LEASES (Tables)

6 Months Ended

Dec. 31, 2023

Leases [Abstract]

Schedule of Real Estate Taxes and Other Occupancy Expenses

Total rent includes the following:

	Three Months Ended December 31,				Six Months Ended December 31,
	2023		2022		2023		2022
	(Dollars in thousands)
Office rent	$	748	$	834	$	1,574	$	1,706
Lease termination expense	174		848		161		1,306
Lease liability benefit (1)	(95)		(615)		(223)		(1,217)
Franchise salon rent (2)	(96)		9		(434)		(44)
Company-owned salon rent	663		1,014		1,413		2,092
Total	$	1,394	$	2,090	$	2,491	$	3,843

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(1)Upon termination of previously impaired leases, the Company derecognizes the corresponding 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.

(2)The credit in franchise salon rent is related to settlements with landlords for less than previously accrued.

Lessor, Future Operating Lease Commitments

As of December 31, 2023, 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 2024	$	46,425	$	444	$	656	$	47,525	$	(46,425)	$	1,100
2025	81,580		619		1,334		83,533		(81,580)		1,953
2026	68,204		438		1,367		70,009		(68,204)		1,805
2027	58,175		229		1,401		59,805		(58,175)		1,630
2028	48,986		218		1,436		50,640		(48,986)		1,654
Thereafter	74,163		56		2,981		77,200		(74,163)		3,037
Total future obligations	$	377,533	$	2,004	$	9,175	$	388,712	$	(377,533)	$	11,179
Less amounts representing interest	44,009		178		1,147		45,334
Present value of lease liability	$	333,524	$	1,826	$	8,028	$	343,378
Less short-term lease liability	75,200		687		1,008		76,895
Long-term lease liability	$	258,324	$	1,139	$	7,020	$	266,483

Lessee, Future Operating Lease Commitments

As of December 31, 2023, 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 2024	$	46,425	$	444	$	656	$	47,525	$	(46,425)	$	1,100
2025	81,580		619		1,334		83,533		(81,580)		1,953
2026	68,204		438		1,367		70,009		(68,204)		1,805
2027	58,175		229		1,401		59,805		(58,175)		1,630
2028	48,986		218		1,436		50,640		(48,986)		1,654
Thereafter	74,163		56		2,981		77,200		(74,163)		3,037
Total future obligations	$	377,533	$	2,004	$	9,175	$	388,712	$	(377,533)	$	11,179
Less amounts representing interest	44,009		178		1,147		45,334
Present value of lease liability	$	333,524	$	1,826	$	8,028	$	343,378
Less short-term lease liability	75,200		687		1,008		76,895
Long-term lease liability	$	258,324	$	1,139	$	7,020	$	266,483