Regis (RGS) 10-Q 5 Nov 13 2014 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Sep. 30, 2013	Oct. 28, 2013
Document and Entity Information	'	'
Entity Registrant Name	'REGIS CORP	'
Entity Central Index Key	'0000716643	'
Document Type	'10-Q	'
Document Period End Date	30-Sep-13	'
Amendment Flag	'false	'
Current Fiscal Year End Date	'--06-30	'
Entity Current Reporting Status	'Yes	'
Entity Filer Category	'Large Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	56,649,462
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q1	'

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEET (USD $)	Sep. 30, 2013	Jun. 30, 2013
In Thousands, unless otherwise specified
Current assets:	'	'
Cash and cash equivalents	$203,686	$200,488
Receivables, net	20,278	33,062
Inventories	149,224	139,607
Deferred income taxes	21,124	24,145
Income tax receivable	34,355	33,346
Other current assets	57,510	57,898
Total current assets	486,177	488,546
Property and equipment, net	302,400	313,460
Goodwill	461,740	460,885
Other intangibles, net	21,287	21,496
Investment in affiliates	44,331	43,319
Other assets	64,347	62,786
Total assets	1,380,282	1,390,492
Current liabilities:	'	'
Long-term debt, current portion	174,452	173,515
Accounts payable	65,651	66,071
Accrued expenses	128,930	137,226
Total current liabilities	369,033	376,812
Long-term debt and capital lease obligations	15	1,255
Other noncurrent liabilities	153,129	155,011
Total liabilities	522,177	533,078
Commitments and contingencies (Note 7)	'	'
Shareholders' equity:	'	'
Common stock, $0.05 par value; issued and outstanding 56,649,378 and 56,630,926 common shares at September 30, 2013 and June 30, 2013, respectively	2,833	2,832
Additional paid-in capital	335,362	334,266
Accumulated other comprehensive income	23,591	20,556
Retained earnings	496,319	499,760
Total shareholders' equity	858,105	857,414
Total liabilities and shareholders' equity	$1,380,282	$1,390,492

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEET (Parenthetical) (USD $)	Sep. 30, 2013	Jun. 30, 2013
CONDENSED CONSOLIDATED BALANCE SHEET	'	'
Common stock, par value (in dollars per share)	$0.05	$0.05
Common stock, shares issued	56,649,378	56,630,926
Common stock, shares outstanding	56,649,378	56,630,926

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012
Revenues:	'	'
Service	$371,727	$393,416
Product	86,743	102,284
Royalties and fees	10,113	9,660
Total revenues	468,583	505,360
Operating expenses:	'	'
Cost of service	225,015	232,528
Cost of product	44,024	53,132
Site operating expenses	50,841	52,347
General and administrative	44,433	55,872
Rent	79,010	81,499
Depreciation and amortization	23,831	20,709
Total operating expenses	467,154	496,087
Operating income	1,429	9,273
Other income (expense):	'	'
Interest expense	-4,491	-6,829
Interest income and other, net	544	34,612
(Loss) income before income taxes and equity in income of affiliated companies	-2,518	37,056
Income taxes	383	-2,986
Equity in income of affiliated companies, net of income taxes	1,999	577
(Loss) income from continuing operations	-136	34,647
Income from discontinued operations, net of taxes	'	3,777
Net (loss) income	($136)	$38,424
Basic:	'	'
(Loss) income from continuing operations (in dollars per share)	$0	$0.60
Income from discontinued operations (in dollars per share)	'	$0.07
Net (loss) income per share, basic (in dollars per share)	$0	$0.67
Diluted:	'	'
(Loss) income from continuing operations (in dollars per share)	$0	$0.54
Income from discontinued operations (in dollars per share)	'	$0.06
Net (loss) income per share, diluted (in dollars per share)	$0	$0.59
Weighted average common and common equivalent shares outstanding:	'	'
Basic (in shares)	56,393	57,283
Diluted (in shares)	56,393	68,589
Cash dividends declared per common share (in dollars per share)	$0.06	$0.06

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE (LOSS) INCOME (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012
CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE (LOSS) INCOME	'	'
Net (loss) income	($136)	$38,424
Foreign currency translation adjustments:	'	'
Foreign currency translation adjustments during the period	3,035	7,038
Reclassification adjustments for gains included in net income (Note 1)	'	-33,842
Net current period foreign currency translation adjustments	3,035	-26,804
Change in fair market value of financial instruments designated as cash flow hedges	'	-23
Other comprehensive income (loss)	3,035	-26,827
Comprehensive income	$2,899	$11,597

CONDENSED_CONSOLIDATED_STATEME2

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012
Cash flows from operating activities:	'	'
Net (loss) income	($136)	$38,424
Adjustments to reconcile net (loss) income to net cash provided by operating activities:	'	'
Depreciation and amortization	23,831	21,161
Equity in income of affiliated companies	-1,999	-907
Deferred income taxes	-250	7,120
Accumulated other comprehensive income reclassification adjustments (Note 1)	'	-33,842
Loss on write down of inventories	854	'
Stock-based compensation	1,811	1,818
Amortization of debt discount and financing costs	1,843	1,749
Other non-cash items affecting earnings	-34	410
Changes in operating assets and liabilities, excluding the effects of acquisitions	-10,164	-27,467
Net cash provided by operating activities	15,756	8,466
Cash flows from investing activities:	'	'
Capital expenditures	-11,444	-18,077
Proceeds from sale of assets	5	21
Asset acquisitions, net of cash acquired	-17	'
Proceeds from loans and investments	2,968	130,281
Net cash (used in) provided by investing activities	-8,488	112,225
Cash flows from financing activities:	'	'
Repayments of long-term debt and capital lease obligations	-1,706	-8,825
Dividends paid	-3,397	-3,448
Net cash used in financing activities	-5,103	-12,273
Effect of exchange rate changes on cash and cash equivalents	1,033	2,097
Increase in cash and cash equivalents	3,198	110,515
Cash and cash equivalents:	'	'
Beginning of period	200,488	111,943
End of period	$203,686	$222,458

BASIS_OF_PRESENTATION_OF_UNAUD

BASIS OF PRESENTATION OF UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:	3 Months Ended
	Sep. 30, 2013
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:	'
	1.                                     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 September 30, 2013 and for the three months ended September 30, 2013 and 2012, reflect, in the opinion of management, all adjustments necessary to fairly state the consolidated financial position of the Company as of September 30, 2013 and the consolidated results of its operations and its 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 Condensed Consolidated Balance Sheet data for June 30, 2013 was derived from audited Consolidated Financial Statements, but does 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, 2013 and other documents filed or furnished with the Securities and Exchange Commission (SEC) during the current fiscal year.
	Stock-Based Employee Compensation:
	During the three months ended September 30, 2013, the Company granted 225,223 restricted stock units (RSUs), 438,523 equity-based stock appreciation rights (SARs), and 284,604 performance share units (PSUs). There were no significant changes to the assumptions used in calculating the fair value of SARs. All grants relate to stock incentive plans that have been approved by the shareholders of the Company.
	Total compensation cost for stock-based payment arrangements totaled $1.8 million for both the three months ended September 30, 2013 and 2012 recorded within general and administrative expense on the Condensed Consolidated Statement of Operations.
	Goodwill:
	For the fiscal year 2013 annual impairment testing of goodwill, the estimated fair value of the Regis salon concept reporting unit exceeded its carrying values by approximately 9.0 percent. Although the Regis salon concept experienced a same-store sales decrease of 7.0 percent during the three months ended September 30, 2013, the Regis salon concept’s cash flows did not significantly differ from the projections used in the fiscal year 2013 annual goodwill impairment test. Any meaningful underperformance against the projections used in the fiscal year 2013 annual goodwill impairment test, reduced outlook for the Regis salon concept or increases to the carrying value of the Regis salon concept could lead to a goodwill impairment charge. The respective fair values of the Company’s remaining reporting units exceeded their carrying values by greater than 20.0 percent.
	While the Company has determined that the estimated fair value of Regis is appropriate based on the historical level of revenue growth, operating income and cash flows, it is reasonably likely that Regis may experience additional impairment in future periods. Because some of the inherent assumptions and estimates used in determining the fair value of each reporting unit are outside the control of management, changes in these underlying assumptions can adversely impact fair value. Potential impairment of a portion or all of the carrying value of goodwill for the Regis salon concept is dependent on many factors and cannot be predicted with certainty.
	As of September 30, 2013, the Company’s estimated fair value, as determined by the sum of the Company’s reporting units’ fair values, reconciled to within a reasonable range of the Company’s market capitalization which included an assumed control premium. The Company concluded that there were no triggering events requiring the Company to perform an interim goodwill impairment test between the previous annual impairment test and September 30, 2013.
	A summary of the Company’s goodwill balance by reporting unit is as follows:
	Reporting Unit	September 30,		June 30,
		2013		2013
		(Dollars in thousands)
	SmartStyle	$	49,387	$	49,286
	Supercuts	129,728		129,610
	MasterCuts	4,652		4,652
	Regis	34,974		34,953
	Promenade	242,999		242,384
	Total	$	461,740	$	460,885
	Prior Period Adjustments:
	During the three months ended September 30, 2013, the Company recorded certain errors that related to prior periods. The errors related to an overstatement of inventory and self-insurance accruals and an understatement of cash in prior periods. Because these errors were not material to the Company’s consolidated financial statements for any prior periods or the current quarter, the Company recorded a cumulative adjustment to correct the errors during the first quarter of fiscal year 2014. The impact of these items on the Company’s Consolidated Statement of Operations decreased Site Operating expense by $1.3 million, increased Cost of Product expense by $0.3 million and increased net income by $0.6 million.
	Foreign Currency Translation:
	During the three months ended September 30, 2012, the Company completed its sale of its investment in Provalliance and subsequently liquidated all foreign entities with Euro denominated operations. As a result, the Company recognized a net $33.8 million foreign currency translation gain within interest income and other, net in the Consolidated Statement of Operations for amounts previously classified within accumulated other comprehensive income.
	Recent Accounting Standards Adopted by the Company:
	Testing Indefinite-Lived Intangible Assets for Impairment
	In July 2012, the FASB updated the accounting guidance related to annual and interim indefinite-lived intangible asset impairment testing. The updated accounting guidance allows entities to first assess qualitative factors before performing a quantitative assessment of the fair value of indefinite-lived intangible assets. If it is determined on the basis of qualitative factors that the fair value of indefinite-lived intangible assets is more likely than not less than the carrying amount, the existing quantitative impairment test is required. Otherwise, no further impairment testing is required. The Company adopted this guidance in the first quarter of fiscal year 2014; its adoption did not have a material impact on the Company’s financial statements.
	Accounting Standards Recently Issued But Not Yet Adopted by the Company:
	Accounting for Cumulative Translation Adjustment upon Derecognition of Foreign Entities
	In March 2013, the FASB updated the accounting guidance related to the release of cumulative translation adjustments.  The updated accounting guidance clarified when to release cumulative translation adjustments into net income.  The updated guidance is effective for the Company beginning in the first quarter of fiscal year 2015 with early adoption permitted.  The Company does not expect the adoption of this update to have a material impact on the Company’s consolidated financial statements.
	Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists
	In July 2013, the FASB issued new accounting requirements which provide guidance on the financial statement presentation of unrecognized tax benefits when a net operating loss, a similar tax loss, or a tax credit carryforward exists. The requirements are effective for the Company beginning in the first quarter of fiscal year 2015 with early adoption permitted. The Company does not expect the adoption of these requirements to have a material impact on the Company’s consolidated financial statements.

DISCONTINUED_OPERATIONS

DISCONTINUED OPERATIONS:	3 Months Ended
	Sep. 30, 2013
DISCONTINUED OPERATIONS:	'
DISCONTINUED OPERATIONS:	'
	2.                                     DISCONTINUED OPERATIONS:
	Hair Restoration Centers
	On April 9, 2013, the Company sold its Hair Club for Men and Women business (Hair Club), a provider of hair restoration services. The Company received $162.8 million during fiscal year 2013, which was the purchase price of $163.5 million adjusted for the preliminary working capital provision. During the three months ended September 30, 2013, the Company received the $3.0 million of cash recorded as a receivable as of June 30, 2013, of which $2.0 million was a result of the final working capital provision, resulting in a final purchase price of $164.8 million, and $1.0 million of excess cash from the transaction completion date.
	The Company classified the results of operations of Hair Club as discontinued operations for all periods presented in the Condensed Consolidated Statement of Operations.
	The following summarizes the results of operations of the discontinued Hair Club operations for the three months ended September 30, 2012:
		(Dollars in thousands)
	Revenues	$	38,951
	Income from discontinued operations, before income taxes	5,872
	Income tax provision on discontinued operations	(2,299		)
	Equity in income of affiliated companies, net of income taxes	204
	Income from discontinued operations, net of income taxes	$	3,777
	Income taxes have been allocated to continuing and discontinued operations based on the methodology required by interim reporting and accounting for income taxes guidance.  Depreciation and amortization ceased during the three months ended September 30, 2012 in accordance with accounting for discontinued operations.

INVESTMENT_IN_AFFILIATES

INVESTMENT IN AFFILIATES:	3 Months Ended
	Sep. 30, 2013
INVESTMENT IN AFFILIATES:	'
INVESTMENT IN AFFILIATES:	'
	3.                                     INVESTMENT IN AFFILIATES:
	Investment in affiliates
	The table below presents the carrying amount of investments in affiliates:
		September 30,		June 30,
		2013		2013
		(Dollars in thousands)
	Empire Education Group, Inc.	$	44,108	$	43,098
	MY Style	223		221
		$	44,331	$	43,319
	Empire Education Group, Inc.
	During the three months ended September 30, 2013 and 2012, the Company recorded $1.0 and ($0.1) million, respectively, of equity earnings (loss) related to its investment in Empire Education Group, Inc. (EEG). The exposure to loss related to the Company’s involvement with EEG is the carrying value of the investment.
	Based on the Company’s fiscal year 2013 assessment of the carrying value of its investment in EEG, the Company’s estimate of EEG’s fair value exceeds carrying value by approximately 5 percent. During the three months ended September 30, 2013, the Company monitored and assessed the performance of EEG and comparable companies and noted an improvement in EEG’s financial performance and overall industry trends.  The Company will continue to closely monitor EEG’s performance and trends in the for-profit secondary educational market to assess the carrying value of its investment.  In the event these favorable trends were to reverse in the future, EEG could be required to impair its goodwill.  As of September 30, 2013, the Company’s share of EEG’s goodwill balance is approximately $16 million.
	The table below presents the summarized Statement of Operations information for EEG:
		Three Months Ended September 30,
		2013		2012
		(Dollars in thousands)
	Gross revenues	$	43,965	$	41,351
	Gross profit	14,912		12,750
	Operating income (loss)	2,904		(228		)
	Net income (loss)	1,938		(181		)
	MY Style
	During the three months ended September 30, 2013, the Company recovered $1.0 million on its previously impaired investment in MY Style’s parent company, Yamano Holding Corporation (“Yamano”), which is reported in equity in income of affiliated companies on the Condensed Consolidated Statement of Operations. During fiscal year 2011, the Company had estimated the fair value of the Yamano Class A Preferred Stock to be negligible and recorded an other than temporary impairment.

EARNINGS_PER_SHARE

EARNINGS PER SHARE:	3 Months Ended
	Sep. 30, 2013
EARNINGS PER SHARE:	'
EARNINGS PER SHARE:	'
	4.                                     EARNINGS PER SHARE:
	The Company’s basic earnings per share is calculated as net (loss) income divided by weighted average common shares outstanding, excluding unvested outstanding restricted stock awards, RSUs and PSUs. The Company’s dilutive earnings per share is calculated as net (loss) income 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 value of the Company’s common stock are excluded from the computation of diluted earnings per share. The Company’s dilutive earnings per share will also reflect the assumed conversion under the Company’s convertible debt if the impact is dilutive, along with the exclusion of interest expense, net of taxes. The impact of the convertible debt is excluded from the computation of diluted earnings per share when interest expense per common share obtainable upon conversion is greater than basic earnings per share.
	The following table sets forth a reconciliation of the net (loss) income from continuing operations available to common shareholders and the net (loss) income from continuing operations for diluted earnings per share under the if-converted method:
		For the Three Months
		Ended September 30,
		2013			2012
		(Dollars in thousands)
	Net (loss) income from continuing operations available to common shareholders	$	(136	)	$	34,647
	Effect of dilutive securities:
	Interest on convertible debt, net of taxes	—			2,130
	Net (loss) income from continuing operations for diluted earnings per share	$	(136	)	$	36,777
	The following table sets forth a reconciliation of shares used in the computation of basic and diluted earnings per share:
		For the Three Months
		Ended September 30,
		2013		2012
		(Shares in thousands)
	Weighted average shares for basic earnings per share	56,393		57,283
	Effect of dilutive securities:
	Dilutive effect of stock-based compensation (1)	—		67
	Dilutive effect of convertible debt	—		11,239
	Weighted average shares for diluted earnings per share	56,393		68,589
	(1)   For the three months ended September 30, 2013, 132,392, common stock equivalents of potentially dilutive common stock were not included in the diluted earnings per share calculation due to the net loss from continuing operations.
	The computation of weighted average shares outstanding, assuming dilution, excluded 1,409,169 and 1,028,988 of equity-based compensation awards during the three months ended September 30, 2013 and 2012, respectively as they were not dilutive under the treasury stock method. The computation of weighted average shares outstanding, assuming dilution also excluded 11,289,545 of shares from convertible debt for the three months ended September 30, 2013 as they were not dilutive.

SHAREHOLDERS_EQUITY

SHAREHOLDERS' EQUITY:	3 Months Ended
	Sep. 30, 2013
SHAREHOLDERS' EQUITY:	'
SHAREHOLDERS' EQUITY:	'
	5.                                  SHAREHOLDERS’ EQUITY:
	Additional Paid-In Capital:
	The $1.1 million increase in additional paid-in capital during the three months ended September 30, 2013 was primarily due to stock-based compensation expense, partially offset by expiration of unexercised stock options and stock appreciation rights.

INCOME_TAXES

INCOME TAXES:	3 Months Ended
	Sep. 30, 2013
INCOME TAXES:	'
INCOME TAXES:	'
	6.                                  INCOME TAXES:
	During the three months ended September 30, 2013 and 2012, the Company recognized tax (benefit) expense of $(0.4) million and $3.0 million, respectively, with corresponding effective tax rates of 15.2 and 8.1 percent.
	The recorded tax benefit and the effective tax rate for the three months ended September 30, 2013 is lower than would be expected due to unique items of tax expense reducing the tax benefit, with a resulting greater impact on the tax rate due to the relatively small amount of pretax loss reported for the quarter. The recorded tax expense and the effective income tax rate for the three months ended September 30, 2012 is significantly lower than would be expected due primarily to the non-taxability of the $33.8 million foreign currency translation gain recognized at the time of the sale of Provalliance.
	In the United States, after excluding certain deferred tax liabilities related to assets with indefinite lives, the Company has net deferred tax assets of approximately $54.7 million as of September 30, 2013.  Realization of deferred tax assets is ultimately dependent upon future taxable income.  We assess the likelihood that deferred tax assets will be recovered.  If recovery is not likely, we must increase our provision for income taxes by recording a reserve, in the form of a valuation allowance, for the deferred tax assets that will not ultimately be recoverable.  Should the Company’s present financial trends continue, it is reasonably possible that the Company could determine that a valuation allowance for the United States deferred tax assets will be required.
	The Company’s United States federal income tax returns for the fiscal years 2010 and 2011 are currently under audit. All earlier tax years are closed to examination. For state tax audits, the statute of limitations generally runs three to four years resulting in a number of returns being open for tax audits dating back to fiscal year 2009. The Company is currently under audit in a number of states in which the statute of limitations has been extended for fiscal years 2007 and forward.

COMMITMENTS_AND_CONTINGENCIES

COMMITMENTS AND CONTINGENCIES:	3 Months Ended
	Sep. 30, 2013
COMMITMENTS AND CONTINGENCIES:	'
COMMITMENTS AND CONTINGENCIES:	'
	7.                                      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. In addition, the Company is a nominal defendant, and nine current and former directors and officers of the Company are named defendants, in a shareholder derivative action in Minnesota state court. The derivative shareholder action alleges that the individual defendants breached their fiduciary duties to the Company in connection with their approval of certain executive compensation arrangements and certain related party transactions. The Board of Directors appointed a Special Litigation Committee to investigate the claims and allegations made in the derivative action, and to decide on behalf of the Company whether the claims and allegations should be pursued. The derivative action has been stayed by the court pending the decision of the Special Litigation Committee. We do not know when the Special Litigation Committee will complete its work, or what it will decide. 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 exposure to loss related to the Company’s discontinued Trade Secret salon concept is the guarantee of certain operating leases that have future minimum rents of approximately $2.7 million. The Company has determined the exposure to the risk of loss on the guarantee of the operating leases to be immaterial to the financial statements.

GOODWILL_AND_OTHER_INTANGIBLES

GOODWILL AND OTHER INTANGIBLES:	3 Months Ended
	Sep. 30, 2013
GOODWILL AND OTHER INTANGIBLES:	'
GOODWILL AND OTHER INTANGIBLES:	'
	8.                                  GOODWILL AND OTHER INTANGIBLES:
	The table below contains details related to the Company’s recorded goodwill:
		September 30, 2013							June 30, 2013
		Gross							Gross
		Carrying		Accumulated			Net (2)		Carrying		Accumulated			Net (2)
		Value		Impairment (1)					Value		Impairment (1)
		(Dollars in thousands)
	Goodwill	$	680,462	$	(218,722	)	$	461,740	$	679,607	$	(218,722	)	$	460,885
	(1) The table below contains additional information regarding the Company’s $218.7 million accumulated impairment losses:
	Fiscal Year	Impairment Charge		Reporting Unit
		(Dollars in thousands)
	2009	$	41,661	International
	2010	35,277		Regis
	2011	74,100		Promenade
	2012	67,684		Regis
	2013	—		N/A
	2014 (through 9.30.13)	—		N/A
	Total	$	218,722
	(2) Remaining net goodwill relates to the Company’s North American operations.
	The table below presents other intangible assets:
		September 30, 2013							June 30, 2013
				Accumulated							Accumulated
		Cost		Amortization (1)			Net		Cost		Amortization (1)			Net
		(Dollars in thousands)
	Amortized intangible assets:
	Brand assets and trade names	$	9,408	$	(3,340	)	$	6,068	$	9,310	$	(3,226	)	$	6,084
	Franchise agreements	11,299		(7,002		)	4,297		11,187		(6,839		)	4,348
	Lease intangibles	14,789		(6,782		)	8,007		14,754		(6,582		)	8,172
	Non-compete agreements	204		(158		)	46		201		(147		)	54
	Other	4,754		(1,885		)	2,869		4,614		(1,776		)	2,838
		$	40,454	$	(19,167	)	$	21,287	$	40,066	$	(18,570	)	$	21,496
	(1) Balance sheet accounts are converted at the applicable exchange rates effective as of the reported balance sheet dates, while income statement accounts are converted at the average exchange rates for the year-to-date periods presented.

FINANCING_ARRANGEMENTS

FINANCING ARRANGEMENTS:	3 Months Ended
	Sep. 30, 2013
FINANCING ARRANGEMENTS:	'
FINANCING ARRANGEMENTS:	'
	9.                                  FINANCING ARRANGEMENTS:
	The Company’s long-term debt consisted of the following:
				Amounts outstanding
		Maturity Dates	Interest Rate	September 30,			June 30,
				2013			2013
		(fiscal year)		(Dollars in thousands)
	Convertible senior notes	2015	5.00%	$	167,857		$	166,454
	Revolving credit facility	2018	—	—			—
	Equipment and leasehold notes payable	2015 - 2016	4.90 - 8.75	6,610			8,316
				174,467			174,770
	Less current portion			(174,452		)	(173,515		)
	Long-term portion			$	15		$	1,255
	Convertible Senior Notes
	In July 2009, the Company issued $172.5 million aggregate principal amount of 5.0% convertible senior notes due July 2014. The notes are unsecured, senior obligations of the Company and interest is payable semi-annually in arrears on January 15 and July 15 of each year at a rate of 5.0% per year. As of September 30, 2013, the conversion rate was 65.5131 shares of the Company’s common stock per $1,000 principal amount of notes, representing a conversion price of approximately $15.26 per share of the Company’s common stock. Interest expense related to the 5.0% contractual interest coupon was $2.2 million during the three months ended September 30, 2013 and 2012.  Interest expense related to the amortization of the debt discount was $1.4 and $1.3 million during the three months ended September 30, 2013 and 2012, respectively.
	Revolving Credit Facility
	As of September 30, 2013 and June 30, 2013, the Company had no outstanding borrowings under this facility. Additionally, the Company had outstanding standby letters of credit under the facility of $2.2 million at September 30, 2013 and June 30, 2013 primarily related to its self-insurance program. Unused available credit under the facility at September 30, 2013 and June 30, 2013 was $397.8 million.
	The Company was in compliance with all covenants and requirements of its financing arrangements as of and during the three months ended September 30, 2013.

FAIR_VALUE_MEASUREMENTS

FAIR VALUE MEASUREMENTS:	3 Months Ended
	Sep. 30, 2013
FAIR VALUE MEASUREMENTS:	'
FAIR VALUE MEASUREMENTS:	'
	10.                              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 that are Measured at Fair Value on a Recurring Basis
	As of September 30, 2013, the Company’s financial instruments included cash, cash equivalents, receivables, accounts payable and debt. The fair value of these instruments approximated their carrying values as of September 30, 2013 and June 30, 2013.
	Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis
	We measure certain assets, including the Company’s equity method investments, tangible fixed assets and goodwill, at fair value on a nonrecurring basis when they are deemed to be other than temporarily impaired. The fair values of the Company’s investments are determined based on valuation techniques using the best information available, and may include quoted market prices, market comparables, and discounted cash flow projections. There were no assets measured at fair value on a nonrecurring basis during the three months ended September 30, 2013.

SEGMENT_INFORMATION

SEGMENT INFORMATION:	3 Months Ended
	Sep. 30, 2013
SEGMENT INFORMATION:	'
SEGMENT INFORMATION:	'
	11.                               SEGMENT INFORMATION:
	As of September 30, 2013, the Company owned, franchised, or held ownership interests in 9,752 worldwide locations. The Company’s locations consisted of 9,154 North American salons, including 2,103 franchised salons (located in the United States, Canada and Puerto Rico), 352 international salons (located primarily in the United Kingdom), and 246 locations in which the Company maintains an ownership interest through the Company’s investment in affiliates. See Note 3 to the Condensed Consolidated Financial Statements for discussion of the Company’s investment in affiliates.
	Based on the way the Company manages its business, it has reported its North American salons and international salons as two separate reportable segments.
		For the Three Months
		Ended September 30,
		2013			2012
		(Dollars in thousands)
	Revenues (1):
	North American Salons	$	439,531		$	473,882
	International Salons	29,052			31,478
		$	468,583		$	505,360
	Operating income (loss) (1):
	North American Salons	$	28,808		$	33,978
	International Salons	(257		)	422
	Total segment operating income	28,551			34,400
	Unallocated Corporate	(27,122		)	(25,127		)
	Operating income (1)	$	1,429		$	9,273
	(1) See Note 2 to the Condensed Consolidated Financial Statements for discussion of the classification of the results of operations of Hair Club as a discontinued operation.

BASIS_OF_PRESENTATION_OF_UNAUD1

BASIS OF PRESENTATION OF UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: (Policies)	3 Months Ended
	Sep. 30, 2013
BASIS OF PRESENTATION OF UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:	'
Stock-Based Employee Compensation	'
	Stock-Based Employee Compensation:
	During the three months ended September 30, 2013, the Company granted 225,223 restricted stock units (RSUs), 438,523 equity-based stock appreciation rights (SARs), and 284,604 performance share units (PSUs). There were no significant changes to the assumptions used in calculating the fair value of SARs. All grants relate to stock incentive plans that have been approved by the shareholders of the Company.
	Total compensation cost for stock-based payment arrangements totaled $1.8 million for both the three months ended September 30, 2013 and 2012 recorded within general and administrative expense on the Condensed Consolidated Statement of Operations.
Goodwill	'
	Goodwill:
	For the fiscal year 2013 annual impairment testing of goodwill, the estimated fair value of the Regis salon concept reporting unit exceeded its carrying values by approximately 9.0 percent. Although the Regis salon concept experienced a same-store sales decrease of 7.0 percent during the three months ended September 30, 2013, the Regis salon concept’s cash flows did not significantly differ from the projections used in the fiscal year 2013 annual goodwill impairment test. Any meaningful underperformance against the projections used in the fiscal year 2013 annual goodwill impairment test, reduced outlook for the Regis salon concept or increases to the carrying value of the Regis salon concept could lead to a goodwill impairment charge. The respective fair values of the Company’s remaining reporting units exceeded their carrying values by greater than 20.0 percent.
	While the Company has determined that the estimated fair value of Regis is appropriate based on the historical level of revenue growth, operating income and cash flows, it is reasonably likely that Regis may experience additional impairment in future periods. Because some of the inherent assumptions and estimates used in determining the fair value of each reporting unit are outside the control of management, changes in these underlying assumptions can adversely impact fair value. Potential impairment of a portion or all of the carrying value of goodwill for the Regis salon concept is dependent on many factors and cannot be predicted with certainty.
	As of September 30, 2013, the Company’s estimated fair value, as determined by the sum of the Company’s reporting units’ fair values, reconciled to within a reasonable range of the Company’s market capitalization which included an assumed control premium. The Company concluded that there were no triggering events requiring the Company to perform an interim goodwill impairment test between the previous annual impairment test and September 30, 2013.
	A summary of the Company’s goodwill balance by reporting unit is as follows:
	Reporting Unit	September 30,		June 30,
		2013		2013
		(Dollars in thousands)
	SmartStyle	$	49,387	$	49,286
	Supercuts	129,728		129,610
	MasterCuts	4,652		4,652
	Regis	34,974		34,953
	Promenade	242,999		242,384
	Total	$	461,740	$	460,885
Prior Period Adjustments	'
	Prior Period Adjustments:
	During the three months ended September 30, 2013, the Company recorded certain errors that related to prior periods. The errors related to an overstatement of inventory and self-insurance accruals and an understatement of cash in prior periods. Because these errors were not material to the Company’s consolidated financial statements for any prior periods or the current quarter, the Company recorded a cumulative adjustment to correct the errors during the first quarter of fiscal year 2014. The impact of these items on the Company’s Consolidated Statement of Operations decreased Site Operating expense by $1.3 million, increased Cost of Product expense by $0.3 million and increased net income by $0.6 million.
Foreign Currency Translation	'
	Foreign Currency Translation:
	During the three months ended September 30, 2012, the Company completed its sale of its investment in Provalliance and subsequently liquidated all foreign entities with Euro denominated operations. As a result, the Company recognized a net $33.8 million foreign currency translation gain within interest income and other, net in the Consolidated Statement of Operations for amounts previously classified within accumulated other comprehensive income.

BASIS_OF_PRESENTATION_OF_UNAUD2

BASIS OF PRESENTATION OF UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: (Tables)	3 Months Ended
	Sep. 30, 2013
BASIS OF PRESENTATION OF UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:	'
Schedule of goodwill by reporting unit	'
	Reporting Unit	September 30,		June 30,
		2013		2013
		(Dollars in thousands)
	SmartStyle	$	49,387	$	49,286
	Supercuts	129,728		129,610
	MasterCuts	4,652		4,652
	Regis	34,974		34,953
	Promenade	242,999		242,384
	Total	$	461,740	$	460,885

DISCONTINUED_OPERATIONS_Tables

DISCONTINUED OPERATIONS: (Tables)	3 Months Ended
	Sep. 30, 2013
DISCONTINUED OPERATIONS:	'
Schedule of the results of operations of discontinued Hair Club operations	'
		(Dollars in thousands)
	Revenues	$	38,951
	Income from discontinued operations, before income taxes	5,872
	Income tax provision on discontinued operations	(2,299		)
	Equity in income of affiliated companies, net of income taxes	204
	Income from discontinued operations, net of income taxes	$	3,777

INVESTMENT_IN_AFFILIATES_Table

INVESTMENT IN AFFILIATES: (Tables)	3 Months Ended
	Sep. 30, 2013
INVESTMENT IN AFFILIATES:	'
Schedule of carrying amount of investments in affiliates	'
		September 30,		June 30,
		2013		2013
		(Dollars in thousands)
	Empire Education Group, Inc.	$	44,108	$	43,098
	MY Style	223		221
		$	44,331	$	43,319
Summary of Statement of Operation of affiliate	'
		Three Months Ended September 30,
		2013		2012
		(Dollars in thousands)
	Gross revenues	$	43,965	$	41,351
	Gross profit	14,912		12,750
	Operating income (loss)	2,904		(228		)
	Net income (loss)	1,938		(181		)

EARNINGS_PER_SHARE_Tables

EARNINGS PER SHARE: (Tables)	3 Months Ended
	Sep. 30, 2013
EARNINGS PER SHARE:	'
Reconciliation of the net (loss) income available to common shareholders and the net (loss) income for diluted earnings per share	'
		For the Three Months
		Ended September 30,
		2013			2012
		(Dollars in thousands)
	Net (loss) income from continuing operations available to common shareholders	$	(136	)	$	34,647
	Effect of dilutive securities:
	Interest on convertible debt, net of taxes	—			2,130
	Net (loss) income from continuing operations for diluted earnings per share	$	(136	)	$	36,777
Reconciliation of shares used in the computation of basic and diluted earnings per share	'
		For the Three Months
		Ended September 30,
		2013		2012
		(Shares in thousands)
	Weighted average shares for basic earnings per share	56,393		57,283
	Effect of dilutive securities:
	Dilutive effect of stock-based compensation (1)	—		67
	Dilutive effect of convertible debt	—		11,239
	Weighted average shares for diluted earnings per share	56,393		68,589
	(1)   For the three months ended September 30, 2013, 132,392, common stock equivalents of potentially dilutive common stock were not included in the diluted earnings per share calculation due to the net loss from continuing operations.

GOODWILL_AND_OTHER_INTANGIBLES1

GOODWILL AND OTHER INTANGIBLES: (Tables)	3 Months Ended
	Sep. 30, 2013
GOODWILL AND OTHER INTANGIBLES:	'
Schedule of the Company's recorded goodwill	'
		September 30, 2013							June 30, 2013
		Gross							Gross
		Carrying		Accumulated			Net (2)		Carrying		Accumulated			Net (2)
		Value		Impairment (1)					Value		Impairment (1)
		(Dollars in thousands)
	Goodwill	$	680,462	$	(218,722	)	$	461,740	$	679,607	$	(218,722	)	$	460,885
	(1) The table below contains additional information regarding the Company’s $218.7 million accumulated impairment losses:
	Fiscal Year	Impairment Charge		Reporting Unit
		(Dollars in thousands)
	2009	$	41,661	International
	2010	35,277		Regis
	2011	74,100		Promenade
	2012	67,684		Regis
	2013	—		N/A
	2014 (through 9.30.13)	—		N/A
	Total	$	218,722
	(2) Remaining net goodwill relates to the Company’s North American operations.
Schedule of additional information regarding the accumulated impairment losses of goodwill	'
	Fiscal Year	Impairment Charge		Reporting Unit
		(Dollars in thousands)
	2009	$	41,661	International
	2010	35,277		Regis
	2011	74,100		Promenade
	2012	67,684		Regis
	2013	—		N/A
	2014 (through 9.30.13)	—		N/A
	Total	$	218,722
Schedule of other intangible assets	'
		September 30, 2013							June 30, 2013
				Accumulated							Accumulated
		Cost		Amortization (1)			Net		Cost		Amortization (1)			Net
		(Dollars in thousands)
	Amortized intangible assets:
	Brand assets and trade names	$	9,408	$	(3,340	)	$	6,068	$	9,310	$	(3,226	)	$	6,084
	Franchise agreements	11,299		(7,002		)	4,297		11,187		(6,839		)	4,348
	Lease intangibles	14,789		(6,782		)	8,007		14,754		(6,582		)	8,172
	Non-compete agreements	204		(158		)	46		201		(147		)	54
	Other	4,754		(1,885		)	2,869		4,614		(1,776		)	2,838
		$	40,454	$	(19,167	)	$	21,287	$	40,066	$	(18,570	)	$	21,496
	(1) Balance sheet accounts are converted at the applicable exchange rates effective as of the reported balance sheet dates, while income statement accounts are converted at the average exchange rates for the year-to-date periods presented.

FINANCING_ARRANGEMENTS_Tables

FINANCING ARRANGEMENTS: (Tables)	3 Months Ended
	Sep. 30, 2013
FINANCING ARRANGEMENTS:	'
Schedule of long-term debt	'
				Amounts outstanding
		Maturity Dates	Interest Rate	September 30,			June 30,
				2013			2013
		(fiscal year)		(Dollars in thousands)
	Convertible senior notes	2015	5.00%	$	167,857		$	166,454
	Revolving credit facility	2018	—	—			—
	Equipment and leasehold notes payable	2015 - 2016	4.90 - 8.75	6,610			8,316
				174,467			174,770
	Less current portion			(174,452		)	(173,515		)
	Long-term portion			$	15		$	1,255

SEGMENT_INFORMATION_Tables

SEGMENT INFORMATION: (Tables)	3 Months Ended
	Sep. 30, 2013
SEGMENT INFORMATION:	'
Schedule of summarized financial information of reportable operating segments	'
		For the Three Months
		Ended September 30,
		2013			2012
		(Dollars in thousands)
	Revenues (1):
	North American Salons	$	439,531		$	473,882
	International Salons	29,052			31,478
		$	468,583		$	505,360
	Operating income (loss) (1):
	North American Salons	$	28,808		$	33,978
	International Salons	(257		)	422
	Total segment operating income	28,551			34,400
	Unallocated Corporate	(27,122		)	(25,127		)
	Operating income (1)	$	1,429		$	9,273
	(1) See Note 2 to the Condensed Consolidated Financial Statements for discussion of the classification of the results of operations of Hair Club as a discontinued operation.

BASIS_OF_PRESENTATION_OF_UNAUD3

BASIS OF PRESENTATION OF UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: (Details) (USD $)	3 Months Ended
In Millions, except Share data, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012
Stock-based employees compensation	'	'
Total compensation cost	$1.80	$1.80
RSUs	'	'
Stock-based employees compensation	'	'
Stock granted (in shares)	225,223	'
SARs	'	'
Stock-based employees compensation	'	'
Stock granted (in shares)	438,523	'
Performance share units	'	'
Stock-based employees compensation	'	'
Stock granted (in shares)	284,604	'

BASIS_OF_PRESENTATION_OF_UNAUD4

BASIS OF PRESENTATION OF UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: (Details 2) (USD $)	3 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Jun. 30, 2013
Goodwill	'	'
Minimum excess of fair value over carrying value for reporting units not impaired or likely to be impaired (as a percent)	'	20.00%
Goodwill	$461,740	$460,885
Smart Style	'	'
Goodwill	'	'
Goodwill	49,387	49,286
Supercuts	'	'
Goodwill	'	'
Goodwill	129,728	129,610
MasterCuts	'	'
Goodwill	'	'
Goodwill	4,652	4,652
Regis	'	'
Goodwill	'	'
Excess of fair value over carrying value (as a percent)	'	9.00%
Decline in same-store sales (as a percent)	7.00%	'
Goodwill	34,974	34,953
Promenade	'	'
Goodwill	'	'
Goodwill	$242,999	$242,384

BASIS_OF_PRESENTATION_OF_UNAUD5

BASIS OF PRESENTATION OF UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: (Details 3) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2012
Foreign Currency Translation	'
Foreign currency translation gain	($33,842)
Provalliance	'
Foreign Currency Translation	'
Foreign currency translation gain	$33,800

BASIS_OF_PRESENTATION_OF_UNAUD6

BASIS OF PRESENTATION OF UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: (Details 4) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2013
Site Operating Expenses	'
Prior period adjustments	'
Adjustment for prior period errors	$1.30
Cost of Product	'
Prior period adjustments	'
Adjustment for prior period errors	-0.3
Net Income	'
Prior period adjustments	'
Adjustment for prior period errors	$0.60

DISCONTINUED_OPERATIONS_Detail

DISCONTINUED OPERATIONS: (Details) (USD $)	0 Months Ended	3 Months Ended		12 Months Ended
	Apr. 09, 2013	Sep. 30, 2013	Sep. 30, 2012	Jun. 30, 2013
Income from discontinued operations	'	'	'	'
Income from discontinued operations, net of income taxes	'	'	$3,777,000	'
Hair Restoration Centers	'	'	'	'
Discontinued operations	'	'	'	'
Cash received after preliminary closing adjustments	'	'	'	162,800,000
Cash purchase price	163,500,000	'	'	'
Final purchase price after closing adjustments	'	164,800,000	'	'
Cash received as a result of the final working capital provision	'	2,000,000	'	'
Receivable recorded	'	'	'	3,000,000
Cash received as a result of excess cash	'	1,000,000	'	'
Income from discontinued operations	'	'	'	'
Revenues	'	'	38,951,000	'
Income from discontinued operations, before income taxes	'	'	5,872,000	'
Income tax provision on discontinued operations	'	'	-2,299,000	'
Equity in income of affiliated companies, net of income tax	'	'	204,000	'
Income from discontinued operations, net of income taxes	'	'	$3,777,000	'

INVESTMENT_IN_AFFILIATES_Detai

INVESTMENT IN AFFILIATES: (Details) (USD $)	3 Months Ended		12 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Jun. 30, 2013
Investment in affiliates	'	'	'
Investment in affiliates	$44,331	'	$43,319
Goodwill balance	461,740	'	460,885
Empire Education Group, Inc.	'	'	'
Investment in affiliates	'	'	'
Investment in affiliates	44,108	'	43,098
Equity in income (loss), net of income taxes	1,000	-100	'
Percentage that fair value exceeded carrying value	'	'	5.00%
Goodwill balance	16,000	'	'
MY Style	'	'	'
Investment in affiliates	'	'	'
Investment in affiliates	$223	'	$221

INVESTMENT_IN_AFFILIATES_Detai1

INVESTMENT IN AFFILIATES: (Details 2) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012
Summarized Statement of Operations Information:	'	'
Equity in income of affiliated companies	$1,999	$577
Empire Education Group, Inc.	'	'
Summarized Statement of Operations Information:	'	'
Gross revenues	43,965	41,351
Gross profit	14,912	12,750
Operating income (loss)	2,904	-228
Net income (loss)	1,938	-181
MY Style | Yamano Holding Corporation	'	'
Summarized Statement of Operations Information:	'	'
Equity in income of affiliated companies	$1,000	'

EARNINGS_PER_SHARE_Details

EARNINGS PER SHARE: (Details) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012
Reconciliation of the income (loss) available to common shareholders and the income (loss) for diluted earnings per share	'	'
Net (loss) income from continuing operations available to common shareholders	($136)	$34,647
Effect of dilutive securities:	'	'
Interest on convertible debt, net of taxes	'	2,130
Net (loss) income from continuing operations for diluted earnings per share	($136)	$36,777
Weighted average common and common equivalent shares outstanding:	'	'
Weighted average shares for basic earnings per share	56,393,000	57,283,000
Effect of dilutive securities:	'	'
Dilutive effect of stock-based compensation (in shares)	'	67,000
Dilutive effect of convertible debt (in shares)	'	11,239,000
Weighted average shares for diluted earnings per share	56,393,000	68,589,000
Common Stock	'	'
Awards excluded from earnings per share calculations	'	'
Awards excluded from diluted earnings per share computation (in shares)	132,392	'
Equity-based compensation awards	'	'
Awards excluded from earnings per share calculations	'	'
Awards excluded from diluted earnings per share computation (in shares)	1,409,169	1,028,988
Shares issuable upon conversion of debt	'	'
Awards excluded from earnings per share calculations	'	'
Awards excluded from diluted earnings per share computation (in shares)	11,289,545	'

SHAREHOLDERS_EQUITY_Details

SHAREHOLDERS' EQUITY: (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2013
Additional Paid-In Capital:	'
Increase in additional paid-in capital	$1.10

INCOME_TAXES_Details

INCOME TAXES: (Details) (USD $)	3 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
Investments in and Advances to Affiliates [Line Items]	'	'
Non-taxability of the foreign currency translation gain	'	($33,842,000)
(Benefit) provision for income taxes	'	'
Income tax (benefit) expense	-383,000	2,986,000
Effective tax rate (as a percent)	15.20%	8.10%
Net deferred tax assets	54,700,000	'
Provalliance	'	'
Investments in and Advances to Affiliates [Line Items]	'	'
Non-taxability of the foreign currency translation gain	'	$33,800,000

COMMITMENTS_AND_CONTINGENCIES_

COMMITMENTS AND CONTINGENCIES: (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2013
	item
COMMITMENTS AND CONTINGENCIES:	'
Number of current and former directors and officers who are named defendants	9
Future minimum rent	$2.70

GOODWILL_AND_OTHER_INTANGIBLES2

GOODWILL AND OTHER INTANGIBLES: (Details) (USD $)	Sep. 30, 2013	Jun. 30, 2013	Sep. 30, 2013	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2010	Sep. 30, 2013	Jun. 30, 2013	Jun. 30, 2011	Jun. 30, 2009
In Thousands, unless otherwise specified			Regis	Regis	Regis	Regis	Promenade	Promenade	Promenade	International
Goodwill	'	'	'	'	'	'	'	'	'	'
Gross Carrying Value	$680,462	$679,607	'	'	'	'	'	'	'	'
Accumulated Impairment	-218,722	-218,722	'	'	67,684	35,277	'	'	74,100	41,661
Net	$461,740	$460,885	$34,974	$34,953	'	'	$242,999	$242,384	'	'

GOODWILL_AND_OTHER_INTANGIBLES3

GOODWILL AND OTHER INTANGIBLES: (Details 2) (USD $)	Sep. 30, 2013	Jun. 30, 2013
In Thousands, unless otherwise specified
Amortized intangible assets:	'	'
Other intangibles, cost	$40,454	$40,066
Other intangibles, accumulated amortization	-19,167	-18,570
Other intangibles, net	21,287	21,496
Brand assets and trade names	'	'
Amortized intangible assets:	'	'
Other intangibles, cost	9,408	9,310
Other intangibles, accumulated amortization	-3,340	-3,226
Other intangibles, net	6,068	6,084
Franchise agreements	'	'
Amortized intangible assets:	'	'
Other intangibles, cost	11,299	11,187
Other intangibles, accumulated amortization	-7,002	-6,839
Other intangibles, net	4,297	4,348
Lease intangibles	'	'
Amortized intangible assets:	'	'
Other intangibles, cost	14,789	14,754
Other intangibles, accumulated amortization	-6,782	-6,582
Other intangibles, net	8,007	8,172
Non-compete agreements	'	'
Amortized intangible assets:	'	'
Other intangibles, cost	204	201
Other intangibles, accumulated amortization	-158	-147
Other intangibles, net	46	54
Other	'	'
Amortized intangible assets:	'	'
Other intangibles, cost	4,754	4,614
Other intangibles, accumulated amortization	-1,885	-1,776
Other intangibles, net	$2,869	$2,838

FINANCING_ARRANGEMENTS_Details

FINANCING ARRANGEMENTS: (Details) (USD $)	3 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Jun. 30, 2013	Jul. 31, 2009
Long-term debt	'	'	'	'
Net carrying amount of long-term debt	$174,467,000	'	$174,770,000	'
Less current portion	-174,452,000	'	-173,515,000	'
Long-term portion	15,000	'	1,255,000	'
Convertible senior notes	'	'	'	'
Long-term debt	'	'	'	'
Interest rate percentage	5.00%	'	'	5.00%
Net carrying amount of long-term debt	167,857,000	'	166,454,000	'
Long-term debt, additional disclosures	'	'	'	'
Principal amount of long-term debt	'	'	'	172,500,000
Long-term debt conversion ratio	0.0655131	'	'	'
Long-term debt conversion price (in dollars per share)	$15.26	'	'	'
Interest expense related to contractual interest coupon	2,200,000	2,200,000	'	'
Interest cost related to amortization of the discount	1,400,000	1,300,000	'	'
Revolving credit facility	'	'	'	'
Long-term debt, additional disclosures	'	'	'	'
Revolving credit facility outstanding amount	0	'	0	'
Outstanding standby letters of credit	2,200,000	'	2,200,000	'
Revolving credit facility remaining borrowing capacity	397,800,000	'	397,800,000	'
Equipment and leasehold notes payable	'	'	'	'
Long-term debt	'	'	'	'
Interest rate percentage, minimum	4.90%	'	'	'
Interest rate percentage, maximum	8.75%	'	'	'
Net carrying amount of long-term debt	$6,610,000	'	$8,316,000	'

FAIR_VALUE_MEASUREMENTS_Detail

FAIR VALUE MEASUREMENTS (Details) (Fair value on nonrecurring basis, USD $)	Sep. 30, 2013
In Thousands, unless otherwise specified
Fair value on nonrecurring basis	'
Assets and liabilities measured at fair value on a nonrecurring basis	'
Fair value of assets measured on nonrecurring basis	$0

SEGMENT_INFORMATION_Details

SEGMENT INFORMATION: (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012
	segment
	salon
Summarized financial information of reportable operating segments	'	'
Number of stores	9,752	'
Number of stores in which the entity maintains an ownership interest through investments in affiliates	246	'
Number of reportable segments	2	'
Revenues:	'	'
Total revenues	$468,583	$505,360
Operating income	1,429	9,273
Reportable Segments	'	'
Revenues:	'	'
Operating income	28,551	34,400
North American Salons	'	'
Summarized financial information of reportable operating segments	'	'
Number of stores	9,154	'
Revenues:	'	'
Total revenues	439,531	473,882
Operating income	28,808	33,978
International Salons	'	'
Summarized financial information of reportable operating segments	'	'
Number of stores	352	'
Revenues:	'	'
Total revenues	29,052	31,478
Operating income	-257	422
Franchise salons	'	'
Summarized financial information of reportable operating segments	'	'
Number of stores	2,103	'
Unallocated Corporate	'	'
Revenues:	'	'
Operating income	($27,122)	($25,127)