On quarterly morning, our of provide key on financial Salon results and Alline I more in initiatives. acquisition call, our everyone. and you, will today's Thank detail, the Group good discuss recent review our updates
are just cut we to generation approximately we're trying pro XX-month forma of Alline adjusted Group, ago largest During exchange balance furthers this minute, ago. grown move December, then, by the debt has been in the the we've Salon quarter, growth. stabilizing the of Since second the back from a EBITDA a what in and our year versus in from and leverage been a a for future and Taking Around listed consistent on a stronger X on use. position sheet. a we our transaction growing a ratios today position has short benefits and franchisee, strengthen strategic efforts is half securities to acquired putting XX%, to Alline the significantly significant for another the while than company that national on basis stay line for our step time transaction, trailing have Alline we towards have flow the milestone and financial our sight cash cash on and journey and transaction consistent company, efforts
mix Regis business. salons complement belief strategic include to that would back Alline. franchise had portfolio turning I of the optimal our a salon for Now company-owned to a always
to have idea buying initiative. past While this think as we portfolio the I certainly mode back refinancing, their the of capital not salons June due over years. was Alline the potential to come happened possible surface salons just opportunistically. years of began would performance. the right do scale it corporate operating Once quickly opportunity that growth we is portfolio it it given ability post given it but the our the did, to time. sense XXXX to in had presented fruition we're is the several it wind-down allocate size, so we've not a a itself And pursued turnkey the quite few at the that as of Alline infrastructure right and one portfolios over and had the frankly, made right built as
and Cost in has Michigan, and to and leverage, which Ohio enables concentration. geographies around contiguous rent The strong they Pennsylvania, as and and quickly to salons this our with bit able what Cutters our owned franchisees. path operated flow this Supercuts, we At supported acquired, Holiday are of X that also were XX% and but franchised get significant our our of EBITDA familiarity footprint system. right salons with preserves system into group scale a dynamics. exposure having portfolio. acquired salons wage previously XXX we are and nicely brands strategy path multiple and Alline with the representations defined Digging the and are operating comfortable with deeper clear a by attractive to The the cash of Due towards franchisor have a this Hair growth. states strong salons, strong operated made and our The portfolio has in salons acquired, risk favorable fully portfolio
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$XX million transaction. our at for additional of and and existing do once moment was in again which our a cash XXX,XXX to sourced shares the an from loan. million. from hand at in TCW being of consideration take thank on and million cash The of was Alline common to to $XX $X financials on want $X amendment the initial paid Midcap borrowings partners lenders, I term acknowledge Regarding $XX supportive for the this Financial our stock for valued roughly of Regis acquired and Consideration million million. included closing transaction, cash, transaction
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in only cash X.Xx synergies represents current flow. factoring when effective not multiple capital and not but are structure, Again, the a only multiples more on And does our the transaction also attractive, this represent reiterate the strategic generate we the an cash attractive I opportunity been additional want execute transaction profitability financial have have results and and to on that to flow. and delivered, but
bit on the to results, initiatives system are our business. value. on partnership, with to will portfolio. team we as plan expertise in To operational Alline the who turning do and we further We more do salons with other operate on opportunity combination has best oversight. with composition the strong business a to to pleased a have create a and can believe of call. the culture In and And in incremental later foreseeable will and Alline up work wrap combine touch continue we key we winning not to this integrate, further portfolio I with this our drive future our the the state plenty of practices operationalize growth, this our our before to and current profitability during acquiring grow
our quarter to second now Turning results.
quarter expectations. line results second were Our with in largely our
and Importantly, on in share, sales we Same-store income, operations across metric X.X% challenging declined and generating flow Same-store have the that sales we year-over-year keenly is per invested the operating to from a grown second returned EBITDA positive net improving. are income, environment. cash cash and earnings quarter. despite sales in focused key persistently operating have adjusted
second versus ago. Thanksgiving window several quarter, decline. that was drove December year a most challenge factors the Christmas For between the due notably smaller a there and a were Perhaps to
gap of new the end of less versus we almost last Christmas, timing pre-Thanksgiving cycles, Thanksgiving into and as week year. build year, haircut given between services the the a to a year With likely the full saw through the holiday less of carried
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count of system the our little While store our a and of represents from X.X% for Supercuts, royalties than approximately positive quarter. XX% perspective which less half a
our year's franchisees Our see we decline softer in. SmartStyle represents is Walmart a versus and that to our within has brand, sales with X.X% a brand brand last captive quarter. SmartStyle which the believe continued
locations our been and our recent franchise between fleet. focus there partners unprofitable remodeling remaining and the has However, ourselves closing
been have we fiscal As we viable XXXX, largely to a advancing worked remodels footprint. enter closures through, the and look more large-scale brand smaller, with that forward and
store broader fiscal closures same-store the that of the those remainder year well. brands, the our the closed have we impacting across close slated to all that have the salons and sales of Regarding during are as
our drag still number of close provide comps last to and initiatives, additional a rather of what guidance those second flat approximating sales I aiming during closed regarding we points will to year the I quarter. but for, positive year salons previous discussing closures that but outsized time. second over the we're can basis from had say roughly holds, Our the comps have are detail is growth fiscal that closures that overall for projected slightly the during believe quarter even when achievable and drivers XXX on sales later are not that the the
before, traffic the from to that ahead we that today. increase required be time, road where our do need traffic frequency. unlock growth cognizant at in the we the especially same ultimately work we is salons, drive continued to new more about to be find realistic But need to stated I guest As fully are I to to this and ways are
to was need that million versus quarter. operations prior of Zenoti we out a year per to of OpenSalon $X.X up million, Pro sale second of received earnings to our Earnings discontinued Our for $X.X driven income the second million $X.X call $X.X our from $X.XX proceeds $X.XX share the from versus includes is in share adjusted per largely year-over-year I by year ago. which quarter in EBITDA million was do quarter. the XX.X% diluted
Our quarter. versus the of adjusted $X.XX loss was a $X.XX prior in earnings per share year
initiatives. and Turning to our business strategy
the While our priorities and in our are a for making initiatives, of recalibrating we areas reasons. across brand few continue we also progress midst focus
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I and our franchise to that of us discussed the on calls direction brought specifically, have the Supercuts partners. in and help consultants us we vision brand previous define alongside
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grow continued to and further the there opportunity are sales and traffic Therefore, reversed. even over the a grow there cash as trends demonstrated perspective. We improve has of has same-store like the fact is of XX significant from last once flow. state significant rest portfolio Regarding sales traffic the profitability trends versus portfolio the a to and system opportunity Alline, opportunity this months is line to top the
our integration progressing we since nicely. acquisition, the how and only for stress cannot the completed it's systems, critical enough ecosystem into And these are success. long-term taking the salons integration we is months as will I While of that culture be people a been few important
lot do want important foundational here step. to we We a they but have skip this cannot
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that be truly compensation KPIs the making pricing we'll behavior right sure focused against proper to on addition, and what looking In plans, service at we're drive matters.
being for it rationale. strategic plans a lot a as ground, earlier, portfolio, including of We as mentioned ambitious the part of have this I testing
and skip first cannot efforts operationally here. maximize steps to to need we ready However, order truly get in our
are there happening closing, In at a of here transformative things lot exciting Regis.
there much that putting approach back progress to by efforts. and work we the am and are identity I the by of is brand While we be I in-salon experience forefront the at taking to the am done, reignite making. are positioning, and growth energized the encouraged opportunities our
our We place and all for way perception ultimately growth meaningful to are lenders. to salons a actively stakeholders, the to our and putting of drive in our pieces traffic including and increase our shareholders franchisees, our increase value key
to over you call now will interest for Kersten to and turn I financials. the and in for Kersten? detailed I thank again Regis, joining the review of your want for a QX
