Sally Beauty first-quarter sales up 4.7% on strong comps, e-commerce

By

Benjamin Fitzgerald

Published
Feb 3, 2022

Professional hair and beauty supply company Sally Beauty Holdings Inc. announced net sales of $980 million for the first quarter ended December 31, up 4.7%, versus the prior year.

The Denton, Texas-based company said comparable sales increased 6.1%, while global e-commerce sales were $81 million, representing 8.3% of net sales in first quarter.

The company's earnings for the quarter were $68.8 million, or $0.60 per diluted share, compared to earnings of $57.2 million, or $0.50 per diluted share in the prior year.

The company's Sally Beauty Supply sales were $561.5 million in the quarter, an increase of 2.5% compared to the prior year, while its ​Beauty Systems Group sales were $418.7 million in the quarter, an increase of 7.8% compared to the prior year. 

"We are pleased to begin the new fiscal year with solid financial results, highlighted by comparable sales growth of 6.1%, strong gross margin of 51.0% and significantly improved profitability,” said Denise Paulonis, president and chief executive officer.

“Our first quarter performance reflects strong demand for our core categories of color and care among both the DIY enthusiast and professional stylist and also demonstrated our ability to navigate and effectively manage the dynamic macro supply chain environment."

Looking ahead, Sally Beauty enforced its fiscal 2022 guidance, confirming net sales for the year ahead are expected to increase 3% to 4%, compared to the prior year.

"We remain focused on our roadmap for fiscal 2022, which includes leveraging our digital platform, driving loyalty and personalization, delivering product innovation and advancing our supply chain," added Paulonis.

"We believe the business is well positioned to benefit from ongoing demand for our products and services, pursue new growth opportunities and build long-term shareholder value.”