Sales Decline at Sell-Rated Regis Corp. (RGS)If you happen to be a fan of long hair, the economic recession has some upside for you. With consumers looking to cut back on expenditures wherever they can, it seems that delaying their next haircut might be a popular option.Sell-rated Regis Corporation (RGS), the largest beauty salon company in the country, announced this morning that third quarter revenues declined 2.5% versus the prior year. Excluding the deconsolidation of its European salon operations, revenues would have been down 1.7%.More importantly, in our opinion, is the fact that same-store-sales decreased 4.5% year-over-year.The company recently opted to divest its Trade Secret brand, which had been posting the largest same-store-sale declines of any chain in the company's portfolio. Absent this divestiture, same-store-sales would likely have been down even further.With more than 12,800 system-wide locations ...