As of Mar 31, 2017, there were 9,217 locations system-wide, comprised of 6,475 company-operated locations, 2,561 franchised locations and 181 equity ownership interest locations. By concept, there were 2,831 SmartStyle/Cost Cutters, 2,662 Supercuts, 361 MasterCuts, 2,284 other value salons, 586 Regis salon locations and 312 salons in Europe.
During fiscal 2016, the company reduced corporate-owned store counts by 233, while franchisees added 172 locations. In the first nine months of fiscal 2016, the company reduced corporate-owned store counts by 317 and franchisees added 65 locations.
All salon locations are leased. Mall locations typically have initial lease terms of at least 10 years. Salons operating in strip centers and Walmart Supercenters have leases with original terms of at least 5 years, generally with the ability to renew for one or more additional 5 year periods. The company leases the premises in which 84% of franchisees operate, with initial terms of 5 years.
Most North America locations are located in strip centers and Walmart Supercenters, with premium salon locations primarily in malls. Salons in the UK are located in malls, leading department stores, mass merchants and high-street locations. Salons range in size from 500 to 5,000 square feet, with the typical salon approximately 1,200 square feet.
|Total gross square feet (M)||10,927||11,214||11,315||11,452||11,535||11,817|
|Total gross square feet growth||-3.1%||-1.0%||-1.2%||-0.7%||-2.4%||-0.8%|
|Avg store gross sq ft||1,200||1,200||1,200||1,200||1,200||1,200|
|Avg store gross sq ft growth||-0.2%||0.0%||-0.0%||-0.1%||-0.1%||0.0%|
Notes:Includes company-operated and franchised locations, but excludes equity ownership locations