
Exercise of SARs	28		28
Stock-based compensation	332		332
Net restricted stock activity (in shares)		14,075
Net restricted stock activity	(9)	$ 1	(10)
Minority interest	(168)				(168)
Balance (in shares) at Dec. 31, 2019		35,563,611
Balance at Dec. 31, 2019	$ 268,022	$ 1,778	21,230	9,480	235,534
Balance (in shares) at Jun. 30, 2020	35,625,716	35,625,716
Balance at Jun. 30, 2020	$ 125,703	$ 1,781	22,011	7,449	94,462
Net loss	(68,144)				(68,144)
Foreign currency translation	$ 1,337			1,337
Stock repurchase program (in shares)	0
Stock-based compensation	$ 89		89
Net restricted stock activity (in shares)		142,370
Net restricted stock activity	(17)	$ 7	(24)
Minority interest	$ (520)				(520)
Balance (in shares) at Dec. 31, 2020	35,768,086	35,768,086
Balance at Dec. 31, 2020	$ 58,448	$ 1,788	22,076	8,786	25,798
Balance (in shares) at Sep. 30, 2020		35,665,783
Balance at Sep. 30, 2020	89,541	$ 1,783	20,596	7,951	59,211
Net loss	(32,879)				(32,879)
Foreign currency translation	835			835
Stock-based compensation	1,314		1,314
Net restricted stock activity (in shares)		102,303
Net restricted stock activity	171	$ 5	166
Minority interest	$ (534)				(534)
Balance (in shares) at Dec. 31, 2020	35,768,086	35,768,086
Balance at Dec. 31, 2020	$ 58,448	$ 1,788	$ 22,076	$ 8,786	$ 25,798

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands		6 Months Ended
		Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities:
Net loss		$ (68,144)	$ (30,246)
Adjustments to reconcile net loss to cash used in operating activities:
Non-cash adjustments related to discontinued operations		0	(586)
Depreciation and amortization		11,123	14,484
Salon asset impairment		0	2,643
Long-lived asset impairment		8,984	0
Deferred income taxes		(669)	(6,380)
Gain from sale of company headquarters, net		0	(2,513)
Loss from sale of salon assets to franchisees, net		3,888	18,267
Stock-based compensation		89	2,139
Amortization of debt discount and financing costs		875	138
Other non-cash items affecting earnings		202	(243)
Changes in operating assets and liabilities, excluding the effects of asset sales	[1]	(21,812)	(17,032)
Net cash used in operating activities		(65,464)	(19,329)
Cash flows from investing activities:
Capital expenditures		(7,502)	(17,576)
Proceeds from sale of assets to franchisees		7,148	69,414
Costs associated with sale of salon assets to franchisees		(222)	(1,550)
Proceeds from company-owned life insurance policies		1,200	0
Proceeds from sale of company headquarters		0	8,996
Net cash provided by investing activities		624	59,284
Cash flows from financing activities:
Repayments of revolving credit facility		0	(30,000)
Repurchase of common stock		0	(28,246)
Taxes paid for shares withheld		(212)	(1,809)
Minority interest buyout		(562)	0
Distribution center lease payments		(478)	(480)
Net cash used in financing activities		(1,252)	(60,535)
Effect of exchange rate changes on cash and cash equivalents		(68)	122
Decrease in cash, cash equivalents, and restricted cash		(66,160)	(20,458)
Cash, cash equivalents and restricted cash:
Beginning of period		122,880	92,379
End of period		$ 56,720	$ 71,921
[1]	Changes in operating assets and liabilities exclude assets and liabilities sold.

BASIS OF PRESENTATION OF UNAUDI

BASIS OF PRESENTATION OF UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Dec. 31, 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 December 31, 2020 and for the three and six months ended December 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 December 31, 2020 and its consolidated results of operations, comprehensive loss, changes in shareholders' 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, 2020 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 December 31, 2020, the global coronavirus pandemic ("COVID-19") had an adverse impact on operations, including prolonged government mandated salon closures in California and Ontario, in addition to other U.S. states and Canadian provinces. As of January 25, 2021, salons in California were allowed to re-open.The COVID-19 pandemic continues to impact salon guest visits resulting in a significant reduction in revenue and traffic. Due to the economic disruption caused by the COVID-19 pandemic, the Company faces a greater degree of uncertainty than normal in making judgments and estimates needed to apply the Company's significant accounting policies. Actual results and outcomes may differ from management's estimates and assumptions. Salon Long-Lived Asset and Right of Use Asset Impairment Assessments: The Company assesses impairment of long-lived salon assets and right of use assets at the individual salon level, as this is the lowest level for which identifiable cash flows are largely independent of other groups of assets and liabilities, when events or changes in circumstances indicate the carrying value of the assets or the asset grouping may not be recoverable. Factors considered in deciding when to perform an impairment review include significant under-performance of an individual salon in relation to expectations, significant economic or geographic trends, and significant changes or planned changes in the use of the assets. The first step is to assess recoverability, and in doing that, the undiscounted cash flows are compared to the carrying value. If the undiscounted estimated cash flows are less than the carrying value of the assets, the Company calculates an impairment charge based on the difference between the carrying value of the asset group and its fair value. The fair value of the salon long-lived asset group is estimated using market participant methods based on the best information available. See Note 10 for further discussion related to the right of use asset impairment. Judgments made by management related to the expected useful lives of long-lived assets and the ability to realize undiscounted cash flows in excess of the carrying amounts of such assets are affected by factors such as the ongoing maintenance and improvement of the assets, changes in economic conditions, and changes in operating performance. As the ongoing expected cash flows and carrying amounts of long-lived assets are assessed, these factors could cause the Company to realize material impairment charges. Long-lived asset impairment charges, including right of use and salon property and equipment, of $3.2 and $9.0 million were recorded in the three and six months ended December 31, 2020, respectively, and is separately stated on the unaudited Condensed Consolidated Statement of Operations. Of the total long-lived asset impairment charges, $1.5 and $6.0 million, respectively, were allocated to the right of use asset and $1.7 and $3.0 million, respectively, were allocated to salon property and equipment. Long-lived salon property and equipment asset impairment charges of $1.1 and $2.6 million were recorded during the three and six months ended December 31, 2019, respectively, and are recorded in Depreciation and amortization in the unaudited Condensed Consolidated Statement of Operations. Goodwill: As of December 31, 2020 and June 30, 2020, the Franchise reporting unit had $229.0 and $227.5 million, respectively, of goodwill. For further information, see Note 9 of the interim unaudited Condensed Consolidated Financial Statements. The Company assesses goodwill impairment on an annual basis, during the Company's fourth fiscal quarter, and between annual assessments if an event occurs, or circumstances change, that would more likely than not reduce the fair value of a reporting unit below its carrying amount. An interim impairment analysis was not required in the three months ended December 31, 2020. The Company performs its annual impairment assessment as of April 30. For the fiscal year 2020 annual impairment assessment, due to the impact of the COVID-19 pandemic, the Company elected to forgo the optional Step 0 assessment and performed the quantitative impairment analysis on the Franchise reporting unit. The Company compared the carrying value of the reporting unit, including goodwill, to the estimated fair value. The result of the assessment indicated that the estimated fair value of the Company's reporting unit exceeded its carrying value by approximately 50 percent. For the goodwill impairment analysis, management utilized a combination of both a discounted cash flows approach and a market approach. The key assumptions utilized in the analysis were the number of salons to be sold to franchisees and the discount rate. If a future triggering event occurs or if during the Company's annual impairment assessment the fair value of the Franchise reporting unit has decreased significantly, it may result in a non-cash impairment charge to reduce the carrying value of goodwill. Depreciation: Depreciation expense in the three and six months ended December 31, 2020 includes $1.3 and $2.6 million of asset retirement obligations, which are cash expenses. Minority Interest: In December 2020, the Company purchased its non-controlling interest in Roosters from the minority shareholders. The Company paid $0.6 million to obtain 100% ownership. The payment is recorded in cash used in financing activities on the unaudited Condensed Consolidated Statement of Cash Flows.

REVENUE RECOGNITION

REVENUE RECOGNITION	6 Months Ended
	Dec. 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 December 31, 2020 Three Months Ended December 31, 2019 Franchise Company-owned Franchise Company-owned (Dollars in thousands) Revenue recognized at a point in time: Service $ — $ 28,987 $ — $ 101,805 Product 14,236 8,910 16,864 27,119 Total revenue recognized at a point in time $ 14,236 $ 37,897 $ 16,864 $ 128,924 Revenue recognized over time: Royalty and other franchise fees $ 15,187 $ — $ 18,644 $ — Advertising fund fees 4,715 — 10,703 — Franchise rental income 32,285 — 33,630 — Total revenue recognized over time 52,187 — 62,977 — Total revenue $ 66,423 $ 37,897 $ 79,841 $ 128,924 Six Months Ended December 31, 2020 Six Months Ended December 31, 2019 Franchise Company-owned Franchise Company-owned (Dollars in thousands) Revenue recognized at a point in time: Service $ — $ 65,395 $ — $ 243,746 Product 27,978 19,917 29,969 59,670 Total revenue recognized at a point in time $ 27,978 $ 85,312 $ 29,969 $ 303,416 Revenue recognized over time: Royalty and other franchise fees $ 28,634 $ — $ 36,235 $ — Advertising fund fees 9,224 — 21,129 — Franchise rental income 64,568 — 65,054 — Total revenue recognized over time 102,426 — 122,418 — Total revenue $ 130,404 $ 85,312 $ 152,387 $ 303,416 Information about receivables, broker fees and deferred revenue subject to the amended revenue recognition guidance is as follows: December 31, June 30, Balance Sheet Classification (Dollars in thousands) Receivables from contracts with customers, net $ 27,457 $ 22,991 Accounts receivable, net Broker fees 20,345 20,516 Other assets Deferred revenue: Current Gift card liability $ 2,536 $ 2,543 Accrued expenses Deferred franchise fees unopened salons 69 77 Accrued expenses Deferred franchise fees open salons 5,854 5,537 Accrued expenses Total current deferred revenue $ 8,459 $ 8,157 Non-current Deferred franchise fees unopened salons $ 10,306 $ 11,855 Other non-current liabilities Deferred franchise fees open salons 33,674 33,623 Other non-current liabilities Total non-current deferred revenue $ 43,980 $ 45,478 Receivables relate primarily to payments due for royalties, franchise fees, advertising fees, rent, 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. The following table is a rollforward of the allowance for doubtful accounts for the period (in thousands): Balance as of June 30, 2020 $ 6,899 Provision for doubtful accounts (1) 1,627 Provision for franchisee rent (2) 853 Write-offs (632) Balance as of December 31, 2020 $ 8,747 _______________________________________________________________________________ (1) The provision for doubtful accounts is recognized as General and administrative expense in the unaudited Condensed Consolidated Statement of Operations. (2) The provision for franchisee rent is recognized as Rent in the unaudited Condensed Consolidated Statement of Operations. 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, 2020 $ 20,516 Additions 1,418 Amortization (1,565) Write-offs (24) Balance as of December 31, 2020 $ 20,345 Deferred revenue includes the gift card liability and deferred franchise fees for unopened salons and open salons. Gift card revenue for the three months ended December 31, 2020 and 2019 was $0.1 and $0.7 million, respectively, and for the six months ended December 31, 2020 and 2019 was $0.4 and $1.5 million, respectively. Deferred franchise fees related to open salons are generally recognized on a straight-line basis over the term of the franchise agreement. Franchise fee revenue for the three months ended December 31, 2020 and 2019 was $1.6 and $1.3 million, respectively, and for the six months ended December 31, 2020 and 2019 was $3.3 and $2.4 million, respectively. Estimated revenue expected to be recognized in the future related to deferred franchise fees for open salons as of December 31, 2020 is as follows (in thousands): Remainder of 2021 $ 2,959 2022 5,799 2023 5,622 2024 5,387 2025 4,993 Thereafter 14,768 Total $ 39,528

TBG RESTRUCTURING AND DISCONTIN

TBG RESTRUCTURING AND DISCONTINUED OPERATIONS	6 Months Ended
	Dec. 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). The Company classified the results of its mall-based business as discontinued operations in the unaudited Condensed Consolidated Statement of Operations. Included in discontinued operations in fiscal year 2020 are adjustments to actuarial assumptions related to the discontinued operations. Other than the items presented in the unaudited Consolidated Statement of Cash Flows, there were no other significant non-cash operating activities or non-cash investing activities related to discontinued operations for the six months ended December 31, 2020 and 2019.

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Dec. 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 stock options (SOs), restricted stock units (RSUs) and stock-settled performance units (PSUs). The Company’s diluted earnings per share is calculated as net loss divided by weighted average common shares and common share equivalents outstanding, which includes shares issued under the Company’s stock-based compensation plans. Stock-based awards with exercise prices greater than the average market price of the Company’s common stock are excluded from the computation of diluted earnings per share. For the three and six months ended December 31, 2020, there were 421,687 and 432,774, respectively, and for the three and six months ended December 31, 2019 there were 1,322,308 and 1,338,634, respectively, 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	1 Months Ended
	Oct. 31, 2020
Stockholders' Equity Note [Abstract]
SHAREHOLDERS' EQUITY	SHAREHOLDERS’ EQUITY: Stock-Based Employee Compensation: During the three and six months ended December 31, 2020, the Company granted various equity awards including RSUs, PSUs and SOs. A summary of equity awards granted is as follows: Three Months Ended December 31, 2020 Six Months Ended December 31, 2020 Restricted stock units 597,888 844,522 Performance-based restricted stock units — 62,290 Stock option units 1,458,680 1,458,680 The RSUs granted to employees during the three and six months ended December 31, 2020 vest in equal amounts over a three-year period subsequent to the grant date, cliff vest after a one-year period, cliff vest after a three-year period or cliff vest after a five-year period subsequent to the grant date. The CEO, who was appointed in October 2020, was granted 0.4 million "sign-on" RSUs that vest pro-rated over one year. The PSUs granted to employees have a three-year performance period ending June 30, 2023 linked to the Company's stock price reaching a specified volume weighted average closing price for a 50-day period that ends on June 30, 2023. The PSUs granted have a maximum vesting percentage of 200% based on the level of performance achieved for the respective award. The SOs granted during the three and six months ended December 31, 2020 were granted in connection with the appointment of the Company's CEO and consists of options to purchase shares of the Company's common stock. The SOs are subject to both a four-year service-based vesting condition and a performance-based vesting condition. Additionally, 0.4 million SOs are matching options that vest on the fourth Total compensation cost for stock-based payment arrangements totaling $1.3 and $0.3 million for the three months ended December 31, 2020 and 2019, respectively, and $0.1 and $2.1 million for the six months ended December 31, 2020 and 2019, respectively, was recorded within General and administrative expense on the unaudited Condensed Consolidated Statement of Operations. In the six months ended December 31, 2020 stock compensation includes a $2.4 million benefit from the forfeiture of awards related to the departure of the Company's former CEO. Share Repurchases: During the six months ended December 31, 2020, the Company did not repurchase shares under the previously approved stock repurchase program. During the six months ended December 31, 2019, the Company repurchased 1.5 million shares for $26.4 million under a previously approved stock repurchase program. At December 31, 2020, $54.6 million remains outstanding under the approved stock repurchase program.

INCOME TAXES

INCOME TAXES	6 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES: A summary of income tax benefits and corresponding effective tax rates is as follows: Three Months Ended December 31, Six Months Ended December 31, 2020 2019 2020 2019 (Dollars in thousands) Income tax benefit $ 400 $ 1,948 $ 1,035 $ 4,804 Effective tax rate 1.2 % 10.5 % 1.5 % 13.5 % The recorded tax provisions and effective tax rates for the three and six months ended December 31, 2020 were different than what would normally be expected primarily due to the impact of the deferred tax valuation allowance. The recorded tax provisions and effective tax rates for the three and six months ended December 31, 2019 were different than what would normally be expected primarily due to the impact of the deferred tax valuation allowance and global intangible low-taxed income ("GILTI"). The Company is no longer subject to IRS examinations for years before 2014. Furthermore, with limited exceptions, the Company is no longer subject to state and international income tax examinations by tax authorities for years before 2012.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Dec. 31, 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. The Company 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 been 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, 2020 and December 31, 2020, $2.1 million was included within accrued expenses on the unaudited Condensed Consolidated Balance Sheet related to these class action lawsuits. In addition, our existing point of sale system supplier has challenged the development of certain parts of our technology systems in litigation brought in the Northern District of California, case No. 20-cv-02181-MMC. We have vigorously denied the allegations made by this third-party supplier and have asserted certain counterclaims against the third party. However, the dispute regarding our ownership and involvement of certain key personnel may be costly and distracting, and the outcome is currently uncertain. The Company has not recorded an expense related to damages in connection with these matters because any potential loss is not currently probable or reasonably estimable under U.S. GAAP. Additionally, the Company is unable to reasonably estimate the range of loss, if any, that may result from these matters.

CASH, CASH EQUIVALENTS AND REST

CASH, CASH EQUIVALENTS AND RESTRICTED CASH	6 Months Ended
	Dec. 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: December 31, June 30, (Dollars in thousands) Cash and cash equivalents $ 50,850 $ 113,667 Restricted cash, included in Other current assets (1) 5,870 9,213 Total cash, cash equivalents and restricted cash $ 56,720 $ 122,880 _______________________________________________________________________________ (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

GOODWILL	6 Months Ended
	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL	GOODWILL: The table below contains details related to the Company's goodwill: Franchise Reporting Unit (Dollars in thousands) Goodwill, net at June 30, 2020 $ 227,457 Translation rate adjustments 1,493 Goodwill, net at December 31, 2020 $ 228,950

LEASES

LEASES	6 Months Ended
	Dec. 31, 2020
Leases [Abstract]
LEASES	LEASES 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 an additional 5 to 10 year terms at the option of the Company. In addition to the obligation to make fixed rental payments for the use of the salons, 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 includes the following: Three Months Ended December 31, Six Months Ended December 31, 2020 2019 2020 2019 (Dollars in thousands) Minimum rent $ 10,484 $ 15,926 $ 20,205 $ 35,067 Percentage rent based on sales 2 550 75 1,847 Real estate taxes and other expenses 2,497 2,860 5,158 6,170 Lease termination expense (1) 1,087 38 6,638 79 Lease liability benefit (2) (2,226) — (8,286) — Corporate segment rent 653 720 1,375 1,005 Franchise segment non-reimbursable rent 405 401 962 591 Total $ 12,902 $ 20,495 $ 26,127 $ 44,759 _______________________________________________________________________________ (1) During the three and six months ended December 31, 2020, the Company terminated the leases for 98 and 229 company-owned salons, respectively, before the lease end dates. During the three and six months ended December 31, 2019, the Company terminated the leases for 20 and 57 company-owned salons, respectively, before the lease end dates. For the three and six months ended December 31, 2020, lease termination fees include $2.2 and $4.6 million, respectively, of early termination payments to close salons before lease end date and relieve the Company of future lease obligations. For the three and six months ended December 31, 2020, lease termination fees also include $(1.1) and $2.0 million, respectively, of adjustments to accrued future lease payments for underperforming salons. The early termination payments made in the six months ended December 31, 2020 will save the Company approximately $4.3 million in future minimum rent plus associated real estate taxes and other lease expenses. (2) For the three and six months ended December 31, 2020, upon termination of previously impaired leases, the Company derecognized ROU assets of $3.0 and $10.1 million, respectively, and lease liabilities of $4.2 and $14.5 million, respectively, that resulted in a net gain of $1.2 and $4.4 million, respectively. In addition, the Company recognized a benefit from lease liabilities decreasing in excess of previously impaired ROU assets. The benefit recognized was $1.0 and $3.9 million in the three and six months ended December 31, 2020, respectively. The Company leases salon premises in which the majority of its franchisees operate and has entered into corresponding sublease arrangements with franchisees. All lease costs are passed through to the franchisees. The Company records the rental payments due from franchisees as franchise rental income and the corresponding amounts owed to landlords as franchise rent expense on the unaudited Condensed Consolidated Statement of Operations. For the three months ended December 31, 2020 and 2019, franchise rental income and franchise rent expense were $32.3 and $33.6 million, respectively. For the six months ended December 31, 2020 and 2019, franchise rental income and franchise rent expense was $64.6 and $65.1 million. These leases generally have lease terms of approximately 5 years. Excluding underperforming salons we plan to close, leases are assumed to be renewed upon expiration. The Company expects to renew SmartStyle and Supercuts franchise leases upon expiration. Other leases are expected to be renewed by the franchisee upon expiration. This represents a Board approved change in estimate, which was intended to reduce lease exposure. The change in estimate resulted in a decrease to lease liabilities and right of use assets of $72.9 million, with no impact to net income. 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, including one lease term option when the lease is expected to be renewed. 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. The Company's consolidated ROU asset balance was $637.1 and $786.2 million as of December 31, 2020 and June 30, 2020, respectively. For leases classified as operating leases, expense for lease payments is recognized on a straight-line basis over the lease term, including the lease renewal option when the lease is expected to be renewed. 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 included in the measurement of the lease liability because these charges are variable. 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 the original lease term. The weighted average remaining lease term was 6.50 and 6.87 years and the weighted average discount rate was 4.03% and 3.95% for all salon operating leases as of December 31, 2020 and June 30, 2020, respectively. A lessee’s ROU asset is subject to the same asset impairment guidance in ASC 360, Property, Plant, and Equipment, applied to other elements of property, plant, and equipment. The Company has identified its asset groups at the individual salon level as this represents the lowest level that identifiable cash flows are largely independent of the cash flows of other groups of assets and liabilities. Poor salon performance, primarily due to the COVID-19 pandemic, resulted in an ASC 360-10-35-21 triggering event. As a result, management assessed all salon asset groups, which included the related ROU assets, for impairment in accordance with ASC 360. The first step in the impairment test under ASC 360 is to determine whether the long-lived assets are recoverable, which is determined by comparing the net carrying value of the salon asset group to the undiscounted net cash flows to be generated from the use and eventual disposition of that asset group. Estimating cash flows for purposes of the recoverability test is subjective and requires significant judgment. Estimated future cash flows used for the purposes of the recoverability test were based upon historical cash flows for the salons, adjusted for expected changes in future market conditions related to the COVID-19 pandemic, and other factors. The period of time used to determine the estimates of the future cash flows for the recoverability test was based on the remaining useful life of the primary asset of the group, which was the ROU asset in all cases. Step two of the long-lived asset impairment test requires that the fair value of the asset group be estimated when determining the amount of any impairment loss. For the salon asset groups that failed the recoverability test, an impairment loss was measured as the amount by which the carrying amount of the asset group exceeds its fair value. The Company applied the fair value guidance within ASC 820-10 to determine the fair value of the asset group from the perspective of a market-participant considering, among other things, appropriate discount rates, multiple valuation techniques, the most advantageous market, and assumptions about the highest and best use of the asset group. To determine the fair value of the salon asset groups, the Company utilized market-participant assumptions rather than the Company’s own assumptions about how it intends to use the asset group. The significant judgments and assumptions utilized to determine the fair value of the salon asset groups include; the market rent of comparable properties based on recently negotiated leases as applicable, the asset group’s projected sales for properties with no recently negotiated leases, and a discount rate. Assessing the long-lived assets for impairment requires management to make assumptions and to apply judgment which can be affected by economic conditions and other factors that can be difficult to predict. The ultimate severity and longevity of the COVID-19 pandemic is unknown and therefore, if actual results are not consistent with the estimates and assumptions used in the calculations, the Company may be exposed to future impairment losses that could be material. In the three and six months ended December 31, 2020, the Company recognized a long-lived impairment charge of $3.2 and $9.0 million, respectively, which included $1.5 and $6.0 million, respectively, related to the right of use assets, in the unaudited Condensed Consolidated Statement of Operations. The impairments recorded for the three and six months ended December 31, 2020 were primarily the result of triggering events identified on certain underperforming salons, salons that were identified to close in the year, and certain salons where franchisees are unable to fulfill their rent obligations. As of December 31, 2020, future operating lease commitments, including one renewal option for leases expected to be renewed, 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 2021 $ 61,792 $ 15,257 $ 914 $ 77,963 $ (61,792) $ 16,171 2022 114,759 25,415 1,483 141,657 (114,759) 26,898 2023 101,513 19,539 1,520 122,572 (101,513) 21,059 2024 88,919 14,647 1,558 105,124 (88,919) 16,205 2025 75,170 8,328 1,598 85,096 (75,170) 9,926 Thereafter 201,054 18,670 7,824 227,548 (201,054) 26,494 Total future obligations $ 643,207 $ 101,856 $ 14,897 $ 759,960 $ (643,207) $ 116,753 Less amounts representing interest 79,438 9,401 2,542 91,381 Present value of lease liabilities $ 563,769 $ 92,455 $ 12,355 $ 668,579 Less current lease liabilities 100,685 25,796 1,168 127,649 Long-term lease liabilities $ 463,084 $ 66,659 $ 11,187 $ 540,930
LEASES	LEASES 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 an additional 5 to 10 year terms at the option of the Company. In addition to the obligation to make fixed rental payments for the use of the salons, 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 includes the following: Three Months Ended December 31, Six Months Ended December 31, 2020 2019 2020 2019 (Dollars in thousands) Minimum rent $ 10,484 $ 15,926 $ 20,205 $ 35,067 Percentage rent based on sales 2 550 75 1,847 Real estate taxes and other expenses 2,497 2,860 5,158 6,170 Lease termination expense (1) 1,087 38 6,638 79 Lease liability benefit (2) (2,226) — (8,286) — Corporate segment rent 653 720 1,375 1,005 Franchise segment non-reimbursable rent 405 401 962 591 Total $ 12,902 $ 20,495 $ 26,127 $ 44,759 _______________________________________________________________________________ (1) During the three and six months ended December 31, 2020, the Company terminated the leases for 98 and 229 company-owned salons, respectively, before the lease end dates. During the three and six months ended December 31, 2019, the Company terminated the leases for 20 and 57 company-owned salons, respectively, before the lease end dates. For the three and six months ended December 31, 2020, lease termination fees include $2.2 and $4.6 million, respectively, of early termination payments to close salons before lease end date and relieve the Company of future lease obligations. For the three and six months ended December 31, 2020, lease termination fees also include $(1.1) and $2.0 million, respectively, of adjustments to accrued future lease payments for underperforming salons. The early termination payments made in the six months ended December 31, 2020 will save the Company approximately $4.3 million in future minimum rent plus associated real estate taxes and other lease expenses. (2) For the three and six months ended December 31, 2020, upon termination of previously impaired leases, the Company derecognized ROU assets of $3.0 and $10.1 million, respectively, and lease liabilities of $4.2 and $14.5 million, respectively, that resulted in a net gain of $1.2 and $4.4 million, respectively. In addition, the Company recognized a benefit from lease liabilities decreasing in excess of previously impaired ROU assets. The benefit recognized was $1.0 and $3.9 million in the three and six months ended December 31, 2020, respectively. The Company leases salon premises in which the majority of its franchisees operate and has entered into corresponding sublease arrangements with franchisees. All lease costs are passed through to the franchisees. The Company records the rental payments due from franchisees as franchise rental income and the corresponding amounts owed to landlords as franchise rent expense on the unaudited Condensed Consolidated Statement of Operations. For the three months ended December 31, 2020 and 2019, franchise rental income and franchise rent expense were $32.3 and $33.6 million, respectively. For the six months ended December 31, 2020 and 2019, franchise rental income and franchise rent expense was $64.6 and $65.1 million. These leases generally have lease terms of approximately 5 years. Excluding underperforming salons we plan to close, leases are assumed to be renewed upon expiration. The Company expects to renew SmartStyle and Supercuts franchise leases upon expiration. Other leases are expected to be renewed by the franchisee upon expiration. This represents a Board approved change in estimate, which was intended to reduce lease exposure. The change in estimate resulted in a decrease to lease liabilities and right of use assets of $72.9 million, with no impact to net income. 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, including one lease term option when the lease is expected to be renewed. 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. The Company's consolidated ROU asset balance was $637.1 and $786.2 million as of December 31, 2020 and June 30, 2020, respectively. For leases classified as operating leases, expense for lease payments is recognized on a straight-line basis over the lease term, including the lease renewal option when the lease is expected to be renewed. 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 included in the measurement of the lease liability because these charges are variable. 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 the original lease term. The weighted average remaining lease term was 6.50 and 6.87 years and the weighted average discount rate was 4.03% and 3.95% for all salon operating leases as of December 31, 2020 and June 30, 2020, respectively. A lessee’s ROU asset is subject to the same asset impairment guidance in ASC 360, Property, Plant, and Equipment, applied to other elements of property, plant, and equipment. The Company has identified its asset groups at the individual salon level as this represents the lowest level that identifiable cash flows are largely independent of the cash flows of other groups of assets and liabilities. Poor salon performance, primarily due to the COVID-19 pandemic, resulted in an ASC 360-10-35-21 triggering event. As a result, management assessed all salon asset groups, which included the related ROU assets, for impairment in accordance with ASC 360. The first step in the impairment test under ASC 360 is to determine whether the long-lived assets are recoverable, which is determined by comparing the net carrying value of the salon asset group to the undiscounted net cash flows to be generated from the use and eventual disposition of that asset group. Estimating cash flows for purposes of the recoverability test is subjective and requires significant judgment. Estimated future cash flows used for the purposes of the recoverability test were based upon historical cash flows for the salons, adjusted for expected changes in future market conditions related to the COVID-19 pandemic, and other factors. The period of time used to determine the estimates of the future cash flows for the recoverability test was based on the remaining useful life of the primary asset of the group, which was the ROU asset in all cases. Step two of the long-lived asset impairment test requires that the fair value of the asset group be estimated when determining the amount of any impairment loss. For the salon asset groups that failed the recoverability test, an impairment loss was measured as the amount by which the carrying amount of the asset group exceeds its fair value. The Company applied the fair value guidance within ASC 820-10 to determine the fair value of the asset group from the perspective of a market-participant considering, among other things, appropriate discount rates, multiple valuation techniques, the most advantageous market, and assumptions about the highest and best use of the asset group. To determine the fair value of the salon asset groups, the Company utilized market-participant assumptions rather than the Company’s own assumptions about how it intends to use the asset group. The significant judgments and assumptions utilized to determine the fair value of the salon asset groups include; the market rent of comparable properties based on recently negotiated leases as applicable, the asset group’s projected sales for properties with no recently negotiated leases, and a discount rate. Assessing the long-lived assets for impairment requires management to make assumptions and to apply judgment which can be affected by economic conditions and other factors that can be difficult to predict. The ultimate severity and longevity of the COVID-19 pandemic is unknown and therefore, if actual results are not consistent with the estimates and assumptions used in the calculations, the Company may be exposed to future impairment losses that could be material. In the three and six months ended December 31, 2020, the Company recognized a long-lived impairment charge of $3.2 and $9.0 million, respectively, which included $1.5 and $6.0 million, respectively, related to the right of use assets, in the unaudited Condensed Consolidated Statement of Operations. The impairments recorded for the three and six months ended December 31, 2020 were primarily the result of triggering events identified on certain underperforming salons, salons that were identified to close in the year, and certain salons where franchisees are unable to fulfill their rent obligations. As of December 31, 2020, future operating lease commitments, including one renewal option for leases expected to be renewed, 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 2021 $ 61,792 $ 15,257 $ 914 $ 77,963 $ (61,792) $ 16,171 2022 114,759 25,415 1,483 141,657 (114,759) 26,898 2023 101,513 19,539 1,520 122,572 (101,513) 21,059 2024 88,919 14,647 1,558 105,124 (88,919) 16,205 2025 75,170 8,328 1,598 85,096 (75,170) 9,926 Thereafter 201,054 18,670 7,824 227,548 (201,054) 26,494 Total future obligations $ 643,207 $ 101,856 $ 14,897 $ 759,960 $ (643,207) $ 116,753 Less amounts representing interest 79,438 9,401 2,542 91,381 Present value of lease liabilities $ 563,769 $ 92,455 $ 12,355 $ 668,579 Less current lease liabilities 100,685 25,796 1,168 127,649 Long-term lease liabilities $ 463,084 $ 66,659 $ 11,187 $ 540,930

FINANCING ARRANGEMENTS

FINANCING ARRANGEMENTS	6 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
FINANCING ARRANGEMENTS	FINANCING ARRANGEMENTS: The Company’s long-term debt consists of the following: Revolving Credit Facility Maturity Date December 31, December 31, June 30, (Fiscal Year) (Interest rate %) (Dollars in thousands) Revolving credit facility 2023 5.00% $ 177,500 $ 177,500 At December 31, 2020, cash and cash equivalents totaled $50.9 million. As of December 31, 2020, the Company has $177.5 million of outstanding borrowings under a $295.0 million revolving credit facility. At December 31, 2020, the Company has outstanding standby letters of credit under the revolving credit facility of $18.7 million, primarily related to the Company's self-insurance program. The unused available credit under the facility was $98.8 million as of December 31, 2020. The Company's liquidity, which includes the unused available balance under the credit facility and unrestricted cash and cash equivalents, totaled $149.7 million as of December 31, 2020. The revolving credit facility has a minimum liquidity covenant of $75.0 million. As of December 31, 2020, the Company had cash, cash equivalents and restricted cash of $56.7 million and current liabilities of $213.8 million. The Company is in compliance with all covenants and other requirements of the financing arrangements as of December 31, 2020 and believes it will continue to be in compliance for at least one year from our filing date. Sale and Leaseback Transaction The Company’s long-term financing liabilities consists of the following: Maturity Date Interest Rate December 31, June 30, (Fiscal Year) (Dollars in thousands) Financial liability - Salt Lake City Distribution Center 2034 3.30% $ 16,457 $ 16,773 Financial liability - Chattanooga Distribution Center 2034 3.70% 11,183 11,208 Long- term financing liability $ 27,640 $ 27,981 In fiscal year 2019, the Company sold its Salt Lake City and Chattanooga Distribution Centers to an unrelated party. The Company is leasing the properties back for 15 years with the option to renew. As the Company plans to lease the property for more than 75% of its economic life, the sales proceeds received from the buyer-lessor are recognized as a financial liability. This financial liability is reduced based on the rental payments made under the lease that are allocated between principal and interest. As of December 31, 2020, the current portion of the Company’s lease liability was $1.0 million, which was recorded in accrued expenses on the unaudited Condensed Consolidated Balance Sheet. The weighted average remaining lease term was 13.1 years and the weighted average discount rate was 3.46% for financing leases as of December 31, 2020. As of December 31, 2020, future lease payments due are as follows: Fiscal year Salt Lake City Distribution Center Chattanooga Distribution Center (Dollars in thousands) Remainder of 2021 $ 581 $ 409 2022 1,171 829 2023 1,186 842 2024 1,200 854 2025 1,215 867 Thereafter 10,683 8,414 Total $ 16,036 $ 12,215 The financing liability does not include interest. Future lease payments above are due per the lease agreement and include embedded interest. Therefore, the total payments do not equal the financing liability. Total interest expense for the financing lease was $0.3 and $0.5 million for the three and six months ended December 31, 2020.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Dec. 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 December 31, 2020 and June 30, 2020, 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: Three Months Ended December 31, Six Months Ended December 31, 2020 2019 2020 2019 (Dollars in thousands) Long-lived asset impairment (1) $ 3,160 $ 1,126 $ 8,984 $ 2,643 _______________________________________________________________________________ (1) Long-lived asset impairment charges, including right of use and salon property and equipment, are separately stated on the unaudited Condensed Consolidated Statement of Operations for the three and six months ended December 31, 2020. Long-lived salon property and equipment asset impairment charges are recorded in Depreciation and amortization in the unaudited Condensed Consolidated Statement of Operations for the three and six months ended December 31, 2019. See Note 1 to the unaudited Condensed Consolidated Financial Statements.

SEGMENT INFORMATION

SEGMENT INFORMATION	6 Months Ended
	Dec. 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: December 31, June 30, FRANCHISE SALONS: SmartStyle/Cost Cutters in Walmart Stores 1,535 1,317 Supercuts 2,368 2,508 Portfolio Brands (1) 1,207 1,217 Total North American salons 5,110 5,042 Total International salons (2) 159 167 Total Franchise salons 5,269 5,209 as a percent of total Franchise and Company-owned salons 83.6 % 76.1 % COMPANY-OWNED SALONS: SmartStyle/Cost Cutters in Walmart Stores 466 751 Supercuts 154 210 Portfolio Brands (1) 340 505 Mall-based (3) 77 166 Total Company-owned salons 1,037 1,632 as a percent of total Franchise and Company-owned salons 16.4 % 23.9 % OWNERSHIP INTEREST LOCATIONS: Equity ownership interest locations 78 82 Grand Total, System-wide 6,384 6,923 _______________________________________________________________________________ (1) Portfolio Brands was previously referred to as Signature Style. (2) Canadian and Puerto Rican salons are included in the North American salon totals. (3) 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 December 31, 2020, the Franchise operating segment is comprised primarily of Supercuts ® , SmartStyle ® , Cost Cutters ® , First Choice Haircutters ® , Magicuts ® , and Roosters ® 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: Three Months Ended December 31, 2020 Franchise Company-owned Corporate Consolidated (Dollars in thousands) Revenues: Service $ — $ 28,987 $ — $ 28,987 Product 14,236 8,910 — 23,146 Royalties and fees 19,902 — — 19,902 Franchise rental income 32,285 — — 32,285 Total revenue 66,423 37,897 — 104,320 Operating expenses: Cost of service — 22,097 — 22,097 Cost of product 11,291 5,912 — 17,203 Site operating expenses 4,748 5,602 — 10,350 General and administrative 6,881 2,435 17,374 26,690 Rent 405 11,844 653 12,902 Franchise rent expense 32,285 — — 32,285 Depreciation and amortization 289 4,311 1,788 6,388 Long-lived asset impairment 94 3,066 — 3,160 Total operating expenses 55,993 55,267 19,815 131,075 Operating income (loss) 10,430 (17,370) (19,815) (26,755) Other (expense) income: Interest expense — — (3,701) (3,701) Loss from sale of salon assets to franchisees, net — — (3,226) (3,226) Interest income and other, net — — 403 403 Income (loss) from continuing operations before income taxes $ 10,430 $ (17,370) $ (26,339) $ (33,279) Three Months Ended December 31, 2019 Franchise Company-owned Corporate Consolidated (Dollars in thousands) Revenues: Service $ — $ 101,805 $ — $ 101,805 Product 16,864 27,119 — 43,983 Royalties and fees 29,347 — — 29,347 Franchise rental income 33,630 — — 33,630 Total revenue 79,841 128,924 — 208,765 Operating expenses: Cost of service — 67,358 — 67,358 Cost of product 13,072 14,186 — 27,258 Site operating expenses 10,704 15,626 — 26,330 General and administrative 8,976 7,547 16,168 32,691 Rent 401 19,374 720 20,495 Franchise rent expense 33,630 — — 33,630 Depreciation and amortization 210 5,938 1,599 7,747 TBG mall location restructuring 722 — — 722 Total operating expenses 67,715 130,029 18,487 216,231 Operating income (loss) 12,126 (1,105) (18,487) (7,466) Other (expense) income: Interest expense — — (1,464) (1,464) Loss from sale of salon assets to franchisees, net — — (12,407) (12,407) Interest income and other, net — — 2,869 2,869 Income (loss) from continuing operations before income taxes $ 12,126 $ (1,105) $ (29,489) $ (18,468) Six Months Ended December 31, 2020 Franchise Company-owned Corporate Consolidated (Dollars in thousands) Revenues: Service $ — $ 65,395 $ — $ 65,395 Product 27,978 19,917 — 47,895 Royalties and fees 37,858 — — 37,858 Franchise rental income 64,568 — — 64,568 Total revenue 130,404 85,312 — 215,716 Operating expenses: Cost of service — 50,620 — 50,620 Cost of product 21,969 11,603 — 33,572 Site operating expenses 9,258 14,331 — 23,589 General and administrative 15,604 5,411 31,822 52,837 Rent 962 23,790 1,375 26,127 Franchise rent expense 64,568 — — 64,568 Depreciation and amortization 563 9,393 3,808 13,764 Long-lived asset impairment 704 8,280 — 8,984 Total operating expenses 113,628 123,428 37,005 274,061 Operating income (loss) 16,776 (38,116) (37,005) (58,345) Other (expense) income: Interest expense — — (7,463) (7,463) Loss from sale of salon assets to franchisees, net — — (3,888) (3,888) Interest income and other, net — — 517 517 Income (loss) from continuing operations before income taxes $ 16,776 $ (38,116) $ (47,839) $ (69,179) Six Months Ended December 31, 2019 Franchise Company-owned Corporate Consolidated (Dollars in thousands) Revenues: Service $ — $ 243,746 $ — $ 243,746 Product 29,969 59,670 — 89,639 Royalties and fees 57,364 — — 57,364 Franchise rental income 65,054 — — 65,054 Total revenue 152,387 303,416 — 455,803 Operating expenses: Cost of service — 157,840 — 157,840 Cost of product 23,352 30,233 — 53,585 Site operating expenses 21,130 38,142 — 59,272 General and administrative 17,333 17,697 38,286 73,316 Rent 591 43,163 1,005 44,759 Franchise rent expense 65,054 — — 65,054 Depreciation and amortization 370 12,045 4,712 17,127 TBG mall location restructuring 2,222 — — 2,222 Total operating expenses 130,052 299,120 44,003 473,175 Operating income (loss) 22,335 4,296 (44,003) (17,372) Other (expense) income: Interest expense — — (2,903) (2,903) Loss from sale of salon assets to franchisees, net — — (18,267) (18,267) Interest income and other, net — — 3,040 3,040 Income (loss) from continuing operations before income taxes $ 22,335 4,296 $ (62,133) $ (35,502)

REVISION OF SECOND QUARTER 2020

REVISION OF SECOND QUARTER 2020 UNAUDITED RESULTS	6 Months Ended
	Dec. 31, 2020
Accounting Changes and Error Corrections [Abstract]
REVISION OF SECOND QUARTER 2020 UNAUDITED RESULTS	REVISION OF SECOND QUARTER 2020 UNAUDITED RESULTS: During the fourth quarter of fiscal year 2020, the Company identified an error in the calculation of the goodwill derecognition associated with the sale of salons to franchisees in the second quarter. In the second quarter, goodwill derecognition was understated by $6.7 million, resulting in the loss from the sale of salons to franchisees and net loss being understated and goodwill being overstated by $6.7 million. The Company assessed the applicable guidance issued by the Securities and Exchange Commission (SEC) and the Financial Accounting Standards Board (FASB) and concluded these misstatements were not material, individually or in the aggregate, to the Company’s Unaudited Condensed Consolidated Financial Statements for the aforementioned interim period. However, to facilitate comparisons among periods, the Company has decided to revise its previously issued second quarter unaudited condensed consolidated financial information. Three Months Ended December 31, 2019 As Previously Reported Adjustments As Revised (Dollars in thousands, except per share amounts) Loss from sale of salon assets to franchisees, net (1) $ (5,692) $ (6,715) $ (12,407) Interest income and other, net (2) 4,346 (1,477) 2,869 Loss from continuing operations before income taxes (10,276) (8,192) (18,468) Income tax benefit 795 1,153 1,948 Net loss (9,402) (7,039) (16,441) Net loss per share (0.26) (0.20) (0.46) Comprehensive loss (8,861) (7,039) (15,900) Goodwill as of December 31, 2019 293,019 (6,715) 286,304 Other assets as of December 31, 2019 38,144 (1,477) 36,667 Other non-current liabilities as of December 31, 2019 95,979 (1,153) 94,826 Six Months Ended December 31, 2019 As Previously Reported Adjustments As Revised (Dollars in thousands, except per share amounts) Loss from sale of salon assets to franchisees, net (1) $ (11,552) $ (6,715) $ (18,267) Interest income and other, net (2) 4,517 (1,477) 3,040 Loss from continuing operations before income taxes (27,310) (8,192) (35,502) Income tax benefit 3,651 1,153 4,804 Net loss (23,207) (7,039) (30,246) Net loss per share (0.64) (0.20) (0.84) Comprehensive loss (23,069) (7,039) (30,108) _______________________________________________________________________________ The Company revised the amounts originally reported for the second quarter of fiscal year 2020 for the following items: (1) Recorded an additional $6.7 million loss from the sale of salons to franchisees, net that should have been recorded in the second quarter. The error in the Company's goodwill derecognition estimation calculation was identified in the fourth quarter of fiscal year 2020. The goodwill derecognition was understated which understated the loss of the sale of salons to franchisees, net. The error impacted the three and six months ended December 31, 2019. (2) Recorded a reduction to the gain on the sale of a building, included in interest income and other, net related to the sale of the Company's headquarters which occurred in the second quarter of fiscal year 2020. Previously, the Company identified this error during the third quarter of fiscal year 2020 and recorded and disclosed the correction in the third quarter as an out-of-period adjustment. The correction applies to the three and six months ended December 31, 2019.

BASIS OF PRESENTATION OF UNAU_2

BASIS OF PRESENTATION OF UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Salon Long-Lived Asset and Right of Use Asset Impairment Assessments	Salon Long-Lived Asset and Right of Use Asset Impairment Assessments: The Company assesses impairment of long-lived salon assets and right of use assets at the individual salon level, as this is the lowest level for which identifiable cash flows are largely independent of other groups of assets and liabilities, when events or changes in circumstances indicate the carrying value of the assets or the asset grouping may not be recoverable. Factors considered in deciding when to perform an impairment review include significant under-performance of an individual salon in relation to expectations, significant economic or geographic trends, and significant changes or planned changes in the use of the assets. The first step is to assess recoverability, and in doing that, the undiscounted cash flows are compared to the carrying value. If the undiscounted estimated cash flows are less than the carrying value of the assets, the Company calculates an impairment charge based on the difference between the carrying value of the asset group and its fair value. The fair value of the salon long-lived asset group is estimated using market participant methods based on the best information available. See Note 10 for further discussion related to the right of use asset impairment.
Goodwill	The Company assesses goodwill impairment on an annual basis, during the Company's fourth fiscal quarter, and between annual assessments if an event occurs, or circumstances change, that would more likely than not reduce the fair value of a reporting unit below its carrying amount. An interim impairment analysis was not required in the three months ended December 31, 2020.The Company performs its annual impairment assessment as of April 30. For the fiscal year 2020 annual impairment assessment, due to the impact of the COVID-19 pandemic, the Company elected to forgo the optional Step 0 assessment and performed the quantitative impairment analysis on the Franchise reporting unit. The Company compared the carrying value of the reporting unit, including goodwill, to the estimated fair value. The result of the assessment indicated that the estimated fair value of the Company's reporting unit exceeded its carrying value by approximately 50 percent. For the goodwill impairment analysis, management utilized a combination of both a discounted cash flows approach and a market approach. The key assumptions utilized in the analysis were the number of salons to be sold to franchisees and the discount rate. If a future triggering event occurs or if during the Company's annual impairment assessment the fair value of the Franchise reporting unit has decreased significantly, it may result in a non-cash impairment charge to reduce the carrying value of goodwill.
Revenue Recognition and Deferred Revenue	Revenue Recognition and Deferred Revenue: Revenue recognized at point of sale Company-owned salon revenues are recognized at the time when the services are provided. Product revenues for company-owned salons are recognized when the guest receives and pays for the merchandise. Revenues from purchases made with gift cards are also recorded when the guest takes possession of the merchandise or services are provided. Gift cards issued by the Company are recorded as a liability (deferred revenue) upon sale and recognized as revenue upon redemption by the customer. Gift card breakage, the amount of gift cards which will not be redeemed, is recognized proportional to redemptions using estimates based on historical redemption patterns. Product sales by the Company to franchisees are included within product revenues in the unaudited Condensed Consolidated Statement of Operations and recorded at the time product is delivered to the franchisee. Payment for franchisee product revenue is generally collected within 30 to 90 days of delivery. Revenue recognized over time Franchise revenues primarily include royalties, advertising fund cooperatives fees, franchise fees and other fees. Royalty and advertising fund revenues represent sales-based royalties that are recognized in the period in which the sales occur. Generally, royalty and advertising fund revenue is billed and collected monthly in arrears. Advertising fund revenues and expenditures, which must be spent on marketing and related activities per the franchise agreements, are recorded on a gross basis within the unaudited Condensed Consolidated Statement of Operations. This increases both the gross amount of reported franchise revenue and site operating expense and generally has no impact on operating income and net income. Franchise fees are billed and received upon the signing of the franchise agreement. Recognition of these fees is deferred until the salon opening and is then recognized over the term of the franchise agreement, typically ten years. Franchise rental income is a result of the Company signing leases on behalf of franchisees and entering into a sublease arrangement with the franchisee. The Company recognizes franchise rental income and expense when it is due to the landlord.
Assets and Liabilities Measured at Fair Value on a Recurring and Nonrecurring Basis	Assets and Liabilities Measured at Fair Value on a Recurring Basis As of December 31, 2020 and June 30, 2020, 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.

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	6 Months Ended
	Dec. 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 December 31, 2020 Three Months Ended December 31, 2019 Franchise Company-owned Franchise Company-owned (Dollars in thousands) Revenue recognized at a point in time: Service $ — $ 28,987 $ — $ 101,805 Product 14,236 8,910 16,864 27,119 Total revenue recognized at a point in time $ 14,236 $ 37,897 $ 16,864 $ 128,924 Revenue recognized over time: Royalty and other franchise fees $ 15,187 $ — $ 18,644 $ — Advertising fund fees 4,715 — 10,703 — Franchise rental income 32,285 — 33,630 — Total revenue recognized over time 52,187 — 62,977 — Total revenue $ 66,423 $ 37,897 $ 79,841 $ 128,924 Six Months Ended December 31, 2020 Six Months Ended December 31, 2019 Franchise Company-owned Franchise Company-owned (Dollars in thousands) Revenue recognized at a point in time: Service $ — $ 65,395 $ — $ 243,746 Product 27,978 19,917 29,969 59,670 Total revenue recognized at a point in time $ 27,978 $ 85,312 $ 29,969 $ 303,416 Revenue recognized over time: Royalty and other franchise fees $ 28,634 $ — $ 36,235 $ — Advertising fund fees 9,224 — 21,129 — Franchise rental income 64,568 — 65,054 — Total revenue recognized over time 102,426 — 122,418 — Total revenue $ 130,404 $ 85,312 $ 152,387 $ 303,416
Schedule of receivables, broker fees and deferred revenue	Information about receivables, broker fees and deferred revenue subject to the amended revenue recognition guidance is as follows: December 31, June 30, Balance Sheet Classification (Dollars in thousands) Receivables from contracts with customers, net $ 27,457 $ 22,991 Accounts receivable, net Broker fees 20,345 20,516 Other assets Deferred revenue: Current Gift card liability $ 2,536 $ 2,543 Accrued expenses Deferred franchise fees unopened salons 69 77 Accrued expenses Deferred franchise fees open salons 5,854 5,537 Accrued expenses Total current deferred revenue $ 8,459 $ 8,157 Non-current Deferred franchise fees unopened salons $ 10,306 $ 11,855 Other non-current liabilities Deferred franchise fees open salons 33,674 33,623 Other non-current liabilities Total non-current deferred revenue $ 43,980 $ 45,478
Accounts Receivable, Allowance for Credit Loss	The following table is a rollforward of the allowance for doubtful accounts for the period (in thousands): Balance as of June 30, 2020 $ 6,899 Provision for doubtful accounts (1) 1,627 Provision for franchisee rent (2) 853 Write-offs (632) Balance as of December 31, 2020 $ 8,747 _______________________________________________________________________________ (1) The provision for doubtful accounts is recognized as General and administrative expense in the unaudited Condensed Consolidated Statement of Operations. (2) The provision for franchisee rent is recognized as Rent in the unaudited Condensed Consolidated Statement of Operations.
Broker fees	The following table is a rollforward of the broker fee balance for the periods indicated (in thousands): Balance as of June 30, 2020 $ 20,516 Additions 1,418 Amortization (1,565) Write-offs (24) Balance as of December 31, 2020 $ 20,345
Estimated revenue expected to be recognized	Estimated revenue expected to be recognized in the future related to deferred franchise fees for open salons as of December 31, 2020 is as follows (in thousands): Remainder of 2021 $ 2,959 2022 5,799 2023 5,622 2024 5,387 2025 4,993 Thereafter 14,768 Total $ 39,528

SHAREHOLDERS' EQUITY (Tables)

SHAREHOLDERS' EQUITY (Tables)	6 Months Ended
	Dec. 31, 2020
Stockholders' Equity Note [Abstract]
Share-based Equity Awards Granted	A summary of equity awards granted is as follows: Three Months Ended December 31, 2020 Six Months Ended December 31, 2020 Restricted stock units 597,888 844,522 Performance-based restricted stock units — 62,290 Stock option units 1,458,680 1,458,680

INCOME TAXES (Tables)

INCOME TAXES (Tables)	6 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Summary of income tax benefits and corresponding effective tax rates	A summary of income tax benefits and corresponding effective tax rates is as follows: Three Months Ended December 31, Six Months Ended December 31, 2020 2019 2020 2019 (Dollars in thousands) Income tax benefit $ 400 $ 1,948 $ 1,035 $ 4,804 Effective tax rate 1.2 % 10.5 % 1.5 % 13.5 %

CASH, CASH EQUIVALENTS AND RE_2

CASH, CASH EQUIVALENTS AND RESTRICTED CASH (Tables)	6 Months Ended
	Dec. 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: December 31, June 30, (Dollars in thousands) Cash and cash equivalents $ 50,850 $ 113,667 Restricted cash, included in Other current assets (1) 5,870 9,213 Total cash, cash equivalents and restricted cash $ 56,720 $ 122,880 _______________________________________________________________________________ (1) Restricted cash within other current assets primarily relates to consolidated advertising cooperatives funds which can only be used to settle obligations of the respective cooperatives and contractual obligations to collateralize the Company's self-insurance programs.
Schedule of restricted cash and cash equivalents	The table below reconciles the cash and cash equivalents balances and restricted cash balances, recorded in other current assets from the unaudited Condensed Consolidated Balance Sheet to the amount of cash, cash equivalents and restricted cash reported on the unaudited Condensed Consolidated Statement of Cash flows: December 31, June 30, (Dollars in thousands) Cash and cash equivalents $ 50,850 $ 113,667 Restricted cash, included in Other current assets (1) 5,870 9,213 Total cash, cash equivalents and restricted cash $ 56,720 $ 122,880 _______________________________________________________________________________ (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 (Tables)

GOODWILL (Tables)	6 Months Ended
	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of recorded goodwill	The table below contains details related to the Company's goodwill: Franchise Reporting Unit (Dollars in thousands) Goodwill, net at June 30, 2020 $ 227,457 Translation rate adjustments 1,493 Goodwill, net at December 31, 2020 $ 228,950

LEASES (Tables)

LEASES (Tables)	6 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Schedule of Real Estate Taxes and Other Occupancy Expenses	Total Rent includes the following: Three Months Ended December 31, Six Months Ended December 31, 2020 2019 2020 2019 (Dollars in thousands) Minimum rent $ 10,484 $ 15,926 $ 20,205 $ 35,067 Percentage rent based on sales 2 550 75 1,847 Real estate taxes and other expenses 2,497 2,860 5,158 6,170 Lease termination expense (1) 1,087 38 6,638 79 Lease liability benefit (2) (2,226) — (8,286) — Corporate segment rent 653 720 1,375 1,005 Franchise segment non-reimbursable rent 405 401 962 591 Total $ 12,902 $ 20,495 $ 26,127 $ 44,759 _______________________________________________________________________________ (1) During the three and six months ended December 31, 2020, the Company terminated the leases for 98 and 229 company-owned salons, respectively, before the lease end dates. During the three and six months ended December 31, 2019, the Company terminated the leases for 20 and 57 company-owned salons, respectively, before the lease end dates. For the three and six months ended December 31, 2020, lease termination fees include $2.2 and $4.6 million, respectively, of early termination payments to close salons before lease end date and relieve the Company of future lease obligations. For the three and six months ended December 31, 2020, lease termination fees also include $(1.1) and $2.0 million, respectively, of adjustments to accrued future lease payments for underperforming salons. The early termination payments made in the six months ended December 31, 2020 will save the Company approximately $4.3 million in future minimum rent plus associated real estate taxes and other lease expenses. (2) For the three and six months ended December 31, 2020, upon termination of previously impaired leases, the Company derecognized ROU assets of $3.0 and $10.1 million, respectively, and lease liabilities of $4.2 and $14.5 million, respectively, that resulted in a net gain of $1.2 and $4.4 million, respectively. In addition, the Company recognized a benefit from lease liabilities decreasing in excess of previously impaired ROU assets. The benefit recognized was $1.0 and $3.9 million in the three and six months ended December 31, 2020, respectively.
Lessor, Future Operating Lease Commitments	As of December 31, 2020, future operating lease commitments, including one renewal option for leases expected to be renewed, 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 2021 $ 61,792 $ 15,257 $ 914 $ 77,963 $ (61,792) $ 16,171 2022 114,759 25,415 1,483 141,657 (114,759) 26,898 2023 101,513 19,539 1,520 122,572 (101,513) 21,059 2024 88,919 14,647 1,558 105,124 (88,919) 16,205 2025 75,170 8,328 1,598 85,096 (75,170) 9,926 Thereafter 201,054 18,670 7,824 227,548 (201,054) 26,494 Total future obligations $ 643,207 $ 101,856 $ 14,897 $ 759,960 $ (643,207) $ 116,753 Less amounts representing interest 79,438 9,401 2,542 91,381 Present value of lease liabilities $ 563,769 $ 92,455 $ 12,355 $ 668,579 Less current lease liabilities 100,685 25,796 1,168 127,649 Long-term lease liabilities $ 463,084 $ 66,659 $ 11,187 $ 540,930
Lessee, Future Operating Lease Commitments	As of December 31, 2020, future operating lease commitments, including one renewal option for leases expected to be renewed, 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 2021 $ 61,792 $ 15,257 $ 914 $ 77,963 $ (61,792) $ 16,171 2022 114,759 25,415 1,483 141,657 (114,759) 26,898 2023 101,513 19,539 1,520 122,572 (101,513) 21,059 2024 88,919 14,647 1,558 105,124 (88,919) 16,205 2025 75,170 8,328 1,598 85,096 (75,170) 9,926 Thereafter 201,054 18,670 7,824 227,548 (201,054) 26,494 Total future obligations $ 643,207 $ 101,856 $ 14,897 $ 759,960 $ (643,207) $ 116,753 Less amounts representing interest 79,438 9,401 2,542 91,381 Present value of lease liabilities $ 563,769 $ 92,455 $ 12,355 $ 668,579 Less current lease liabilities 100,685 25,796 1,168 127,649 Long-term lease liabilities $ 463,084 $ 66,659 $ 11,187 $ 540,930

FINANCING ARRANGEMENTS (Tables)

FINANCING ARRANGEMENTS (Tables)	6 Months Ended
	Dec. 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 December 31, December 31, June 30, (Fiscal Year) (Interest rate %) (Dollars in thousands) Revolving credit facility 2023 5.00% $ 177,500 $ 177,500
Schedule of long-term financial liability	The Company’s long-term financing liabilities consists of the following: Maturity Date Interest Rate December 31, June 30, (Fiscal Year) (Dollars in thousands) Financial liability - Salt Lake City Distribution Center 2034 3.30% $ 16,457 $ 16,773 Financial liability - Chattanooga Distribution Center 2034 3.70% 11,183 11,208 Long- term financing liability $ 27,640 $ 27,981
Schedule of future lease payments due	As of December 31, 2020, future lease payments due are as follows: Fiscal year Salt Lake City Distribution Center Chattanooga Distribution Center (Dollars in thousands) Remainder of 2021 $ 581 $ 409 2022 1,171 829 2023 1,186 842 2024 1,200 854 2025 1,215 867 Thereafter 10,683 8,414 Total $ 16,036 $ 12,215

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Schedule of fair value impairments	The following impairments were based on fair values using Level 3 inputs: Three Months Ended December 31, Six Months Ended December 31, 2020 2019 2020 2019 (Dollars in thousands) Long-lived asset impairment (1) $ 3,160 $ 1,126 $ 8,984 $ 2,643 _______________________________________________________________________________ (1) Long-lived asset impairment charges, including right of use and salon property and equipment, are separately stated on the unaudited Condensed Consolidated Statement of Operations for the three and six months ended December 31, 2020. Long-lived salon property and equipment asset impairment charges are recorded in Depreciation and amortization in the unaudited Condensed Consolidated Statement of Operations for the three and six months ended December 31, 2019. See Note 1 to the unaudited Condensed Consolidated Financial Statements.

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	6 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
Schedule of reportable operating segment salons	The Company’s reportable operating segments consisted of the following salons: December 31, June 30, FRANCHISE SALONS: SmartStyle/Cost Cutters in Walmart Stores 1,535 1,317 Supercuts 2,368 2,508 Portfolio Brands (1) 1,207 1,217 Total North American salons 5,110 5,042 Total International salons (2) 159 167 Total Franchise salons 5,269 5,209 as a percent of total Franchise and Company-owned salons 83.6 % 76.1 % COMPANY-OWNED SALONS: SmartStyle/Cost Cutters in Walmart Stores 466 751 Supercuts 154 210 Portfolio Brands (1) 340 505 Mall-based (3) 77 166 Total Company-owned salons 1,037 1,632 as a percent of total Franchise and Company-owned salons 16.4 % 23.9 % OWNERSHIP INTEREST LOCATIONS: Equity ownership interest locations 78 82 Grand Total, System-wide 6,384 6,923 _______________________________________________________________________________ (1) Portfolio Brands was previously referred to as Signature Style. (2) Canadian and Puerto Rican salons are included in the North American salon totals. (3) 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: Three Months Ended December 31, 2020 Franchise Company-owned Corporate Consolidated (Dollars in thousands) Revenues: Service $ — $ 28,987 $ — $ 28,987 Product 14,236 8,910 — 23,146 Royalties and fees 19,902 — — 19,902 Franchise rental income 32,285 — — 32,285 Total revenue 66,423 37,897 — 104,320 Operating expenses: Cost of service — 22,097 — 22,097 Cost of product 11,291 5,912 — 17,203 Site operating expenses 4,748 5,602 — 10,350 General and administrative 6,881 2,435 17,374 26,690 Rent 405 11,844 653 12,902 Franchise rent expense 32,285 — — 32,285 Depreciation and amortization 289 4,311 1,788 6,388 Long-lived asset impairment 94 3,066 — 3,160 Total operating expenses 55,993 55,267 19,815 131,075 Operating income (loss) 10,430 (17,370) (19,815) (26,755) Other (expense) income: Interest expense — — (3,701) (3,701) Loss from sale of salon assets to franchisees, net — — (3,226) (3,226) Interest income and other, net — — 403 403 Income (loss) from continuing operations before income taxes $ 10,430 $ (17,370) $ (26,339) $ (33,279) Three Months Ended December 31, 2019 Franchise Company-owned Corporate Consolidated (Dollars in thousands) Revenues: Service $ — $ 101,805 $ — $ 101,805 Product 16,864 27,119 — 43,983 Royalties and fees 29,347 — — 29,347 Franchise rental income 33,630 — — 33,630 Total revenue 79,841 128,924 — 208,765 Operating expenses: Cost of service — 67,358 — 67,358 Cost of product 13,072 14,186 — 27,258 Site operating expenses 10,704 15,626 — 26,330 General and administrative 8,976 7,547 16,168 32,691 Rent 401 19,374 720 20,495 Franchise rent expense 33,630 — — 33,630 Depreciation and amortization 210 5,938 1,599 7,747 TBG mall location restructuring 722 — — 722 Total operating expenses 67,715 130,029 18,487 216,231 Operating income (loss) 12,126 (1,105) (18,487) (7,466) Other (expense) income: Interest expense — — (1,464) (1,464) Loss from sale of salon assets to franchisees, net — — (12,407) (12,407) Interest income and other, net — — 2,869 2,869 Income (loss) from continuing operations before income taxes $ 12,126 $ (1,105) $ (29,489) $ (18,468) Six Months Ended December 31, 2020 Franchise Company-owned Corporate Consolidated (Dollars in thousands) Revenues: Service $ — $ 65,395 $ — $ 65,395 Product 27,978 19,917 — 47,895 Royalties and fees 37,858 — — 37,858 Franchise rental income 64,568 — — 64,568 Total revenue 130,404 85,312 — 215,716 Operating expenses: Cost of service — 50,620 — 50,620 Cost of product 21,969 11,603 — 33,572 Site operating expenses 9,258 14,331 — 23,589 General and administrative 15,604 5,411 31,822 52,837 Rent 962 23,790 1,375 26,127 Franchise rent expense 64,568 — — 64,568 Depreciation and amortization 563 9,393 3,808 13,764 Long-lived asset impairment 704 8,280 — 8,984 Total operating expenses 113,628 123,428 37,005 274,061 Operating income (loss) 16,776 (38,116) (37,005) (58,345) Other (expense) income: Interest expense — — (7,463) (7,463) Loss from sale of salon assets to franchisees, net — — (3,888) (3,888) Interest income and other, net — — 517 517 Income (loss) from continuing operations before income taxes $ 16,776 $ (38,116) $ (47,839) $ (69,179) Six Months Ended December 31, 2019 Franchise Company-owned Corporate Consolidated (Dollars in thousands) Revenues: Service $ — $ 243,746 $ — $ 243,746 Product 29,969 59,670 — 89,639 Royalties and fees 57,364 — — 57,364 Franchise rental income 65,054 — — 65,054 Total revenue 152,387 303,416 — 455,803 Operating expenses: Cost of service — 157,840 — 157,840 Cost of product 23,352 30,233 — 53,585 Site operating expenses 21,130 38,142 — 59,272 General and administrative 17,333 17,697 38,286 73,316 Rent 591 43,163 1,005 44,759 Franchise rent expense 65,054 — — 65,054 Depreciation and amortization 370 12,045 4,712 17,127 TBG mall location restructuring 2,222 — — 2,222 Total operating expenses 130,052 299,120 44,003 473,175 Operating income (loss) 22,335 4,296 (44,003) (17,372) Other (expense) income: Interest expense — — (2,903) (2,903) Loss from sale of salon assets to franchisees, net — — (18,267) (18,267) Interest income and other, net — — 3,040 3,040 Income (loss) from continuing operations before income taxes $ 22,335 4,296 $ (62,133) $ (35,502)

REVISION OF SECOND QUARTER 20_2

REVISION OF SECOND QUARTER 2020 UNAUDITED RESULTS (Tables)	6 Months Ended
	Dec. 31, 2020
Accounting Changes and Error Corrections [Abstract]
Schedule of Revision of Previously Issued Unaudited Condensed Consolidated Financial Information	However, to facilitate comparisons among periods, the Company has decided to revise its previously issued second quarter unaudited condensed consolidated financial information. Three Months Ended December 31, 2019 As Previously Reported Adjustments As Revised (Dollars in thousands, except per share amounts) Loss from sale of salon assets to franchisees, net (1) $ (5,692) $ (6,715) $ (12,407) Interest income and other, net (2) 4,346 (1,477) 2,869 Loss from continuing operations before income taxes (10,276) (8,192) (18,468) Income tax benefit 795 1,153 1,948 Net loss (9,402) (7,039) (16,441) Net loss per share (0.26) (0.20) (0.46) Comprehensive loss (8,861) (7,039) (15,900) Goodwill as of December 31, 2019 293,019 (6,715) 286,304 Other assets as of December 31, 2019 38,144 (1,477) 36,667 Other non-current liabilities as of December 31, 2019 95,979 (1,153) 94,826 Six Months Ended December 31, 2019 As Previously Reported Adjustments As Revised (Dollars in thousands, except per share amounts) Loss from sale of salon assets to franchisees, net (1) $ (11,552) $ (6,715) $ (18,267) Interest income and other, net (2) 4,517 (1,477) 3,040 Loss from continuing operations before income taxes (27,310) (8,192) (35,502) Income tax benefit 3,651 1,153 4,804 Net loss (23,207) (7,039) (30,246) Net loss per share (0.64) (0.20) (0.84) Comprehensive loss (23,069) (7,039) (30,108) _______________________________________________________________________________ The Company revised the amounts originally reported for the second quarter of fiscal year 2020 for the following items: (1) Recorded an additional $6.7 million loss from the sale of salons to franchisees, net that should have been recorded in the second quarter. The error in the Company's goodwill derecognition estimation calculation was identified in the fourth quarter of fiscal year 2020. The goodwill derecognition was understated which understated the loss of the sale of salons to franchisees, net. The error impacted the three and six months ended December 31, 2019. (2) Recorded a reduction to the gain on the sale of a building, included in interest income and other, net related to the sale of the Company's headquarters which occurred in the second quarter of fiscal year 2020. Previously, the Company identified this error during the third quarter of fiscal year 2020 and recorded and disclosed the correction in the third quarter as an out-of-period adjustment. The correction applies to the three and six months ended December 31, 2019.

BASIS OF PRESENTATION OF UNAU_3

BASIS OF PRESENTATION OF UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Salon Long-Lived Asset and Right of Use Asset Impairment Assessments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Long-lived asset impairment	$ 3,160	$ 0	$ 8,984	$ 0
Operating lease, impairment loss	1,500		6,000
Salon asset impairment	$ 1,700	$ 1,100	$ 3,000	$ 2,600

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 ($) $ in Thousands	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2019
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Goodwill	$ 228,950	$ 227,457	$ 286,304
Franchise Reporting Unit
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Goodwill	$ 229,000	$ 227,500
Percentage of fair value in excess of carrying amount		50.00%

BASIS OF PRESENTATION OF UNAU_5

BASIS OF PRESENTATION OF UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Depreciation (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Dec. 31, 2020	Dec. 31, 2020
Accounting Policies [Abstract]
Depreciation expense, asset retirement obligation	$ 1.3	$ 2.6

BASIS OF PRESENTATION OF UNAU_6

BASIS OF PRESENTATION OF UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Minority Interest (Details) - USD ($) $ in Thousands	1 Months Ended	6 Months Ended
	Dec. 31, 2020	Dec. 31, 2020	Dec. 31, 2019
Noncontrolling Interest [Line Items]
Minority interest buyout		$ 562	$ 0
Roosters
Noncontrolling Interest [Line Items]
Minority interest buyout	$ 600
Non-controlling interest, ownership percentage	100.00%	100.00%

REVENUE RECOGNITION Revenue Rec

REVENUE RECOGNITION Revenue Recognized (Details)	6 Months Ended
	Dec. 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 Disaggregat

REVENUE RECOGNITION Disaggregation of Revenue by Timing (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Disaggregation of Revenue [Line Items]
Franchise rental income	$ 32,285	$ 33,630	$ 64,568	$ 65,054
Total revenues	104,320	208,765	215,716	455,803
Operating Segments | Franchise
Disaggregation of Revenue [Line Items]
Franchise rental income	32,285	33,630	64,568	65,054
Total revenues	66,423	79,841	130,404	152,387
Operating Segments | Company-owned
Disaggregation of Revenue [Line Items]
Franchise rental income	0	0	0	0
Total revenues	37,897	128,924	85,312	303,416
Service
Disaggregation of Revenue [Line Items]
Revenues	28,987	101,805	65,395	243,746
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	28,987	101,805	65,395	243,746
Product
Disaggregation of Revenue [Line Items]
Revenues	23,146	43,983	47,895	89,639
Product | Operating Segments | Franchise
Disaggregation of Revenue [Line Items]
Revenues	14,236	16,864	27,978	29,969
Product | Operating Segments | Company-owned
Disaggregation of Revenue [Line Items]
Revenues	8,910	27,119	19,917	59,670
Royalties and fees
Disaggregation of Revenue [Line Items]
Revenues	19,902	29,347	37,858	57,364
Royalties and fees | Operating Segments | Franchise
Disaggregation of Revenue [Line Items]
Revenues	19,902	29,347	37,858	57,364
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	14,236	16,864	27,978	29,969
Revenue recognized at a point in time | Operating Segments | Company-owned
Disaggregation of Revenue [Line Items]
Revenues	37,897	128,924	85,312	303,416
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	28,987	101,805	65,395	243,746
Revenue recognized at a point in time | Product | Operating Segments | Franchise
Disaggregation of Revenue [Line Items]
Revenues	14,236	16,864	27,978	29,969
Revenue recognized at a point in time | Product | Operating Segments | Company-owned
Disaggregation of Revenue [Line Items]
Revenues	8,910	27,119	19,917	59,670
Revenue recognized over time | Operating Segments | Franchise
Disaggregation of Revenue [Line Items]
Franchise rental income	32,285	33,630	64,568	65,054
Total revenues	52,187	62,977	102,426	122,418
Revenue recognized over time | Operating Segments | Company-owned
Disaggregation of Revenue [Line Items]
Franchise rental income	0	0	0	0
Total revenues	0	0	0	0
Revenue recognized over time | Royalties and fees | Operating Segments | Franchise
Disaggregation of Revenue [Line Items]
Revenues	15,187	18,644	28,634	36,235
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	4,715	10,703	9,224	21,129
Revenue recognized over time | Advertising fund fees | Operating Segments | Company-owned
Disaggregation of Revenue [Line Items]
Revenues	$ 0	$ 0	$ 0	$ 0

REVENUE RECOGNITION Receivables

REVENUE RECOGNITION Receivables, Broker Fees and Deferred Revenue (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Jun. 30, 2020
Revenue from Contract with Customer [Abstract]
Receivables	$ 27,457	$ 22,991
Broker fees	20,345	20,516
Deferred revenue
Current	8,459	8,157
Non-current	43,980	45,478
Gift card liability
Deferred revenue
Current	2,536	2,543
Deferred franchise fees unopened salons
Deferred revenue
Current	69	77
Non-current	10,306	11,855
Deferred franchise fees open salons
Deferred revenue
Current	5,854	5,537
Non-current	$ 33,674	$ 33,623

REVENUE RECOGNITION Additional

REVENUE RECOGNITION Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Gift Cards
Disaggregation of Revenue [Line Items]
Revenues	$ 0.1	$ 0.7	$ 0.4	$ 1.5
Franchise Fees
Disaggregation of Revenue [Line Items]
Revenues	$ 1.6	$ 1.3	$ 3.3	$ 2.4

REVENUE RECOGNITION Allowance F

REVENUE RECOGNITION Allowance For Doubtful Accounts (Details) $ in Thousands	6 Months Ended
	Dec. 31, 2020USD ($)
Revenue from Contract with Customer [Abstract]
Balance as of June 30, 2020	$ 6,899
Provision for doubtful accounts	1,627
Provision for franchisee rent	853
Write-offs	(632)
Balance as of December 31, 2020	$ 8,747

REVENUE RECOGNITION Broker Fee

REVENUE RECOGNITION Broker Fee Balance (Details) $ in Thousands	6 Months Ended
	Dec. 31, 2020USD ($)
Change In Deferred Costs [Roll Forward]
Balance as of June 30, 2020	$ 20,516
Additions	1,418
Amortization	(1,565)
Write-offs	(24)
Balance as of December 31, 2020	$ 20,345

REVENUE RECOGNITION Future Esti

REVENUE RECOGNITION Future Estimated Expected Revenue (Details) $ in Thousands	Dec. 31, 2020USD ($)
Revenue from Contract with Customer [Abstract]
Performance obligations expected to be satisfied	$ 39,528
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue from Contract with Customer [Abstract]
Performance obligations expected to be satisfied	$ 2,959
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied, expected timing	6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-07-01
Revenue from Contract with Customer [Abstract]
Performance obligations expected to be satisfied	$ 5,799
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	$ 5,622
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	$ 5,387
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	$ 4,993
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]: 2025-07-01
Revenue from Contract with Customer [Abstract]
Performance obligations expected to be satisfied	$ 14,768
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied, expected timing

TBG RESTRUCTURING AND DISCONT_2

TBG RESTRUCTURING AND DISCONTINUED OPERATIONS Additional Information (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2020USD ($)salon	Dec. 31, 2019USD ($)salon	Dec. 31, 2020USD ($)salon	Dec. 31, 2019USD ($)	Jun. 30, 2020salon	Oct. 31, 2017salon
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of stores | salon	6,384		6,384		6,923
Restructuring charges | $	$ 0	$ 722	$ 0	$ 2,222
Number of stores transferred | salon		207
Salon lease commitments | $	$ 14,000		14,000
Reduction in salon commitments | $			$ 9,000
North America | Facility Closing
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of stores | salon						858

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - shares	3 Months Ended		6 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 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)		1,322,308		1,338,634
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)	421,687		432,774
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)	3,041,962	66,151	1,990,449	77,514

SHAREHOLDERS' EQUITY Equity Awa

SHAREHOLDERS' EQUITY Equity Awards Granted (Details) - shares	3 Months Ended	6 Months Ended
	Dec. 31, 2020	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock granted, options (in shares)	1,458,680	1,458,680
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock granted (in shares)	597,888	844,522
Performance-based restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock granted (in shares)	0	62,290

SHAREHOLDERS' EQUITY Stock-Base

SHAREHOLDERS' EQUITY Stock-Based Employee Compensation, Additional Information (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended		6 Months Ended
	Oct. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock granted, options (in shares)		1,458,680		1,458,680
Share-based compensation expense (benefit)		$ 1.3	$ 0.3	$ 0.1	$ 2.1
CEO
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense (benefit)				$ (2.4)
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock granted (in shares)		597,888		844,522
Restricted stock units | CEO
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	1 year
Stock granted (in shares)	400,000
Restricted stock units | Tranche 1
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period				3 years
Vesting percentage				33.33%
Restricted stock units | Tranche 2
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period				1 year
Vesting percentage				33.33%
Restricted stock units | Tranche 3
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period				3 years
Vesting percentage				33.33%
Restricted stock units | Tranche 4
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period				5 years
Performance-based restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period				3 years
Stock granted (in shares)		0		62,290
Threshold trading days				50 days
Performance-based restricted stock units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage				200.00%
Stock Options | CEO
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period				4 years
Service-based vesting				4 years
Matching Stock Options | CEO
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period				4 years
Stock granted, options (in shares)				400,000

SHAREHOLDERS' EQUITY Share Repu

SHAREHOLDERS' EQUITY Share Repurchases (Details) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Stockholders' Equity Note [Abstract]
Stock repurchased during period (in shares)	0	1,500,000
Stock repurchase program		$ 26,356
Remaining authorized repurchase amount	$ 54,600

INCOME TAXES Summary of Income

INCOME TAXES Summary of Income Tax Benefits (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Income tax benefit	$ 400	$ 1,948	$ 1,035	$ 4,804
Effective tax rate	1.20%	10.50%	1.50%	13.50%

COMMITMENTS AND CONTINGENCIES A

COMMITMENTS AND CONTINGENCIES Additional Information (Details) - USD ($) $ in Millions	6 Months Ended
	Dec. 31, 2020	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Class action lawsuit settlement	$ 2.1
Loss contingency accrual	$ 2.1	$ 2.1

CASH, CASH EQUIVALENTS AND RE_3

CASH, CASH EQUIVALENTS AND RESTRICTED CASH Schedule of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019
Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	$ 50,850	$ 113,667
Restricted cash, included in Other current assets	5,870	9,213
Total cash, cash equivalents and restricted cash	$ 56,720	$ 122,880	$ 71,921	$ 92,379

GOODWILL Changes in Goodwill (D

GOODWILL Changes in Goodwill (Details) $ in Thousands	6 Months Ended
	Dec. 31, 2020USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill, net at June 30, 2020	$ 227,457
Translation rate adjustments	1,493
Goodwill, net at December 31, 2020	$ 228,950

LEASES Narrative (Details)

LEASES Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Jun. 30, 2020	Jun. 30, 2019
Lessor, Lease, Description [Line Items]
Lessee, term of contract						15 years
Franchise rental income	$ 32,285	$ 33,630	$ 64,568	$ 65,054
Rent expense	$ 32,300	33,600	$ 64,600	65,100
Lessor, term of contract	5 years		5 years
Right of use asset	$ 637,108		$ 637,108		$ 786,216
Operating lease liability	$ 668,579		$ 668,579
Weighted average remaining lease term	6 years 6 months		6 years 6 months		6 years 10 months 13 days
Weighted average discount rate	4.03%		4.03%		3.95%
Long-lived asset impairment	$ 3,160	$ 0	$ 8,984	$ 0
Operating lease, impairment loss	1,500		6,000
Lease Recognition
Lessor, Lease, Description [Line Items]
Right of use asset	(72,900)		(72,900)
Operating lease liability	$ (72,900)		$ (72,900)
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

LEASES Real Estate Taxes and Ot

LEASES Real Estate Taxes and Other Occupancy Expenses (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2020USD ($)salon	Dec. 31, 2019USD ($)franchisee	Dec. 31, 2020USD ($)salon	Dec. 31, 2019USD ($)franchisee
Lessee, Lease, Description [Line Items]
Total	$ 32,300	$ 33,600	$ 64,600	$ 65,100
Number of terminated leases	98	20	229	57
Early termination penalty payments	$ 2,200		$ 4,600
Adjustments to expected future lease payments for underperforming salons	(1,100)		2,000
Saved future rent payments			4,300
Derecognized right-of-use asset	3,000		10,100
Derecognized lease liability	4,200		14,500
Gain on termination of lease	1,200		4,400
Impairment benefit	1,000		3,900
Non-Franchise Lease
Lessee, Lease, Description [Line Items]
Minimum rent	10,484	$ 15,926	20,205	$ 35,067
Percentage rent based on sales	2	550	75	1,847
Real estate taxes and other expenses	2,497	2,860	5,158	6,170
Lease termination expense	1,087	38	6,638	79
Lease liability benefit	(2,226)	0	(8,286)	0
Corporate segment rent	653	720	1,375	1,005
Franchise segment non-reimbursable rent	405	401	962	591
Total	$ 12,902	$ 20,495	$ 26,127	$ 44,759

LEASES Future Operating Lease C

LEASES Future Operating Lease Commitments (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Jun. 30, 2020
Leases, Operating [Abstract]
Remainder of 2021	$ 77,963
2022	141,657
2023	122,572
2024	105,124
2025	85,096
Thereafter	227,548
Total future obligations	759,960
Less amounts representing interest	91,381
Present value of lease liabilities	668,579
Less current lease liabilities	127,649	$ 137,271
Long-term lease liabilities	540,930	$ 680,454
Sublease Income To Be Received From Franchisees
Remainder of 2021	(61,792)
2022	(114,759)
2023	(101,513)
2024	(88,919)
2025	(75,170)
Thereafter	(201,054)
Total future obligations	(643,207)
Net Rent Commitments
Remainder of 2021	16,171
2022	26,898
2023	21,059
2024	16,205
2025	9,926
Thereafter	26,494
Total future obligations	116,753
Operating Segments | Franchise
Leases, Operating [Abstract]
Remainder of 2021	61,792
2022	114,759
2023	101,513
2024	88,919
2025	75,170
Thereafter	201,054
Total future obligations	643,207
Less amounts representing interest	79,438
Present value of lease liabilities	563,769
Less current lease liabilities	100,685
Long-term lease liabilities	463,084
Operating Segments | Company-owned
Leases, Operating [Abstract]
Remainder of 2021	15,257
2022	25,415
2023	19,539
2024	14,647
2025	8,328
Thereafter	18,670
Total future obligations	101,856
Less amounts representing interest	9,401
Present value of lease liabilities	92,455
Less current lease liabilities	25,796
Long-term lease liabilities	66,659
Unallocated Corporate
Leases, Operating [Abstract]
Remainder of 2021	914
2022	1,483
2023	1,520
2024	1,558
2025	1,598
Thereafter	7,824
Total future obligations	14,897
Less amounts representing interest	2,542
Present value of lease liabilities	12,355
Less current lease liabilities	1,168
Long-term lease liabilities	$ 11,187

FINANCING ARRANGEMENTS Schedule

FINANCING ARRANGEMENTS Schedule of Long-term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Jun. 30, 2020
Debt Instrument [Line Items]
Long-term debt	$ 177,500	$ 177,500
Line of Credit | Revolving Credit Facility | Revolving credit facility
Debt Instrument [Line Items]
Interest rate percentage	5.00%
Long-term debt	$ 177,500	$ 177,500

FINANCING ARRANGEMENTS Revolvin

FINANCING ARRANGEMENTS Revolving Credit Facility (Details) - USD ($)	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019
Debt Instrument [Line Items]
Cash, cash equivalents and marketable securities	$ 50,900,000
Long-term debt	177,500,000	$ 177,500,000
Liquidity amount	149,700,000
Cash, cash equivalents, and restricted cash	56,720,000	122,880,000	$ 71,921,000	$ 92,379,000
Current liabilities	213,848,000	237,014,000
Line of Credit | Revolving Credit Facility | Revolving credit facility
Debt Instrument [Line Items]
Long-term debt	177,500,000	$ 177,500,000
Maximum borrowing capacity	295,000,000
Long-term line of credit	18,700,000
Unused borrowing capacity, amount	98,800,000
Minimum liquidity	$ 75,000,000

FINANCING ARRANGEMENTS Schedu_2

FINANCING ARRANGEMENTS Schedule of Long-term Financial Liability (Details) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2020	Jun. 30, 2020
Debt Instrument [Line Items]
Long- term financing liability	$ 27,640	$ 27,981
Salt Lake City Distribution Center
Debt Instrument [Line Items]
Interest rate	3.30%
Long- term financing liability	$ 16,457	16,773
Chattanooga Distribution Center
Debt Instrument [Line Items]
Interest rate	3.70%
Long- term financing liability	$ 11,183	$ 11,208

FINANCING ARRANGEMENTS Sale and

FINANCING ARRANGEMENTS Sale and Leaseback Transaction (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Dec. 31, 2020	Dec. 31, 2020	Jun. 30, 2019
Debt Disclosure [Abstract]
Term of contract			15 years
Short-term financial liability	$ 1	$ 1
Weighted average lease term	13 years 1 month 6 days	13 years 1 month 6 days
Weighted average discount rate	3.46%	3.46%
Interest expense	$ 0.3	$ 0.5

FINANCING ARRANGEMENTS Schedu_3

FINANCING ARRANGEMENTS Schedule of Future Minimum Lease Payments (Details) $ in Thousands	Dec. 31, 2020USD ($)
Salt Lake City Distribution Center
Minimum Lease Payments, Sale Leaseback Transactions, Fiscal Year Maturity [Abstract]
Remainder of 2021	$ 581
2022	1,171
2023	1,186
2024	1,200
2025	1,215
Thereafter	10,683
Total	16,036
Chattanooga Distribution Center
Minimum Lease Payments, Sale Leaseback Transactions, Fiscal Year Maturity [Abstract]
Remainder of 2021	409
2022	829
2023	842
2024	854
2025	867
Thereafter	8,414
Total	$ 12,215

FAIR VALUE MEASUREMENTS Narrati

FAIR VALUE MEASUREMENTS Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Nonrecurring | Level 3
Assets and liabilities measured at fair value on a nonrecurring basis
Long-lived asset impairment	$ 3,160	$ 1,126	$ 8,984	$ 2,643

SEGMENT INFORMATION Reportable

SEGMENT INFORMATION Reportable Operating Segment Salons (Details) - salon	Dec. 31, 2020	Jun. 30, 2020
Franchisor Disclosure [Line Items]
Number of salons	6,384	6,923
Equity ownership interest locations
Franchisor Disclosure [Line Items]
Number of salons	78	82
Franchise
Franchisor Disclosure [Line Items]
Number of salons	5,269	5,209
Salons as a percent of total Company-owned and Franchise salons	83.60%	76.10%
Franchise | International
Franchisor Disclosure [Line Items]
Number of salons	159	167
Franchise | Total North America salons | North American
Franchisor Disclosure [Line Items]
Number of salons	5,110	5,042
Franchise | SmartStyle/Cost Cutters in Walmart Stores
Franchisor Disclosure [Line Items]
Number of salons	1,535	1,317
Franchise | Supercuts
Franchisor Disclosure [Line Items]
Number of salons	2,368	2,508
Franchise | Portfolio Brands
Franchisor Disclosure [Line Items]
Number of salons	1,207	1,217
Company-owned
Franchisor Disclosure [Line Items]
Number of salons	1,037	1,632
Salons as a percent of total Company-owned and Franchise salons	16.40%	23.90%
Company-owned | SmartStyle/Cost Cutters in Walmart Stores
Franchisor Disclosure [Line Items]
Number of salons	466	751
Company-owned | Supercuts
Franchisor Disclosure [Line Items]
Number of salons	154	210
Company-owned | Portfolio Brands
Franchisor Disclosure [Line Items]
Number of salons	340	505
Company-owned | Mall-based
Franchisor Disclosure [Line Items]
Number of salons	77	166

SEGMENT INFORMATION Operating R

SEGMENT INFORMATION Operating Results (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Revenues:
Franchise rental income	$ 32,285	$ 33,630	$ 64,568	$ 65,054
Total revenues	104,320	208,765	215,716	455,803
Operating expenses:
Site operating expenses	10,350	26,330	23,589	59,272
General and administrative	26,690	32,691	52,837	73,316
Rent	32,300	33,600	64,600	65,100
Depreciation and amortization	6,388	7,747	13,764	17,127
Long-lived asset impairment	3,160	0	8,984	0
TBG mall location restructuring	0	722	0	2,222
Total operating expenses	131,075	216,231	274,061	473,175
Operating loss	(26,755)	(7,466)	(58,345)	(17,372)
Other (expense) income:
Interest expense	(3,701)	(1,464)	(7,463)	(2,903)
(Loss) gain from sale of salon assets to franchisees, net	(3,226)	(12,407)	(3,888)	(18,267)
Interest income and other, net	403	2,869	517	3,040
Loss from continuing operations before income taxes	(33,279)	(18,468)	(69,179)	(35,502)
Non-Franchise Lease
Operating expenses:
Rent	12,902	20,495	26,127	44,759
Franchisor
Operating expenses:
Rent	32,285	33,630	64,568	65,054
Operating Segments | Franchise
Revenues:
Franchise rental income	32,285	33,630	64,568	65,054
Total revenues	66,423	79,841	130,404	152,387
Operating expenses:
Site operating expenses	4,748	10,704	9,258	21,130
General and administrative	6,881	8,976	15,604	17,333
Depreciation and amortization	289	210	563	370
Long-lived asset impairment	94		704
TBG mall location restructuring		722		2,222
Total operating expenses	55,993	67,715	113,628	130,052
Operating loss	10,430	12,126	16,776	22,335
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	10,430	12,126	16,776	22,335
Operating Segments | Franchise | Non-Franchise Lease
Operating expenses:
Rent	405	401	962	591
Operating Segments | Franchise | Franchisor
Operating expenses:
Rent	32,285	33,630	64,568	65,054
Operating Segments | Company-owned
Revenues:
Franchise rental income	0	0	0	0
Total revenues	37,897	128,924	85,312	303,416
Operating expenses:
Site operating expenses	5,602	15,626	14,331	38,142
General and administrative	2,435	7,547	5,411	17,697
Depreciation and amortization	4,311	5,938	9,393	12,045
Long-lived asset impairment	3,066		8,280
TBG mall location restructuring		0		0
Total operating expenses	55,267	130,029	123,428	299,120
Operating loss	(17,370)	(1,105)	(38,116)	4,296
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	(17,370)	(1,105)	(38,116)	4,296
Operating Segments | Company-owned | Non-Franchise Lease
Operating expenses:
Rent	11,844	19,374	23,790	43,163
Operating Segments | Company-owned | Franchisor
Operating expenses:
Rent	0	0	0	0
Unallocated Corporate
Revenues:
Franchise rental income	0	0	0	0
Total revenues	0	0	0	0
Operating expenses:
Site operating expenses	0	0	0	0
General and administrative	17,374	16,168	31,822	38,286
Depreciation and amortization	1,788	1,599	3,808	4,712
Long-lived asset impairment	0		0
TBG mall location restructuring		0		0
Total operating expenses	19,815	18,487	37,005	44,003
Operating loss	(19,815)	(18,487)	(37,005)	(44,003)
Other (expense) income:
Interest expense	(3,701)	(1,464)	(7,463)	(2,903)
(Loss) gain from sale of salon assets to franchisees, net	(3,226)	(12,407)	(3,888)	(18,267)
Interest income and other, net	403	2,869	517	3,040
Loss from continuing operations before income taxes	(26,339)	(29,489)	(47,839)	(62,133)
Unallocated Corporate | Non-Franchise Lease
Operating expenses:
Rent	653	720	1,375	1,005
Unallocated Corporate | Franchisor
Operating expenses:
Rent	0	0	0	0
Service
Revenues:
Revenues	28,987	101,805	65,395	243,746
Operating expenses:
Cost of services and products	22,097	67,358	50,620	157,840
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	28,987	101,805	65,395	243,746
Operating expenses:
Cost of services and products	22,097	67,358	50,620	157,840
Service | Unallocated Corporate
Revenues:
Revenues	0	0	0	0
Operating expenses:
Cost of services and products	0	0	0	0
Product
Revenues:
Revenues	23,146	43,983	47,895	89,639
Operating expenses:
Cost of services and products	17,203	27,258	33,572	53,585
Product | Operating Segments | Franchise
Revenues:
Revenues	14,236	16,864	27,978	29,969
Operating expenses:
Cost of services and products	11,291	13,072	21,969	23,352
Product | Operating Segments | Company-owned
Revenues:
Revenues	8,910	27,119	19,917	59,670
Operating expenses:
Cost of services and products	5,912	14,186	11,603	30,233
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	19,902	29,347	37,858	57,364
Royalties and fees | Operating Segments | Franchise
Revenues:
Revenues	19,902	29,347	37,858	57,364
Royalties and fees | Operating Segments | Company-owned
Revenues:
Revenues	0	0	0	0
Royalties and fees | Unallocated Corporate
Revenues:
Revenues	$ 0	$ 0	$ 0	$ 0

REVISION OF SECOND QUARTER 20_3

REVISION OF SECOND QUARTER 2020 UNAUDITED RESULTS Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Loss from sale of salon assets	$ 3,226	$ 12,407	$ 3,888	$ 18,267
Adjustments
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Goodwill written off related to sale of salon assets		6,700
Loss from sale of salon assets		$ 6,715		$ 6,715

REVISION OF SECOND QUARTER 20_4

REVISION OF SECOND QUARTER 2020 UNAUDITED RESULTS Schedule of Accounting Adjustment (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		6 Months Ended
		Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Jun. 30, 2020
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Loss from sale of salon assets to franchisees, net		$ (3,226)	$ (12,407)	$ (3,888)	$ (18,267)
Interest income and other, net		403	2,869	517	3,040
Loss from continuing operations before income taxes		(33,279)	(18,468)	(69,179)	(35,502)
Income tax benefit		400	1,948	1,035	4,804
Net loss		$ (32,879)	$ (16,441)	$ (68,144)	$ (30,246)
Net loss per share (in dollar per share)	[1]	$ (0.92)	$ (0.46)	$ (1.90)	$ (0.84)
Comprehensive loss		$ (32,044)	$ (15,900)	$ (66,807)	$ (30,108)
Goodwill		228,950	286,304	228,950	286,304	$ 227,457
Other assets			36,667		36,667
Other non-current liabilities		$ 86,784	94,826	$ 86,784	94,826	$ 94,142
As Previously Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Loss from sale of salon assets to franchisees, net			(5,692)		(11,552)
Interest income and other, net			4,346		4,517
Loss from continuing operations before income taxes			(10,276)		(27,310)
Income tax benefit			795		3,651
Net loss			$ (9,402)		$ (23,207)
Net loss per share (in dollar per share)			$ (0.26)		$ (0.64)
Comprehensive loss			$ (8,861)		$ (23,069)
Goodwill			293,019		293,019
Other assets			38,144		38,144
Other non-current liabilities			95,979		95,979
Adjustments
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Loss from sale of salon assets to franchisees, net			(6,715)		(6,715)
Interest income and other, net			(1,477)		(1,477)
Loss from continuing operations before income taxes			(8,192)		(8,192)
Income tax benefit			1,153		1,153
Net loss			$ (7,039)		$ (7,039)
Net loss per share (in dollar per share)			$ (0.20)		$ (0.20)
Comprehensive loss			$ (7,039)		$ (7,039)
Goodwill			(6,715)		(6,715)
Other assets			(1,477)		(1,477)
Other non-current liabilities			$ (1,153)		$ (1,153)
[1]	Total is a recalculation; line items calculated individually may not sum to total due to rounding.