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With Focus on Hair, Sally Beauty Sales Dip, But Earnings Jump

Sally Beauty sales dipped slightly in the fiscal year and fourth quarter, but earnings were up.
For the full fiscal year, net sales were down 0.1 percent, to $3.9 billion, and net earnings were up 20 percent, to $258 million.
The company posted a 0.8 percent dip in net sales in the quarter, to $966 million, from $974.2 million in the prior-year period. Net earnings increased 54.5 percent year-over-year to $55.2 million, from $35.7 million.
Sally continues to hone its focus on the hair category in both its Sally Beauty Supply and Beauty Systems Group segments. Sally Beauty launched box color in the U.S., and Beauty Systems Group signed distribution agreements with new hair color and care brands. Chris Brickman, Sally’s chief executive officer, said the moves are meant to “enhance our differentiated categories of hair color and care.”
“We are playing to win by refocusing our business around our differentiated core of hair color and care, improving our execution of basic retail fundamentals and advancing our digital commerce capabilities,” Brickman said. “We are continuing to drive costs out of the business, which is enabling investment in our transformation.”
At Sally Beauty, in addition to box color, the business rolled out private-label brand Ion —

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Via:: https://wwd.com/beauty-industry-news/beauty-features/with-focus-on-hair-sally-beauty-sales-dip-but-earnings-jump-1203364958/