LEASES (Tables)

9 Months Ended

Mar. 31, 2025

Leases [Abstract]

Schedule of Real Estate Taxes and Other Occupancy Expenses

Total rent includes the following:

	Three Months Ended March 31,				Nine Months Ended March 31,
	2025		2024		2025		2024
	(Dollars in thousands)
Office rent (1)	$	737	$	756	$	2,164	$	2,330
Lease termination expense (benefit)	70		(39)		149		122
Lease liability benefit (2)	(81)		(59)		(209)		(281)
Franchise salon rent (3)	313		627		1,264		193
Company-owned salon rent (4)	3,019		481		3,903		1,893
Total	$	4,058	$	1,766	$	7,271	$	4,257

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(1)Rental income associated with the sublease of corporate office space is recorded in other income and was $0.3 million and $0.9 million for the three and nine months ended March 31, 2025, respectively.

(2)Upon termination of previously impaired leases, the Company derecognizes the corresponding right of use (ROU) assets and lease liabilities, which results in a net gain. In addition, the Company recognizes a benefit from lease liabilities decreasing in excess of previously impaired ROU assets for ongoing leases that were previously impaired.

(3)Franchise salon rent is lower in the nine months ended March 31, 2024, due to settlements with landlords for less than previously accrued.

(4)Includes rent related to the Alline salons acquired December 2024. See Note 13.

Schedule of Lessor, Future Operating Lease Commitments

As of March 31, 2025, future operating lease commitments, including one renewal option for leases expected to be renewed, to be paid and received by the Company were as follows (dollars in thousands):

Fiscal Year	Leases For Franchise Salons		Leases For Company-Owned Salons		Corporate Leases		Total Operating Lease Payments		Sublease Income to be Received From Franchisees		Net Rent Commitments
Remainder of 2025	$	17,725	$	2,131	$	339	$	20,195	$	(17,725)	$	2,470
2026	64,424		7,270		1,367		73,061		(64,424)		8,637
2027	54,947		5,285		1,401		61,633		(54,947)		6,686
2028	45,729		3,688		1,436		50,853		(45,729)		5,124
2029	34,623		2,435		1,472		38,530		(34,623)		3,907
Thereafter	46,938		2,346		1,509		50,793		(46,938)		3,855
Total future obligations	$	264,386	$	23,155	$	7,524	$	295,065	$	(264,386)	$	30,679
Less amounts representing interest	35,713		2,700		766		39,179
Present value of lease liability	$	228,673	$	20,455	$	6,758	$	255,886
Less short-term lease liability	54,774		6,695		1,103		62,572
Long-term lease liability	$	173,899	$	13,760	$	5,655	$	193,314

Schedule of Lessee, Future Operating Lease Commitments

As of March 31, 2025, future operating lease commitments, including one renewal option for leases expected to be renewed, to be paid and received by the Company were as follows (dollars in thousands):

Fiscal Year	Leases For Franchise Salons		Leases For Company-Owned Salons		Corporate Leases		Total Operating Lease Payments		Sublease Income to be Received From Franchisees		Net Rent Commitments
Remainder of 2025	$	17,725	$	2,131	$	339	$	20,195	$	(17,725)	$	2,470
2026	64,424		7,270		1,367		73,061		(64,424)		8,637
2027	54,947		5,285		1,401		61,633		(54,947)		6,686
2028	45,729		3,688		1,436		50,853		(45,729)		5,124
2029	34,623		2,435		1,472		38,530		(34,623)		3,907
Thereafter	46,938		2,346		1,509		50,793		(46,938)		3,855
Total future obligations	$	264,386	$	23,155	$	7,524	$	295,065	$	(264,386)	$	30,679
Less amounts representing interest	35,713		2,700		766		39,179
Present value of lease liability	$	228,673	$	20,455	$	6,758	$	255,886
Less short-term lease liability	54,774		6,695		1,103		62,572
Long-term lease liability	$	173,899	$	13,760	$	5,655	$	193,314