It Cuts Both Ways: Men and Women Pay the Same at First Choice Haircutters
May 23, 2005, MINNEAPOLIS, MN - According to a Money magazine survey conducted by Matthew Greenwald & Associates, over half of the adults surveyed with household incomes of $50,000 admitted to at least one kind of money secret or lie. In fact, 44 percent of people believe that it's OK to keep financial secrets from their spouse, at least under certain circumstances.
While we may feel comfortable keeping money secrets about what we spend money on, there is one secret that no one is keeping: women are often charged more than men on the same goods and services. The flurry over this issue has reached a fever pitch in North America. In a "He Paid, She Paid" story, Toronto Star reporters Dana Flavelle and Christian Cotroneo bought similar items at their local mall, with Dana spending over $45 more than her male counterpart. So intense is the problem that Canadian laws are on the verge of a major reform to equalize pricing for men's and women's services.
As this boils over, First Choice Haircutters, celebrating 25 years as the best price/value hair care chain in Canada, is comfortably outside of the fray. In any of the salons more than 400 locations throughout Canada and the United States, men and women pay the same price for a haircut.
"We don't charge based on gender because we have always believed that pricing should be based on the haircut itself, not who is getting the cut," said John Fraser, Vice President of Operations at Regis Corporation, the company that owns First Choice Haircutters. "Our clients pay one price for a great haircut."
Since 1980, First Choice Haircutters has grown from a single salon in London, Ontario to over 400 locations across North America. Their guarantee of affordable and professional hair care is the reason they have become the dominant price/value family hair care chain in Canada. The same philosophy fuels their growth in the United States. The salons offer customers professional and creative hair care, exceptional value, friendly service and appointment-free convenience - all in a bright, contemporary environment.
About First Choice Haircutters
First Choice Haircutters is part of Regis Corporation (NYSE: RGS), the global leader in the $150 billion hair care industry with over 10,000 salons around the world. First Choice Haircutters salons number over 400 across Canada and are located in neighbourhood strip centres in British Columbia, Alberta, Saskatchewan, Ontario, New Brunswick, Nova Scotia, Prince Edward Island, Newfoundland and Labrador in Canada. In the U.S., they are located in Ohio, Michigan and Florida. First Choice Haircutters offers quality, affordable hair care to value-conscious families in a relaxed environment.
About Regis Corporation
Regis Corporation (NYSE: RGS) is the beauty industry's global leader in salons, hair restoration centers and education. As of December 31, 2004, the Company owned or franchised 10,412 beauty salons, 91 hair restoration centers and 15 beauty schools operating under concepts such as Supercuts, Jean Louis David, Vidal Sassoon, Regis Salons, MasterCuts, Trade Secret, SmartStyle, Cost Cutters and Hair Club for Men and Women. These concepts are located in the US and in ten other countries throughout North America and Europe. For additional information about the Company, including management's current financial outlook and a reconciliation of non-GAAP financial information, please visit the Investor Information section of the corporate website at www.regiscorp.com.