Hair salon operator Regis Corp. Tuesday agreed to sell its troubled 709-unit Trade Secret division to Premier Salons Beauty Inc. While the firm will receive no proceeds from the sale, expected to close next month, it will receive a $56 million tax benefit from the transaction, with half realized during the current fiscal year and the remainder in fiscal 2010.
“This division had been highly profitable over many years, but based on current sales trends, Trade Secret was forecasted to have operating losses of over $23 million on a fully allocated basis in fiscal 2009,” said Paul Finkelstein, chairman and chief executive officer of Minneapolis-based Regis. “This category continues to face many challenges, including product diversion and increased competition, and the many new initiatives we have tried have been met with limited success.”
Steve Aoki held a presentation, a runway show and outdoor concert for his men's line Dim Mak. Here's a look from his spring 2018 collection, which was titled "Paradise Found." #wwdfashion #wwdmens (📷: George Chinsee)
"It's really hard sometimes. I think I have a reputation for being really tough and aggressive and pushy but I really am a very shy person who wants to be liked, and that's the conflict constantly. There's something that takes hold - I want people to like me, I don't want to be mean - but if I see something that just cries out to be answered, I go for it," says renowned NBC News correspondent Andrea Mitchell. (📷: @axeldupeux)