Regis Corporation. a leader in the $150 billion to $170 billion hair care industry, reported consolidated revenues decreased 4.5 percent in the first fiscal quarter of 2011 to $578 million, compared to $606 million a year ago. First quarter total same-store sales decreased 1.5 percent.

In February 2009, the company completed the sale of its Trade Secret retail product division to Premier Salons Beauty, Inc. (Premier). As part of the sale agreement, the company agreed to provide certain transitional administrative and other support services to Premier, including the supply of certain retail products. As a result, reported fiscal 2010 first quarter North American product revenues included $20 million of sales to Premier at Regis’ cost. Absent these sales in the prior year, first quarter 2011 total revenues declined 1.3 percent.

“As expected, we are seeing an improvement in visitation trends and we were very pleased with our retail product same-store sales which increased 1.7 percent,” comments Paul D. Finkelstein, chairman and chief executive officer. “We are currently testing and implementing multiple customer service and marketing initiatives which we expect will result in improved customer traffic. We continue to believe visitation trends will normalize and we are still budgeting positive comps in the second half of the fiscal 2011.”