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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:      
Net loss $ (113,331) $ (171,362) $ (14,226)
Adjustments to reconcile net loss to net cash used in operating activities:      
Non-cash adjustments related to discontinued operations 0 (1,098) 306
Depreciation and amortization (Note 1) 17,871 33,101 33,261
Salon asset impairment 0 3,851 4,587
Long-lived asset impairment 13,023 22,560 0
Deferred income taxes (3,388) (3,934) (9,812)
Inventory reserve 12,068 0 0
Gain from disposal of distribution center assets (14,997) 0 0
Gain from sale of company headquarters, net 0 (2,513) 0
Loss (gain) from sale of salon assets to franchisees, net 16,696 27,306 (2,918)
Non-cash TBG mall location restructuring charge (Note 3) 0 0 21,008
Goodwill impairment 0 40,164 0
Stock-based compensation 3,254 3,275 9,003
Amortization of debt discount and financing costs 1,839 398 275
Other non-cash items affecting earnings (351) (539) (903)
Changes in operating assets and liabilities:      
Receivables [1] (279) (3,902) (17,304)
Inventories [1] 17,879 (2,255) (8,492)
Income tax receivable [1] 1,295 (1,804) (703)
Other current assets [1] 1,658 2,827 (783)
Other assets [1] (2,896) (10,094) (5,546)
Accounts payable [1] (21,669) 4,588 (5,836)
Accrued expenses [1] 5,296 (27,622) (20,158)
Net lease liabilities [1] (19,248) 276 0
Other non-current liabilities [1] (14,603) 368 717
Net cash used in operating activities: (99,883) (86,409) (17,524)
Cash flows from investing activities:      
Capital expenditures (11,475) (37,494) (31,616)
Proceeds from sale of company headquarters 0 8,996 0
Proceeds from sale of assets to franchisees 8,437 91,616 94,787
Costs associated with sale of assets to franchisees (261) (2,089) 0
Proceeds from company-owned life insurance policies 1,200 0 24,617
Net cash (used in) provided by investing activities: (2,099) 61,029 87,788
Cash flows from financing activities:      
Borrowings on revolving credit facility 10,000 213,000 0
Repayments of revolving credit facility (589) (125,500) 0
Repurchase of common stock 0 (28,246) (152,661)
Proceeds from sale and leaseback transactions 0 0 28,821
Minority interest buyout (562) 0 0
Distribution center lease payments (724) (769) (378)
Taxes paid for shares withheld (348) (2,320) (2,477)
Net cash provided by (used in) financing activities: 7,777 56,165 (126,695)
Effect of exchange rate changes on cash and cash equivalents 477 (284) 35
(Decrease) increase in cash, cash equivalents and restricted cash (93,728) 30,501 (56,396)
Cash, cash equivalents and restricted cash:      
Beginning of year 29,152 122,880 92,379
End of year $ 29,152 $ 122,880 $ 92,379
[1] Changes in operating assets and liabilities exclude assets and liabilities sold or acquired.