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SEGMENT INFORMATION | 3 Months Ended
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Sep. 30, 2023
Segment Reporting [Abstract] |
SEGMENT INFORMATION | SEGMENT INFORMATION: Segment information is prepared on the same basis that the chief operating decision maker (CODM) reviews financial information for operational decision-making purposes. The Company's reportable operating segments consisted of the following salons:
|  | September 30, 2023 |  | June 30, 2023
FRANCHISE SALONS: |  |  |  |
Supercuts |  | 2,060 |  |  | 2,082 |
SmartStyle/Cost Cutters in Walmart Stores |  | 1,373 |  |  | 1,388 |
Portfolio Brands |  | 1,210 |  |  | 1,223 |
Total North American salons |  | 4,643 |  |  | 4,693 |
Total International salons (1) |  | 102 |  |  | 102 |
Total Franchise salons |  | 4,745 |  |  | 4,795 |
as a percent of total Franchise and Company-owned salons |  | 98.6 | % |  | 98.6 | %
COMPANY-OWNED SALONS: |  |  |  |
Supercuts |  | 7 |  |  | 7 |
SmartStyle/Cost Cutters in Walmart Stores |  | 48 |  |  | 48 |
Portfolio Brands |  | 11 |  |  | 13 |
Total Company-owned salons |  | 66 |  |  | 68 |
as a percent of total Franchise and Company-owned salons |  | 1.4 | % |  | 1.4 | %
Total Franchise and Company-owned salons |  | 4,811 |  |  | 4,863 |
_______________________________________________________________________________ (1)Canadian and Puerto Rican salons are included in the North American salon totals. Financial information concerning the Company's reportable operating segments is shown in the table below. Segment information is presented in the same way that the Company internally organizes the business for assessing performance and making decisions regarding allocation of resources. In the second quarter of fiscal year 2023, the Company revised its internal reporting such the CODM’s primary measures of segment performance are revenue and segment adjusted EBITDA. Revenue and segment adjusted EBITDA are regularly reviewed by the CODM to make decisions about resources to be allocated to the segments, assess current performance and forecast future performance. Asset information by segment is not provided to the CODM. Segment adjusted EBITDA is defined as income from continuing operations before interest, income taxes, depreciation, amortization and impairment. C onsistent with our internal management reporting, unallocated expenses include certain items impacting comparability. These unallocated items are not defined terms within U.S. GAAP. They are based on how management views the business, makes financial, operating and planning decisions and evaluates the Company's ongoing performance and are not attributable to either segment. Unallocated fees include one-time professional fees and settlements, severance expense, the benefit from lease liability decreases in excess of previously impaired ROUA, lease termination fees and asset retirement obligation costs.
|  |  |  | Three Months Ended September 30,
|  |  |  |  |  | 2023 |  | 2022
|  |  |  |  |  | (Dollars in thousands)
Revenues: |  |  |  |  |  |  |  |
Franchise |  |  |  |  |  | $ | 51,436 |  |  | $ | 58,757 |
Company-owned |  |  |  |  |  | 1,936 |  |  | 3,114 |
Total revenue |  |  |  |  |  | 53,372 |  |  | 61,871 |
Segment adjusted EBITDA: |  |  |  |  |  |  |  |
Franchise |  |  |  |  |  | 7,960 |  |  | 4,993 |
Company-owned |  |  |  |  |  | (497) |  |  | (1,169) |
Total |  |  |  |  |  | 7,463 |  |  | 3,824 |
Unallocated expenses |  |  |  |  |  | 141 |  |  | (566) |
Depreciation and amortization |  |  |  |  |  | (370) |  |  | (1,251) |
Interest expense |  |  |  |  |  | (6,188) |  |  | (3,817) |
Income tax benefit (expense) |  |  |  |  |  | 148 |  |  | (28) |
Income from discontinued operations |  |  |  |  |  | — |  |  | 3,306 |
Total net income |  |  |  |  |  | $ | 1,194 |  |  | $ | 1,468 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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