This post was originally published on this site
Shares of Supercuts and SmartStyle Hair Salon parent Regis Corp. soared Monday, as plans for the phased reopening of the economy have already included hair salons in two states, with other states expected to allow them to resume grooming this week.
Regis’ stock RGS, +18.83% shot up 21% in afternoon trading. The stock was on track to close at the highest level since March 3.
To put that in perspective, there were 117 confirmed cases of COVID-19 in the U.S. and nine deaths on March 3, according to the Johns Hopkins Whiting School of Engineering’s Centers for Systems Science and Engineering, compared with 979,077 cases and 55,563 deaths as of Monday.
Georgia and Oklahoma allowed hair salons to reopen, while other states, such as Texas and Mississippi, have said they would announce the reopening of some businesses on Monday. The “vast majority” of Tennessee’s businesses are allowed to reopen on May 1.
Don’t miss: States start to reopen, ending coronavirus lockdowns; gyms again in Georgia and sporting goods in South Carolina.
New Jersey is expected to reveal a plan of reopening on Monday, while New York said a limited “unpause” of some businesses could begin May 15.
Regis’ Supercuts salon operates through the U.S., and SmartStyle salons are located in Walmart Inc. supercenter stores throughout the U.S.
Among Regis’ other salon brands that have locations in the U.S., and their geographic coverage:
• Cost Cutters: U.S.
• First Choice Haircutters: Michigan, Ohio and Florida.
• Roosters, Men’s Grooming Center: throughout the U.S.
• Opensalon: Throughout the U.S.
• Best Cuts: Massachusetts, New Jersey, Ohio, Pennsylvania, Rhode Island and Virginia.
• Regis Salons: U.S.
• BoRics Hair Care: Mainly in Michigan and Illinois, with additional locations in Indiana, Kentucky, North Carolina, Ohio, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas and Virginia.
• MasterCuts: U.S.
• TGF Hair Salon: Texas.
• Holiday Hair: Primarily Pennsylvania, with additional locations in Delaware, Maryland, New Jersey and West Virginia.
• Pro-Cuts: Primarily in the south-central U.S.
• Saturday’s Hair Salon: Ohio.
• Famous Hair: Pennsylvania, West Virginia, Indiana, New York, Ohio, Georgia, North Carolina and South Carolina.
• Head Start Haircare: Alabama and Florida.
• Island Haircutting Co.: 49 states, excluding Alaska.
• Style America: Arizona, Iowa, Louisiana, Nevada, New Mexico, Tennessee and Texas.
• Cool Cuts 4 Kids: Arizona, California, Colorado, Florida, Illinois, Nevada and Texas.
• HairCrafters: Florida, Illinois, New Jersey, New York, Ohio and Wisconsin.
• Sassoon: Arizona, California, Florida, Georgia, Illinois, Massachusetts, Washington, Washington, DC.
• We Care Hair Salons: Illinois, Texas and West Virginia.
Fiesta Salons: Ohio, Michigan, Indiana, Kentucky and West Virginia.
• City Looks Salons: Arizona, Florida, Iowa, Illinois, Michigan, Minnesota, North Dakota, Pennsylvania, and Tennessee.
• Carlton Hair: California.
