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Sally Beauty supply continues to produce strong results
13 Aug '07
3 min read
Sally Beauty Holdings Inc announced financial results for the third quarter ended June 30, 2007.
“We are pleased with the solid performance of our Sally operating segment during the quarter and with the continued progress on profitability initiatives for Beauty Systems Group,” stated Gary Winterhalter, President and Chief Executive Officer.
“Total consolidated net sales for the third quarter were $635 million, an increase of almost 6% with a comparable store sales increase of 4.8%.”
Sally Beauty Supply segment sales grew by 12.9% versus last year's quarter and third quarter comparable store sales increased 3.4%. The Sally Beauty stores returned to solid performance after second quarter's inclement weather.
Beauty Systems Group's (BSG) sales and earnings results reflect the first full quarterly impact from the loss of the L'Oreal revenues, which totaled approximately $30 million of products previously sold through our sales force.
Of the $30 million loss of L'Oreal-related sales, we were pleased to partially offset this loss with an increase of $14 million in non-L'Oreal brands and another $5 million of revenue resulting from an earlier acquisition.
BSG's comparable store sales increase of 9.2% demonstrates our ability to increase sales of non-L'Oreal brands to BSG's nationwide customer base.
Although 2007 has proven to be a challenging year for our Company, our Sally Beauty Supply business continues to perform well and is expected to offset much of the L'Oreal-related shortfalls at BSG for the year.
“We are pleased with the solid performance of our Sally operating segment during the quarter and with the continued progress on profitability initiatives for Beauty Systems Group,” stated Gary Winterhalter, President and Chief Executive Officer.
“Total consolidated net sales for the third quarter were $635 million, an increase of almost 6% with a comparable store sales increase of 4.8%.”
Sally Beauty Supply segment sales grew by 12.9% versus last year's quarter and third quarter comparable store sales increased 3.4%. The Sally Beauty stores returned to solid performance after second quarter's inclement weather.
Beauty Systems Group's (BSG) sales and earnings results reflect the first full quarterly impact from the loss of the L'Oreal revenues, which totaled approximately $30 million of products previously sold through our sales force.
Of the $30 million loss of L'Oreal-related sales, we were pleased to partially offset this loss with an increase of $14 million in non-L'Oreal brands and another $5 million of revenue resulting from an earlier acquisition.
BSG's comparable store sales increase of 9.2% demonstrates our ability to increase sales of non-L'Oreal brands to BSG's nationwide customer base.
Although 2007 has proven to be a challenging year for our Company, our Sally Beauty Supply business continues to perform well and is expected to offset much of the L'Oreal-related shortfalls at BSG for the year.
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