FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Jun. 30, 2011

FAIR VALUE MEASUREMENTS

Schedule of assets and liabilities measured at fair value on a recurring basis

				Fair Value Measurements Using Inputs Considered as
		Fair Value at June 30, 2011
				Level 1		Level 2		Level 3
				(Dollars in thousands)
ASSETS
Non-current assets
	Derivative instruments	$	212	$	—	$	212	$	—
LIABILITIES
Current liabilities
	Derivative instruments	$	599	$	—	$	599	$	—
Non-current liabilities
	Equity put option	$	22,700	$	—	$	—	$	22,700

				Fair Value Measurements Using Inputs Considered as
		Fair Value at June 30, 2010
				Level 1		Level 2		Level 3
				(Dollars in thousands)
ASSETS
Non-current assets
	Derivative instruments	$	274	$	—	$	274	$	—
	Preferred shares		3,502		—		—		3,502
LIABILITIES
Current liabilities
	Derivative instruments	$	401	$	—	$	401	$	—
Non-current liabilities
	Derivative instruments	$	1,039	$	—	$	1,039	$	—
	Equity put option		22,009		—		—		22,009

Schedule of changes in Level 3 financial instruments measured at fair value on a recurring basis

			Changes in Financial Instruments Measured at Level 3 Fair Value Classified as
			Preferred Shares			Equity Put Option
			(Dollars in thousands)
Balance at July 1, 2010			$	3,502		$	22,009
	Total realized and unrealized gains (losses):
		Included in other comprehensive income (loss)		433			3,847
		Included in equity in income (loss) of affiliated companies		—			(2,442	)
		Transfer out of Level 3		—			(714	)
		Other than temporary impairment		(3,935	)		—
Balance at June 30, 2011			$	—		$	22,700

			Changes in Financial Instruments Measured at Level 3 Fair Value Classified as
			Preferred Shares		Equity Put Option
			(Dollars in thousands)
Balance at July 1, 2009			$	—	$	24,161
	Total realized and unrealized gains (losses):
		Additions to Level 3		3,362		—
		Included in other comprehensive income (loss)		140		(2,620	)
		Included in equity in income (loss) of affiliated companies		—		468
Balance at June 30, 2010			$	3,502	$	22,009

Schedule of assets and liabilities measured at fair value on a nonrecurring basis

		June 30, 2011		Level 1		Level 2		Level 3		Total Losses
		(Dollars in thousands)
Assets
	Goodwill—Promenade(1)	$	240,910	$	—	$	—	$	240,910	$	(74,100	)
Total		$	240,910	$	—	$	—	$	240,910	$	(74,100	)

(1)

Goodwill of the Promenade salon concept with a carrying value of $315.0 million was written down to its implied fair value, resulting in an impairment charge of $74.1 million, which was recorded during fiscal year 2011. The Company recorded $0.3 million of translation rate adjustments during the fourth quarter of fiscal year 2011 on the Promenade salon concept goodwill balance.

		June 30, 2010		Level 1		Level 2		Level 3		Total Losses
		(Dollars in thousands)
Assets
	Goodwill—Regis(1)	$	102,180	$	—	$	—	$	102,180	$	(35,277	)
Total		$	102,180	$	—	$	—	$	102,180	$	(35,277	)

(1)

Goodwill of the Regis salon concept with a carrying value of $136.6 million was written down to its implied fair value, resulting in an impairment charge of $35.3 million, which was recorded during fiscal year 2010. The Company recorded $0.8 million of translation rate adjustments during the fourth quarter of fiscal year 2010 on the Regis salon concept goodwill balance.